Ted Cruz

 

 I never thought I would support Ted Cruz.

In the United States Senate, the proposal to amend the Crypto section included in the Infrastructure Bill has been defeated. Rather than being defeated, I did not get the right to vote.

Ha, If it is the parliament and there is no right to vote, then we are talking about Filibuster. So I won't talk anymore.

The leader of the Democrats, who has the right to decide whether or not to vote, decides that he will vote if there is no unanimous agreement. There, an opponent appeared, so the amendment motion was rejected without dividing the vote.

Why are you against it? Do you understand about Crypto? Do you want to tighten crypto? Because you don't want Crypto? Not one. I objected to the amendment proposed by him, so I objected to the amendment proposed by others. It has nothing to do with the subject. I'm in the parliament and I wonder if it's childish.

I love what Texas Senator Ted Cruz, who I couldn't see from anywhere, said. If you ask what is Crypto, not even (5) MPs can answer. It is too ugly to make laws without understanding.

Anyway, the Senate passed the original bill without any amendments. What will be the effect of this approval?

All people who work with Crypto are defined as Brokers. All brokers are responsible for submitting their clients' personal information and transaction records to the tax office.

Filing for taxes is not a problem. All accept this. The problem is that when I put everyone under the title of Brokers, those who dig mines while sitting around. Those who provide Node Run All the software developers are gone.

For example - A developer will write a Smart Contract that can give a Surprise Gift and upload it to the Blockchain. He just wrote it. It's open source. Users who want to use it on their own will be able to access it. However, according to the new law, the developer must take the personal information documents of all those people and submit them to the tax office. Because of this, even if you want to write Open Source software, you won't be able to write it anymore. Because I gave the node a good run, I now have to submit the information of all the people on the network to the tax office without any benefit for myself. It cannot be implemented in any way.

Therefore, Brokers are those who hold and manage Digital Assets such as Exchange. I tried to add an amendment saying that Miners, Wallet Developers, and DeFi Services do not exist, but it was unsuccessful.

So, are cryptos on the up? Not up yet. It has to be approved by the House of Representatives. Then it has to be submitted for the President's signature. We are still trying to add fixes to these steps. The president's office has officially announced that it supports one of the two amendments, so I think it will be okay in the end.

Surprisingly, Despite this bad news, the Crypto market is falling. As usual, bad news. It goes up and down depending on the good news. Maybe it's because the news isn't final yet.

Some say. I don't like the government system, so Crypto appeared. Why are they watching what the government is doing now?

In Nigeria, the Crypto market has grown even more since the government blocked it. Nigeria is now the second largest Crypto Market after America.

It got worse because the exchanges were banned and people started buying OTC directly. They are being lied to more and the government doesn't know anything about what is happening. If the exchanges are allowed according to the law, it will be safer for the people and the government will have to regulate the market through the exchanges.

Other countries can learn from this incident. Even if it is banned, it will not disappear, but it must be allowed to be properly enforced.null