But one industry was surprisingly thrown into the fight last minute: cryptocurrency. When the Senate finally announced the bill text earlier this month, it included a provision that could impose devastating new tax requirements for wallet developers and miners. Suddenly, the cryptocurrency industry and its few lobbying shops faced one of its largest regulatory threats ever. They needed all of the digital foot soldiers they could get to help rally senators and fix the problematic language.
So, they turned to their vast and vocal online community of investors and posters.
“We are at an advantage in grassroots organizing because we’re a structurally networked community,” Neeraj Agrawal, director of communications for Coin Center, told The Verge. “Everybody in cryptocurrency knows everybody else for the most part so information moves really fast across various social channels.”
After weeks of negotiations, the Senate approved a bipartisan $1 trillion infrastructure package Tuesday authorizing over $500 billion in new spending to improve roads, bridges, and other physical infrastructure like broadband and EV charging. It’s the largest domestic spending bill in over a decade.