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Actually part of the issue is that the bill is worded such that effectively everyone involved in a cryptocurrency (including developers) would be treated as financial brokers and would be subject to all the regulations and tax compliance laws that go with that EXCEPT Proof of Work miners...

The base wording is untenable to a certain extent. The Wyden amendment is a reasonable compromise but the Warner amendment (which is the one with White House support) that came out at the last second includes absolutely everyone in the ecosystem except those that burn extraordinary amounts of power.



So if we look closer we can see that US energy companies will benefit short-term from the fact that miners are excluded from the bill.

The lobbying is strong.




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