How A Last-Minute Bitcoin Tax Bill Is Harmful To America, Says Congressman Warren Davidson

Congressman Warren Davidson has explained how adding a cryptocurrency tax to the Senate infrastructure bill is detrimental to the United States.
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If you’ve been living under a rock for the past 48 hours, you’ve probably heard of adding a last-minute crypto load to the Senate’s upcoming infrastructure bill.
In this episode of the Bitcoin Magazine podcast, host David Zell met with Warren Davidson (R-OH), one of the strongest bitcoin supporters in Washington, to talk about specific language and the potential economic impact of this cryptogeld tax Dec. In its current form, the wording of the bill is so broad that it could apply to a large number of crypto-related activities that are tax-free. Worse, the October additional compliance costs this bill could incur would seriously jeopardize the viability of businesses and startups in the bitcoin space. Davidson blasted his shockingly poor vocabulary, complaining that it must have been written by people who were either completely ignorant in the industry or, worse, seeking harm. According to him, passage of the bill in its present form would be a disaster for both the cryptocurrency industry and the US economy.
Davidson described how the bill separated America from its long-standing role as a country leading innovation. In keeping with its current language, America is threatening to skip one of the most revolutionary technological steps in history and fall behind our competitors in this vital innovation.
“America has led the Industrial Revolution, the emergence of the automobile and the development of the internet, “Davidson said,” And Now America is about to lose that leadership with this new technology.”
The congressman discussed how the law could be changed for the better and how much time there was to fix it. At the end of our discussion, Davidson called

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