Cryptocurrency industry's D.C. lobbying efforts appear to have failed

The big news this week in crypto was the insertion of harsh regulatory language in the infrastructure bill. Some interpreted it as nothing less than a potential kill switch for much of the cryptocurrency industry in the U.S., and the first step towards a de facto ban of Bitcoin (BTC-USD). An intense lobbying effort appeared to have garnered support for an amendment to the bill that would have softened that language, but that pretty much blew up last night. Led by Janet Yellen, reports the Washington Post, the Biden Administration has thrown its weight behind another amendment that does little to limit any regulatory push against crypto. Former Coinbase (NASDAQ:COIN) Chief Technology Officer Balaji Srinivasan: "Make no mistake, this is a backdoor Bitcoin ban ... Compliance is impossible. Their intent is to criminalize full nodes, lightning nodes, and most Bitcoin wallets." Messari Crypto yesterday announced a $21M funding round, led by Stevie