🇺🇸 US Crypto Bill: more fear than harm?

Ethereum activates London hard fork, US Crypto Bill gets reviewed, NFTs catch fire again... [View in Browser]( [Gift Tree]( 06/08/2021 Ethereum activates London hard fork, US Crypto Bill gets reviewed, NFTs catch fire again, Facebook’s metaverse faces crypto critics… your weekly Biiiiiites brought to you by Milan from Ledger. Were those Biiiiiites sent to you by a friend ? [Subscribe here]( [Infos I should already know about]( [Ethereum London hard fork is now live.]( This upgrade, known as EIP 1559, will add more predictability to Ethereum transaction fees, introduce greater block size variance to limit congestion and reduce miner rewards. [Facebook’s metaverse project under Web3 criticism?]( Stani Kulechov, Aave’s CEO, tweeted that “instead of Facebook building the gated metaverse let’s build an open-source metaverse that is owned and governed by its users”. [US Bank JPMorgan unveils a Bitcoin fund to its wealthiest clients.]( It will be presented as the cheapest and safest investment vehicle on private markets. catching fire again?]( NFT market hype is gaining momentum with surging trading volume after a decline in market sales in April. Even [Louis Vuitton releases an NFT mobile game]( embarking the player on a journey to visit the brand’s history. [Google getting at ease with crypto?]( A Google update states that “advertisers offering crypto exchanges and wallets targeting the US may advertise those products and services when (...) they are certified by Google”. [Bitcoin SV (BSV) under a 51% attack.]( The blockchain created as a Bitcoin Cash fork was targeted by a group of miners for a 12-hour long attack. Wanna share our Biiiiiites with a friend ? [Send →]( [Infos I should already know about]( [The growth rate of global crypto users in the last six months (Crypto.com Research).]( million]( [The volume of transactions recently processed by NFT marketplace OpenSea in... two days.]( [Manage your Digital Assets now on Ledger Live →]( [Insight of the week]( US Crypto Bill: more fear than harm? It’s quite a paradox that an infrastructure bill proposed the biggest crypto tax ever. US lawmakers plan to raise $28 billion through digital assets’ taxes to fund a $550 billion act for roads & bridges. Unsurprisingly, fear and criticism is growing in the country’s crypto community. Is the US Blockchain industry at risk? Despite criticisms, this crypto bill has silver linings. The US crypto community widely attacked a bill dedicated to bolster surveillance over digital transactions. The bill's first version was considered to be excessively repressive as it sought to impose disclosure requirements on any entities interacting with crypto. Perianne Boring, President of the Chamber of Digital Commerce, [argued]( it could “kill part of the industry or drive it overseas”. Following harsh criticism, an [updated bill]( specified that only digital asset transfers’ providers would be concerned. How can we interpret this regulatory episode? Above all, it shows that the US crypto wild west is bound to disappear. SEC Chair Gary Gensler [plans]( to expand the agency’s authority in regulating crypto trading. “While I’m neutral on technology (...) I’m not neutral about investor protection”, he [said]( in a Bloomberg interview. This bill however has silver linings. It may be a sign of maturation rather than outright repression. It highlights crypto is here to stay and expand as Washington would not bother raising taxes on a sinking ship. Besides, the US crypto community counts on an increasing number of [prominent senators]( - including Ron Wyden and Pat Toomey - who sided with their interests. Behind this crypto bill lies a crucial debate over the future of the internet. Will US lawmakers understand that crypto is much more than a speculative hype? So far, the US legislative crypto-debate was conducted behind closed doors, attached to a must-pass bill at the last minute. It’s probably not enough for a technology that promises to revolutionize trust. In the 1990s, US lawmakers acknowledged the Web revolution and built a flourishing business environment. They now have the opportunity to do the same with crypto rather than regulate it out of existence. [I wanna know more]( Want to deep dive into crypto’s amazing history? Then click [here]( to read our Ledger Academy article. Click [here]( to watch our School of Block episode called “What are Blockchains used for?”. [Inside Ledger]( Want to know how Ledger is becoming your gateway to the Web3 galaxy? Click [here]( to read our dedicated article. Do you simply want to buy crypto? 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