• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Join Lightchain AI
No Result
View All Result
👆 BUY LIGHTCHAIN HERE 👆
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Ripple And SEC Reach Major Deal: Remaining $75M Penalty Returned, Injunction Lifted
👆 BUY LIGHTCHAIN HERE 👆
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Ripple And SEC Reach Major Deal: Remaining $75M Penalty Returned, Injunction Lifted
Picture of Elon Musk

Elon Musk Calls For Careful Consideration In New Crypto Regulation Bill

Best Owie
by Best Owie
4 years ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The new crypto infrastructure bill going in front of the House has been at the forefront of discussions in the crypto market lately. Regulation continues to be an important topic in the market. As country after country tries to put out regulation in favor of or against crypto. This has so far led to some interesting developments in regards to crypto regulation. Some countries are openly against cryptocurrencies, in the case of India. While others have openly embraced them, like El Salvador.

The U.S. is now next in line, it seems, to have regulations mapped out for crypto. An infrastructure bill was proposed to the House to this end. A bill which Brian Armstrong, Coinbase’s CEO, ended up making a Twitter thread, calling it a “disastrous” bill. The bill has not been popular amongst crypto investors.

Related Reading | Meet The 13-Year-Old Indian Kid Managing Millions Of Dollars In Crypto

U.S. Senator Mike Warner recently proposed an amendment to this bill. An amendment that would see the House deciding which technologies were okay to be in the market. And also which technologies were not.

Coinbase CEO Reacts To Crypto Bill Amendment

Coinbase CEO, Brian Armstrong, took to Twitter to combat this amendment. The CEO explained how this would be detrimental to the whole of the cryptocurrency industry. Calling the bill a violation f the rights of Americans.

Related Reading | Survey Shows The Most Common Mistakes That Crypto Investors Make

Armstrong also pointed out how this amendment discriminates against proof of stake miners. Giving proof of stake validators conditions that would be hard to comply with. Explaining that this would give the Senate the power to decide which cryptos could stay.  The relatively young crypto industry would be dealt a huge blow if an amendment like this were to pass into the bill.

3/ This is the government trying to pick winners and losers in a nascent industry today, where some new technology is being developed every month. They are guaranteed to get it wrong, by writing in a few exceptions by hand today.

— Brian Armstrong (@brian_armstrong) August 6, 2021

Total crypto market cap chart from TradingView.com

Total crypto market cap inches closer to $2 trillion | Source: Crypto Total Market Cap from TradingView.com

The CEO ended the thread with calls for constituents to call their senators. In order to urge them to vote for the Wyden-Lummis-Toomey amendment. Instead of voting for the Warner-Portman emendation. In an effort to “keep crypto alive and thriving.”

Regulations Should Not Be Hasty Decisions

Elon Musk replied to Brian Armstrong’s Twitter thread. Agreeing with what the CEO had to say about the regulation. According to Musk, there was no reason for a regulation to be made hastily. Regardless of whether there was a crisis or not.

Related Reading | A Recap Of Regulatory Season In Crypto

Musk also pointed out that there would be no winners or losers if this amendment passed into the bill. The whole of the market would be affected no matter what side of the fence they were on.

Agreed, this is not the time to pick technology winners or losers in cryptocurrency technology. There is no crisis that compels hasty legislation.

— Elon Musk (@elonmusk) August 6, 2021

Picking and choosing which technologies should be allowed would never end well. As senators could swing to the side that favors them personally. With new technologies popping out of the industry every day, there is no telling how this amendment would affect these new technologies. Hence the calls for the decisions for the infrastructure bill to not be made in a haste.

Featured image from USNews, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Best Owie

Best Owie

Follow

Best Owie is a Managing Editor at Bitcoinist with extensive experience and a proficient expert known for crafting captivating and insightful content. Best boasts over six years in the crypto sector, and has supervised the conception and publication of thousands of articles. Best is also a content and marketing strategist with the ability to make sure your content reaches the right audience and beyond. In every aspect, Best stands out as a consummate professional, always striving for unparalleled excellence both within and outside the workplace.

Full Profile

Related Posts

Next Biggest AI Agent Crypto Raised $9M in Presale – MIND of Pepe Gains Hype

Next Biggest AI Agent Crypto Raised $9M in Presale – MIND of Pepe Gains Hype

8 hours ago
Coinbase Enters S&P 500 as Businesses Stack Bitcoin, Supporting Projects Like BTC Bull Token

Coinbase Enters S&P 500 as Businesses Stack Bitcoin, Supporting Projects Like BTC Bull Token

9 hours ago
$200K Solaxy Whale Purchase: Is $SOLX Ready for Exponential Growth?

$200K Solaxy Whale Purchase: Is $SOLX Ready for Exponential Growth?

10 hours ago
BNB Nears $700 as SEC Proposes New Crypto Rules: Best Presales for the Upcoming Bull Run

BNB Nears $700 as SEC Proposes New Crypto Rules: Best Presales for the Upcoming Bull Run

11 hours ago
Bitcoin Dominates $882M Weekly Crypto Inflows While Sui Quietly Overtakes Solana

Bitcoin Dominates $882M Weekly Crypto Inflows While Sui Quietly Overtakes Solana

17 hours ago
As Saylor Mulls Bitcoin Purchase: Best Crypto to Buy for the Bull Run?

Japanese Firms Pick Up the Beat As Saylor Mulls Bitcoin Purchase: Best Crypto to Buy for the Bull Run?

1 day ago
Please login to join discussion

Premium Sponsors

Press Releases

  • Is Altseason Here? 5 Best Cloud Mining Platforms To Mine...

    3 hours ago
  • XRP Enthusiasts Expand Their Wealth: Easily Earn...

    3 hours ago
  • CoinFerenceX Dubai 2025: Where Decentralization Took the...

    3 hours ago
  • Financial changes in the Middle East! XRP + blockchain...

    5 hours ago
  • XRP

    XRP Holders’ Guide to the 7 Best Cloud Mining Platforms...

    5 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Join Lightchain AI

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.