**Summary:**
In this video, the speaker delves into the details of a bill in Congress, primarily focusing on an infrastructure bill that has now become entangled with issues relating to cryptocurrency. The video emphasizes how various factions, both bipartisan, are clashing over the inclusion of cryptocurrency-related clauses in the bill. The speaker touches upon the amendments proposed and the significant impact of cryptocurrency on politics and the public's perception and governmental decisions. The speaker highlights the increasing number of cryptocurrency users globally and in the United States and predicts the potential political power this demographic could amass in the coming months and years. The video underscores the evolving influence and importance of cryptocurrency in mainstream politics and its potential to challenge traditional financial systems.

**Detailed Article:**
The video starts with Task addressing the situation surrounding the infrastructure bill in Congress. He explains the basics of the bill, mainly focusing on funding for projects like roads and underground utilities, totaling around $500 billion. Task delves into the concept of adding unrelated provisions to bills, known as PORC, illustrating how funding for projects like a school in Uganda can find its way into bills like this.

The discussion then shifts towards the inclusion of taxation and regulation of cryptocurrencies in the bill, and the subsequent amendments proposed by both Republicans and Democrats. Task points out the bipartisan nature of the debate, with different factions holding varied opinions on cryptocurrency-related clauses. The speaker underscores that the bill's progression is now intertwined with debates around cryptocurrency, leading to delays.

Task further discusses the exponential increase in cryptocurrency users globally, emphasizing the significant number of users in the United States. He predicts a potential growth of this user base and its impact on future elections, pointing out that senators have taken notice of this demographic.

The speaker interestingly delves into his personal views on voting and the political landscape, highlighting the overarching influence of powerful entities in Congress. Task underscores the unprecedented attention and influence cryptocurrency is garnering, indicating how it has become a focal point of national headlines and a significant factor affecting President Biden's infrastructure agenda.

The video wraps up with Task speculating on the future influence of cryptocurrency, especially with an increasing number of millennials participating in the industry. He poses thought-provoking questions on the potential power shift in politics, with cryptocurrency possibly rivaling traditional banking systems in influence.

In conclusion, the video provides a comprehensive analysis of the intertwining of cryptocurrency with mainstream politics, underscoring its growing importance, influence, and potential to reshape traditional power dynamics in the political landscape.

I'm happy the crypto community came together and expressed themselves. Every day these laws pass in other areas and no one knows anything about them. Perhaps this is a wake up call to government that the crypto industry gives a crap and will voice their opinion. Might make them second guess next time they try and sneak something in.

I think its very well possible for the crypto community to create its own lobbying group. Though I don't think it will really help the average person since it will be the whales pushing opinions.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@jfang003/re-taskmaster4450-4qaaqq)

<center>![pixresteemer_incognito_angel_mini.png](https://files.peakd.com/file/peakd-hive/pixresteemer/8h7BBw1w-pixresteemer_incognito_angel_mini.png)</center><center>Bang, I did it again... I just rehived your post!</center><center>Week 69 of my [contest](/hive-179017/@pixresteemer/the-re-hive-contest-results-week-68-and-start-week-69) just started...you can now check the winners of the previous week!</center><center><sub>6</sub></center>

It will take time for the establishment to reach their goals if they succeed. However, what the end goals are is clear: destroy the censorship resistance and pseudonymity of cryptocurrencies. They will attempt to achieve the former by a bill like this that will make it a crime not to collect KYC information about addresses involved in transactions included in blocks signed by a miner or a block validator. What miners/etc. in the US will have to do is only include transactions involving addresses on a whitelist only including fully KYC'd addresses. That will make mining/staking/validating blocks economically unfeasible in the US. This won't be enough to destroy the censorship resistance in the whole world but it will cause miners to migrate. There are two potential next steps: 1) the US will use its massive influence through international organizations to go after those parties elsewhere in the world 2) coins that have had to do with non-whitelisted addresses will not be welcome on exchanges under US jurisdictions.

If the powers that be are successful at coercing cryptocurrency holders to reveal their identities by whitelisting their funds or risk losing access to their funds, that will practically be the end of the pseudonymity of cryptocurrency.

Now, this won't necessarily entirely destroy the value proposition of crypto assets. Institutions who adopt them take KYC/AML and other registration obligations for granted because they're already regulated to a high degree. In fact, the full integration of crypto assets with the established financial space may well attract more than enough capital to offset investment motivated by more idealistic goals.

The problem is which projects will be able to survive the transition and which will not. I'm guessing Hive might end up creating a compliant fork where claiming funds is conditional upon providing full KYC details. That chain would be the one preferred by all the centralized exchanges while the non-compliant one would be left fully in the decentralized space. Selling coins on the latter chain might prove challenging as they would be considered "high risk". 



Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@reonarudo/re-taskmaster4450-63jjuy)

Bernie just voted this amendment down.
The bill is passing and going to the House with the Original Language.

This is not good as leaves things open to interpretation.

However it still has to go through the house where things could change.
Also would not take effect until 2023.

Plenty of time. 

I don't want to say the industry is too big to fall as that is just jinxing it but it really does feel like there is too many people involved and too much built that we are in a solid place.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@whatageek/re-taskmaster4450-54p2yx)