Remember everyone freaking out about how the America COMPETES bill would destroy crypto? A bipartisan group of lawmakers is already working on getting rid of that part.

Democrat Ro Khanna, Republican Nancy Mace, and others are now moving to get rid of the language crypto supporters were worried about in the America COMPETES legislation. Jim Himes, who drafted the language that upset everyone here, now supports narrowing it.

I'm often frustrated by this sub's tendency to resort to immediate paranoia any time there's a political development rather than learning about how the policymaking process works (hint: it's extremely slow and full of spots along the way for things to be changed). There's just no evidence that American political leaders have any interest in banning crypto. To the contrary, there's a perhaps surprising amount of bipartisan support for crypto in general, even if there are disagreements about the specifics. Getting a more realistic understanding of the politics of crypto will help you become a smarter investor.

Story here: https://www.politico.com/news/2022/01/31/crypto-ransomware-safeguard-himes-00003734

Tweet from Rep. Mace here: https://twitter.com/RepNancyMace/status/1488581917276524544