{"headers":{"Content-Type":"application\/x-www-form-urlencoded"},"body":"source_lang=&target_lang=PT-PT&tag_handling=xml&split_sentences=1&preserve_formatting=1&text=Is+the+Treasury+a+threat+to+blockchain+and+crypto+adoption%3F&text=The+United+States+Treasury+is+a+bigger+obstacle+to+cryptocurrency+according+to+the+United+States+Senator+Cynthia+Lummis.&text=Only+3%25+of+the+United+States+Senate+attended+the+Texas+Blockchain+Summit+last+week%2C+bringing+in+concerns+from+Wyoming+Senator+Cynthia+Lummis.+%3Cstrong%3EBold%3C%2Fstrong%3E%0A%0ALummis+spoke+at+the+summit%2C+voicing+her+concerns+about+how+the+government+and+federal+agency+views+blockchain+and+cryptocurrency.+She+said+that+the+United+States+Treasury+might+be+a+bigger+threat+to+how+blockchain+and+digital+currencies+can+be+implemented+and+regulated+than+the+Securities+and+Exchange+Commission+%28SEC%29+and+the+Commodity+Futures+Trading+Commission.+Lummis+noted+that+there+might+be+a+skewed+perspective+of+how+Bitcoin+functions+and+pointed+out+that+this+might+have+an+adverse+effect+on+how+lawmakers+and+regulators+approach+blockchain-based+currencies.+She+said%3A%0A%3Cblockquote%3E%E2%80%9C%3Cem%3EI%E2%80%99ve+worked+with+members+of+both+parties+who+didn%E2%80%99t+have+any+interest+in+Bitcoin+and+digital+assets+and+now+we+know+each+other%2C+and+now+we+talk+regularly+about+this.+I+do+think+there+will+be+some+changes+to+that+language%2C+but+it%E2%80%99s+beginning+to+show+a+pattern+in+my+mind+by+the+Treasury+Department%2C+the+IRS%2C+that+we%E2%80%99re+really+going+to+have+to+work+on+keeping+the+heavy+hand+of+government+at+bay.%3C%2Fem%3E%E2%80%9D%3C%2Fblockquote%3E%0A%3Ch2%3EThe+biggest+concern+about+the+blockchain+bill+is+in+the+language%3C%2Fh2%3E%0A%3Cp+class%3D%22default__StyledText-sc-1jtxuc8-0+cPKviz+body-paragraph%22%3EOne+of+the+main+points+of+contention+regarding+cryptocurrency+as+part+of+the+infrastructure+bill+is+the+way+language+is+used+and+how+certain+definitions+might+have+long-term+implications.+The+word+%22broker%22+in+particular+is+being+used+by+those+opposed+to+the+bill.+As+part+of+the+economic+recovery+plan+from+the+global+Covid-19+pandemic%2C+the+infrastructure+bill+will+have+longer-term+economic+ramifications+that+will+carry+forward+in+how+technology+is+used+and+how+miners%2C+exchanges%2C+customers%2C+and+traders+will+be+able+to+interact+with+Bitcoin+and+cryptocurrency.+%3Cstrong%3EBold%3C%2Fstrong%3E%3C%2Fp%3E%0ABoth+Lummis+and+Senator+John+Cornyn+noted+that+the+language+used+regarding+blockchain+and+cryptocurrencies+is+worrying.+Lummis+said+her+concerns+stem+from+the+lack+of+fundamental+understanding+and+how+the+federal+agency+spoke+about+brokers+of+cryptocurrencies+used+in+the+infrastructure+bill+that+is+currently+in+the+midst+of+debate+in+congress.+Cornyn+stated+that+the+language+in+the+bill+came+as+surprise+to+members+in+Congress+who+don%27t+have+enough+knowledge+to+speak+with+authority+on+the+matter.+Both+Senators+offered+that+they+think+the+best+step+to+avoid+misunderstanding+in+legislation+and+how+regulation+might+happen+depends+on+public+interaction+and+engagement+with+the+topic+rather+than+depending+on+those+in+the+legislation+office+learning+about+the+technology.%C2%A0+According+to+Cruz%3A%0A%3Cblockquote%3E%E2%80%9C%3Cem%3EThere+are+not+five+members+of+the+U.S.+Senate+who+could+tell+you+what+Bitcoin+is.%3C%2Fem%3E%E2%80%9D%3C%2Fblockquote%3E%0AWhile+Lummis+might+not+agree%2C+saying+she+saw+enough+understanding+proceeding+the+debate+over+infrastructure%2C+she+also+felt+as+though+the+language+regarding+cryptocurrency+was+likely+to+be+amended+in+the+Bill.+%3Cstrong%3EBold%3C%2Fstrong%3E%0A%0AWhile+there+is+still+room+for+greater+state+support%2C+other+members+of+Congress+have+offered+their+positive+sentiment+regarding+blockchain+and+crypto+use+in+the+country%3A+Treasury+Secretary+Janet+Yellen+is+in%3Ca+href%3D%22https%3A%2F%2Fhome.treasury.gov%2Fnews%2Fpress-releases%2Fjy0318%22%3E+support+of+cryptocurrency+legislation+and+adoption.%3C%2Fa%3E+During+a+Senate+session%2C+Rob+Portman%2C+a+Republican+from+Ohio%2C+said+that+%E2%80%9C%3Cem%3Ecryptocurrency+is+a+digital+asset+that+more+and+more+people+are+investing+in.+We+should+want+that+to+continue%2C+and+continue+in+a+healthy+and+sustainable+way%22%3C%2Fem%3E.%0A%3Ch2%3ECrypto+regulation+is+better+than+a+crypto+crackdown%3C%2Fh2%3E%0AWhile+the+United+States+has+been+struggling+over+the+latest+bill%2C+there+is+a+wealth+of+support+from+those+who+see+the+value+in+the+decentralised+technology.+Edward+Snowden+pointed+out+that+cracking+down+on+the+cryptocurrency%2C+in+the+way+that+China+is+doing%2C+for+example%2C+leads+to+a+greater+rally+for+the+token.+Long-term+adoption%2C+however%2C+is+going+to+be+a+hurdle+if+governments+are+divided+on+how+Bitcoin+can+be+utilised+across+the+globe.","timeout":15}