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Rep. Donalds Statement on the Unnecessary & Burdensome Cryptocurrency Regulations in Biden’s Infrastructure Bill

WASHINGTON – Today, Congressman Byron Donalds released the following statement regarding the regulations on cryptocurrency that was recently adopted in the U.S. Senate.

“Cryptocurrency and the individual transactions of Americans has no business being included in the Biden Infrastructure bill. Hidden in this egregious 2000 plus page so-called Infrastructure Bill is the creation & implementation of radical and unnecessary tax increases and regulations that have little to do with actual infrastructure, such as roads and bridges. It’s shameful that the U.S. Senate voted to adopt this measure that will only stifle innovation and infringe upon the privacy of every American.”, said Rep. Donalds.

“U.S. leadership in the realm of digital finance is critical to America’s future and our leadership over China. It is irresponsible for our nation’s leaders to include hastily drafted payfors on a new, complex, and growing industry that is poised to lead the United States in the next wave of innovation. Leaders in the Senate cramming burdensome and bureaucratic regulations on cryptocurrency in their bloated infrastructure bill goes to show the American people that this bill includes just about everything but infrastructure.”