Some are urging U.S.-based crypto users to contact their representatives in support of the amendment from Wyden, Lummis and Toomey.
With more than one amendment proposed to the United States infrastructure plan that would modify a provision on cryptocurrencies, some figures in the space are going against the one with White House support.
Digital rights advocacy group Fight for the Future said today it would not support the amendment crafted by Senators Mark Warner, Rob Portman and Kyrsten Sinema to address the issue of clarifying the language used concerning crypto in the bipartisan infrastructure bill. According to the group, the proposed amendment gets “a resounding no” as a possible solution to the bill which “fundamentally misunderstands how cryptocurrency and decentralization works.”
The group alleges that both the Biden administration and Democratic proponents of the amendment “have not done their homework on decentralized technology.”
On Wednesday, Senator Ron Wyden, Cynthia Lummis and Pat Toomey put forth an amendment to infrastructure bill HR 3684 currently under review in the Senate. The proposal received support from a number of lawmakers and figures in the crypto space, including Senator Rob Portman — a key Republican involved in the bill — as well as 114 signatories from the crypto and blockchain space, including Twitter CEO Jack Dorsey.
Leaders at major U.S.-based cryptocurrency exchanges have called on users to contact their representatives. Binance.US CEO Brian Brooks — prior to his resignation today — pushed Fight to the Future’s message and Coinbase CEO Brian Armstrong urged his more than 743,000 Twitter followers to support the amendment from Wyden, Lummis and Toomey.