A Partial Victory in the Infrastructure Bill Battle

<p><span style="font-weight: 400;">First, the Brief:</span></p> <ul> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Bank of America’s research highlights the pros of El Salvador's bitcoin law</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Federal Reserve Governor Lael Brainard discusses the need for a U.S. CBDC</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Bank of China intends to continue significant pressure on crypto</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">No sign of a slowdown in U.S. bitcoin mining industry</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Kentucky as the fifth state to stop BlockFi</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Lastly, a record week for NFTs and the emergence of a new institutional narrative</span></li> </ul> <p><span style="font-weight: 400;">Our main discussion centers on the ongoing battle surrounding a crypto provision within the highly debated infrastructure bill. The original language of the draft targeted crypto intermediaries, from hardware wallet manufacturers to miners, mandating that they report transactions made through their services. Doing so would be virtually impossible and hinder the U.S. crypto industry. </span></p> <p><span style="font-weight: 400;">In response, the community rallied for an updated bill with more forgiving standards. Crypto allies, from industry heavy hitters like Coin Center’s Jerry Brito to Sen. Ron Wyden of Oregon, expressed their discontent with the original language of the draft. With an amendment process underway, will these statements be enough to make a significant change?</span></p> <div data-pm-slice="1 1 []" data-en-clipboard="true">Enjoying this content?</div> <div> </div> <div>SUBSCRIBE to the Podcast</div> <div>Apple:  <a href= "https://podcasts.apple.com/podcast/id1438693620?at