The Latest On The US Crypto Amendment
Here’s the latest update on the US crypto debacle which has been going on in the Senate:
As usual, Bitcoinist covered this story as it happened and explained the draft bill’s ins and outs. When it came to the amendment relevant to this story, we said:
However, at the last minute, two other senators introduced their own amendment. Senators Rob Portman and Mark Warner. This would except Proof-of-Work node validators (miners) and other PoW based projects. Crypto Developers and other services wouldn’t be excluded.
Then, surprising the world, the Biden administration “formally” came out in support of the Portman-Warner amendment. How could this be? The green-new-deal-government backing up the controversial but far superior Proof-Of-Work consensus mechanism? As log scale puts it, “You can’t have a credible theory about what the government is doing without being able to answer that astonishing puzzle.” And, in any case, how does this relate to Bitcoin adoption in the US?