HomeBitcoin OpinionCrypto Head Matthew Roszak Calls the New Infrastructure Bill an Example of...

Crypto Head Matthew Roszak Calls the New Infrastructure Bill an Example of Shoddy Regulation

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A financial head is warning the United States that the latest infrastructure bill, if passed, could force cryptocurrency investors in America into an ugly spot. Matthew Roszak – the chairman of the Chamber of Digital Commerce – stated in a recent interview that the infrastructure bill is a prime example of “bad” government regulation, and that more public figures need to voice opposition to it.

Matthew Roszak Isn’t a Fan of the Infrastructure Bill

In the interview, Roszak explained:

In the U.S., there’s very good clarity on bitcoin that’s taxed as property, but you know, going back last week, we had this infrastructure bill that was getting bobbled around D.C. and there’s some potential for bad regulation out there, but we have some amazing people within Congress working with the industry. Senators Cynthia Lummis, Warren Davidson. We have a blockchain caucus.

Roszak continued with:

And look, we must be careful. We need to get this right. Otherwise, a lot of this innovation will go offshore, and we have an amazing opportunity on the scale of the internet 20-plus years ago to kind of play into this new defi world and its new Web3 world.

Government regulation of crypto and digital currency activity has been something of a controversial topic given that many primary forms of crypto – including bitcoin – were initially designed to be free of third-party snoopers, standard financial institutions and banks, and centralized organizations. The idea was to keep these assets free of rules and regulations and place financial independence back in the hands of the people.

However, as time has gone by, it has been realized by many figures in the industry that this goal is easier said than done, and granted illicit behavior, cyberattacks, and other threats exist in this space, it looks like some degree of centralization or regulation is considered necessary by several of the crypto world’s main players, though how to oversee things without placing too many burdens on investors is where many of them differ.

Sloppy All Around

For several analysts, the latest infrastructure bill is the prime example of what not to do in situations like these. The bill initially garnered votes before it was even fully written. This caused many people to raise an eyebrow or two, but while the bill was designed to garner funds for America’s ailing power and transportation systems, there was plenty of verbiage stuck in there aimed primarily at crypto brokers and investors, and it was clear that Congress was hellbent on using the document to potentially increase taxation efforts on all of them.

Approximately $28 billion in additional funds was slated to come from crypto investors via the bill’s language, which sounds big and important at first until one realizes that the entire total of the infrastructure bill was about $1 trillion, suggesting someone in Congress is simply looking to target this newfound financial industry.

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Nick Marinoff
Nick Marinoffhttps://www.livebitcoinnews.com/
Nick Marinoff is currently a lead news writer and editor for Money & Tech, a San Francisco-based broadcasting station that reports on all things digital currency-related. He has also written for a number of other online and print publications including Black Impact Magazine, EKT Interactive, Seal Beach USA and Benzinga.com, to name a few. He has recently published his first e-book "Take a 'Loan' Off Your Shoulders: 14 Simple Tricks for Graduating Debt Free" now available on Amazon. He is excited about the potential digital currency offers, particularly its ability to finance unbanked populations and bring nations together financially.

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