U.S. Senator Ted Cruz has introduced a bill to repeal the $1 trillion infrastructure package’s crypto provision, which he said is a “devastating attack” on the crypto industry. “I urge my colleagues in the Senate to repeal this harmful language that will create regulatory uncertainty and in turn an unnecessary barrier to innovation,” he said.
Senator Cruz Pushes for Infrastructure Bill’s Crypto Provision to Be Repealed
U.S. Senator Ted Cruz said Tuesday that he has introduced “legislation to repeal infrastructure bill’s ‘devastating attack’ on emerging cryptocurrency industry.” President Joe Biden signed the $1 trillion infrastructure bill into law early this week.
Senator Cruz explained that his bill “would repeal an overly broad and poorly-crafted provision from the infrastructure package that creates new reporting requirements for many participants within the blockchain industry.” He emphasized:
This provision will stifle innovation in the industry, endange
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