TL;DR Breakdown
- Crypto supporters from all over the US and other countries have formed the ‘Red Alert’ campaign.
- The campaign challenges the US Infrastructure Bill that is a threat to the biggest benefit of cryptocurrencies, privacy.
- The US Infrastructure Bill seeks to increase the surveilance on cryptocurrencies and investors as well.
The US Infrastructure Bill has gathered the attention of many cryptocurrency investors who are opposing the increasing surveillance of digital assets that are brought by this Bill. Along with increased regulation worldwide and in the US, this Bill seems to be another hurdle to the progress and adoption of these assets.
The Bill has been introduced in a bid to implement stricter laws in the world of cryptocurrencies. This bill has been considered unacceptable by crypto enthusiasts as the bill leads to the extraction of around 28 billion USD from the crypto industry.
Activity against the US Infrastructure Bill
An amendment has been introduced for the US Infrastructure Bill that will bring the tone down the specifics of the bill. Various influencers have been actively participating on Twitter, asking their followers to back the passing of the amendment.
The amendment was surprisingly launched by a bipartisan committee consisting of the Senate Finance Committee Chairman Ron Wyden, along with the Republican Senators Pat Toomey and Cynthia Lummis. The three have spearheaded the amendment which is currently gathering heat from crypto supports.
60 votes required for amendment
For the US Infrastructure Bill amendment to pass and get added to the bill, only the favor of three senate members is insufficient. There is a need for around 60 votes in the favor of the passing of the amendment.
The supporters have called for a ‘red alert’ movement on Twitter, trying to get the amendment passed and added to the Bill as according to the supporters, the bill would mean the end of crypto.
