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Unless you\\u2019ve been living under a rock for the past 48 hours, you\\u2019ve likely heard about the last-minute addition of a cryptocurrency tax to the U.S. Senate\\u2019s forthcoming infrastructure bill.\\xa0

In this episode of the \\u201cBitcoin Magazine Podcast,\\u201d host David Zell sat down with one of D.C.\\u2019s strongest Bitcoin supporters, Representative Warren Davidson (R-OH), to talk about the specific language and potential impact of this cryptocurrency tax legislation. As it stands now, the bill\\u2019s language is so broad that it could apply to a myriad of crypto-related activities that have no business being taxed. Worse still, the additional compliance costs that this bill could trigger would gravely jeopardize the viability of companies and startups in the Bitcoin space. Davidson blasted its stunningly poor verbiage, lamenting that it must have been written by people either totally ignorant about the industry or worse, by people looking to harm it. In his view, passing the bill in its current form would be a disaster both for the cryptocurrency industry and the American economy overall.\\xa0

Davidson spoke about how this bill marks a departure from America\\u2019s longstanding role as a nation that spearheads innovation. Should it pass with its current language, he warned, America risks missing out on one of the most revolutionary technological strides in history and falling behind our adversaries in this vital innovation.\\xa0

\\u201cAmerica led in the Industrial Revolution, the advent of the automobile and the development of the internet,\\u201d said Davidson, \\u201cand now America is about to forfeit that leadership with this new technology.\\u201d\\xa0

The congressman discussed how the bill might be altered for the better and how much time there is to fix it. At the end of our discussion, Davidson called on the Bitcoin community to jam up the phone lines of their elected officials and implore them to fight the cryptocurrency tax language in the bill. You won\\u2019t want to miss this.\\xa0