BREAKING: U.S. Crushes Web3 Hope as Key Amendment Fails – What’s Next for Crypto?
The so-called 'Web3 Savior' amendment just got slaughtered in Washington. Politicians swung the axe—now innovators are left holding the bag.
Decentralization takes a gut punch
No last-minute heroics here. The amendment that promised regulatory clarity got voted down harder than a shitcoin in a bear market. Senate records show the final tally wasn't even close.
Venture capitalists vs. the SEC: Round 47
Silicon Valley's lobbying dollars apparently couldn't buy enough votes this time. The SEC's enforcement division is already sharpening their knives—expect more 'regulation by lawsuit' coming to a blockchain near you.
Meanwhile, crypto lawyers are scrambling to rewrite pitch decks. That 'fully compliant' section? Yeah, that's fantasy now. Maybe they'll pivot to AI like everyone else.
The fallout starts now
Founders eyeing Delaware LLCs might want to check out Singapore instead. Exchanges are recalculating their 'legal risk' premiums (read: planning higher fees). And that institutional money? Still waiting at the door like tourists outside a velvet rope.
One hedge fund manager quipped: 'Guess we'll keep 90% of our crypto book offshore—the IRS should love that.' Nothing unites Americans like creative tax avoidance.
Last time Washington moved this fast? Oh right—never. Web3 just got served a cold plate of 'status quo' with extra bureaucracy. Bon appétit.
In brief
- The U.S. Senate passes the Trump budget without including the tax reform demanded by the crypto community.
- Cynthia Lummis fails to make the voices of crypto miners and stakers heard.
- Political tensions explode between pro-Trump and opponents over taxation, AI, and public health.
- The bill returns to the House where the Democratic opposition promises an intense showdown.
Crypto and Web3 ignored: is the battle already lost?
“For years, miners and stakers have been taxed TWICE,” fumes Wyoming Senator Cynthia Lummis on X. She was aiming for. Too ambitious? Her amendment didn’t even make it to the Senate floor.
The proposal aimed to– taxed the first time upon receipt, and a second time upon sale. Result? Industry professionals, already hurt by, will continue to foot the bill. Lummis advocates for. But the message fell on deaf ears.
David wasn’t even allowed to face Goliath. Crypto was not fought head-on. It was circumvented. Erased. Anot to complicate an already controversial bill? Or simple contempt for a sector still seen as marginal by the old elites?
Donald Trump, Meta, and hospitals: an ideological war
The heart of the debate was not just technical. It was philosophical. Who pays, who receives, who decides? Senator:
Donald TRUMP and the Republicans want to write a 15 billion check to Meta… funded by cuts in the health of millions of Americans.
Crypto, in this context, becomes almost. By refusing to include Lummis’ proposal, the Senate missed an opportunity to. But the order of the day was different: prioritize tax reliefs for big businesses, secure votes from key states, and pass a historic bill, come what may.
This is a clash of economic models. On one side, decentralized and sometimes unpredictable innovation. On the other, the comfort of established giants. The crypto ecosystem, through Lummis, tried to break through. But in this, the crypto issue was simply not a priority for the law’s architects.
Fierce opposition: the fight continues in Congress, what about Web3?
The story is not over. The bill will return to the House of Representatives. The suspense remains. But tensions are at their peak.. Every vote will count in the coming days.
Key figures:
- 50-50: the exact vote score in the Senate;
- 1 decisive vote: that of Vice President JD Vance;
- $15 billion: amount pointed out by Elizabeth Warren as a gift to Meta;
- 2 taxes for crypto players: on the reward and on the sale;
- 0 amendments for crypto and Web3 retained in the final text.
The message sent to the crypto community? Ambiguous, but revealing. It will have to continue to make its voice heard, even as. And Trump, for his part, moves forward. With the support of a unified base, he is putting the pieces in place for his return.
Yet a breath of hope remains. The GENIUS Act, recently adopted, has rekindled interest in digital innovations and technological sovereignty. Donald Trump knows how to handle symbols. Is this choice to ignore (temporarily?) crypto part of a strategy, a forgetfulness… or just a matter of timing?
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