“The crypto world has been made politically aware,” said Anne Fauvre-Willis, chief operating officer at Oasis Labs, a blockchain privacy company. “For many there has been a personal political awakening.”
The push follows a back-and-forth debate between Senators and dueling amendment proposals earlier this month that would have modified language included in the bipartisan infrastructure package meant to regulate cryptocurrency — which uses blockchain technology for online transactions.
Despite the debate, a cryptocurrency language compromise amendment failed before final passage of the legislation in the chamber Tuesday, leaving crypto advocates concerned for the fate of an industry they are personally invested in and care deeply about.
As it stands, the provision would impose more federal regulation on cryptocurrencies and could dramatically expand the number of cryptocurrency users who would have to report filings to the Internal Revenue Service –…