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Texas senator Ted Cruz is leading the fight against the Biden administration’s crypto-crackdown.
On Monday, Sen. Cruz introduced a bill aimed at reversing the regulations surrounding cryptocurrency in the Biden administration’s recently passed $1.2 trillion Infrastructure and Jobs Act.
As Bloomberg reports , the founding set of regulations for Biden’s Build Back Better agenda lays out new tax-reporting requirements for cryptocurrencies, which many fear would give government too much oversight of the huge digital currency market. In a statement , Sen. Cruz said that he believes the cryptocurrency regulations as they currently stand “will stifle innovation in the industry, endanger the privacy of many Americans and cryptocurrencies, and likely push key aspects of the industry overseas to countries like China.”
Sen. Cruz has long been critical of the way cryptocurrency was discussed in the Act. When it was still a bill, he brought up the fact that the term “broker” was ambiguous, and could “force every single participant in the cryptocurrency structure to operate as a financial institution, which would mean they would have to provide consumer information to the IRS, even if they don’t have access to that information.”
While some lawmakers are on Cruz’s side , there are some who believe the government should have more control over digital currencies. As the Daily Wire reported in July, Sen. Elizabeth Warren said cryptocurrency “demands federal regulation” because it is not controlled by any authority.
One Sick Day Proves We Need More Voices in Truthful Media
On October 19, I was sick. It crossed my mind that I had finally gotten the ‘rona, but my wife’s cream of chicken soup and a few extra hours of sleep into mid-afternoon had be back up and running after a sleepless night before.
When I finally stumbled over to my computer in the evening, I was met with a deluge of concern from readers. They asked what had happened as only one article had been posted that day. Generally, we post between 10-20 daily between all of the sites, not included curated and aggregated content. Seeing that we’d only posted my super-early morning article before taking the rest of the day off had readers assuming the worst.
We have a wonderful and talented group of writers who volunteer their time for the sites and their readers. Sharing their amazing perspectives has always been a blessing to us because we cannot afford to hire anyone at this time. But having great writers is meaningless if we don’t have great editors, or at least one additional. My wife helps me read and edit stories from time to time, but I’m a one-man show when it comes to getting the stories posted.
Whenever I highlight our desperate need for donations, I note that we do not receive money from Google ads even though most in conservative media are beholden. I often ambiguously note that the money donated will help us grow. Today, I’m highlighting a specific need. We must get an editor to help take some of the load and to expand on our mission of spreading the truth to the world. One sick day proved that.
The great news is that there is no shortage of people who CAN help. I am emailed variations of resumes every week by people who are much smarter than I am. As much as I’d love to hire some of them, we simply cannot. That takes money and as blessed as we’ve been to receive donations and collect ad money (though not from Google or Facebook), we have still fallen short.
Those who have the means, PLEASE consider donating. We have the standard Giving Fuel option and people can donate through PayPal. We are also diving into what we believe is extremely disruptive technology at LetsGo.finance, the world’s first major donation portal for crypto. I’ll be talking a lot more about them in the near future. Those who prefer Bitcoin can send to my address here: 3A1ELVhGgrwrypwTJhPwnaTVGmuqyQrMB8
We can get the voices out there and we’re willing to shine a spotlight on new talent. We just need the resources to make it happen. If you can help, we would be extremely grateful.
Thank you and God bless!