Ted Cruz: Crypto Just “Got Screwed” in US Senate

Senator Ted Cruz (R-TX) on TW: Crypto got screwed tonight. There’s a partisan disagreement on spending, so Dems objected to ALL further amendments. That means NO vote on Wyden-Lummis to lessen the damage this bill will do to crypto, & NO vote on the Cruz amd. to repeal the new crypto rules altogether.

The result? The Senate’s going to inflict billions of dollars of damage on the growing & exciting crypto industry & drive much of it overseas. There aren’t 5 Senators who understand much of anything about crypto.

What the Senate said tonight: Let’s tax the hell out of something we know nothing about, so we can pass a giant bill we haven’t read, and spend the American people’s money on stuff we can’t afford. It’s reckless & harmful.