- Many other senate groups would offer a more comprehensive bill.
- Cardano would conduct a campaign to increase awareness of the situation.
Recently, Cardano founder Charles Hoskinson posted an update on the US Crypto Infrastructure Bill on his Twitter account, labelled “Brief Regulatory Update.” Hoskinson brought out the dubious wording of the Crypto Infrastructure Bill in his speech.
Hoskinson clarified the terminology used in the Cryptocurrency Infrastructure Bill, explaining it further, and stated:
“we are in a slightly bad position today, because the Infrastructure Bill was passed. If it’s left to its own devices, by 2023 when these mandates come into place…depending on how they are interpreted and what the IRS does with it, it can cause catastrophic damage”.
Brief Regulatory Update https://t.co/mp3MTJltCY
— Charles Hoskinson (@IOHK_Charles) November 16, 2021
Also mentioned are Texas and Wyoming as examples of states where the crypto industry must be active in its advocacy for favorable crypto legislation. He said that they (Cardano) would conduct a campaign to increase awareness of the situation.
The Term ‘Broker’
Not only that, but Hoskinson said that the crypto community would be restored if it rose and demanded that the correction be made. But what about the rest of the crypto universe? He said that many other senate groups would offer a more comprehensive bill.
In the Crypto Infrastructure Bill, there is a definition of the term “broker,” which has generated a great deal of debate. The majority of people feel that legal reform is necessary for the cryptocurrency industry to survive and develop. The crypto community and authorities are sure to take note of Charles Hoskinson’s thoughts on cryptocurrency regulation.
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