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Crypto Enthusiasts Purchase Billboard Attacking Alabama Senator Richard Shelby

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Wed, 08/25/2021 - 20:02
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Alex Dovbnya
A billboard that attacks the Alabama senator who killed the pivotal crypto amendment has been put up in Birmingham
Crypto Enthusiasts Purchase Billboard Attacking Alabama Senator Richard Shelby
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Fight for the Future, a non-profit advocacy group that focuses on digital rights, has put up a billboard that takes aim at Sen. Richard Shelby (R-Ala) Birmingham after collecting donations from crypto proponents.

The 87-year-old lawmaker, who announced that he would not run for re-election in February, drew the ire of the cryptocurrency community after his sole objection killed the crucial amendment to the harmful cryptocurrency tax provision that snuck its way into the infrastructure bill.     

During a chaotic voting session, Shelby requested an additional $50 billion in defense spending in exchange for his vote. This led to a dispute with Sen. Bernie Sanders (D-Ver), which ultimately put the clamps on the crypto rewrite.

As the result, the infrastructure bill passed the Senate with the original language, which ensnares the industry with its broad definition of the term “broker.”  

In an attempt to save his face, Shelby later tweeted that he supported the amendment but chose to prioritize the country’s security over innovation.    

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Earlier this week, House Democrats delivered another blow to the cryptocurrency community’s lobbying efforts by voting not to include any amendments to the controversial legislation.

However, according to an Aug. 13 Bloomberg report, the U.S. Treasury Department is not going to target miners, stakers, software developers and hardware manufacturers.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.