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What defeat in crypto?The bill is going to be revised,I guess.
It's great that the crypto supporters all over the USA can unite and work as a coalition,in order to stop this legislation(or at least the part that threats crypto miners and developers as brokers).
Putting cryptocurrency/blockchain developers and cryptocurrency miners in the "brokers" category is simply wrong.I'm sure that the senators will remove this mistake.Politicians are usually ignorant,when it comes to new technology and innovation,but they aren't that dumb.
I am being pessimistic on this situation, that's why I said that it's a defeat for crypto and even if it's being revised, I am sure that the bill won't be favoring the many. Plus, I don't know how these old fossils in the senate will be able to understand that? Pretty sure that anti-crypto groups and individuals are lobbying for this to pass or don't have any revisions.