Musk: This is not the time to choose technical winners or losers in cryptocurrency technology, and should not rush into legislation

Coinbase CEO Brian Armstrong tweeted today that there are several key moments that determine the future of encryption. One is the infrastructure bill of the Senate. Mark Warner and others subsequently proposed amendments to determine which basic technologies can or cannot be used in encryption.

In response, Musk replied that he agreed that now is not the time to choose technical winners or losers in cryptocurrency technology. There is no crisis forcing hasty legislation.

Earlier news, the US Bipartisan Infrastructure Act plans to raise approximately $28 billion through cryptocurrency taxes through the application of new information reporting requirements on exchanges and other parties. The crypto asset amendment to the US Senate’s bipartisan infrastructure bill will raise approximately $23 billion through taxation.

Musk: This is not the time to choose technical winners or losers in cryptocurrency technology, and should not rush into legislation

 

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/musk-this-is-not-the-time-to-choose-technical-winners-or-losers-in-cryptocurrency-technology-and-should-not-rush-into-legislation/
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