Ethereum And ETHE Soar Despite Congress Attack On DeFi In Infrastructure Bill

Government officials are challenged to apply legacy frameworks to cryptocurrency regulation due to crypto's permissionless, decentralized nature.The Senate's position on a tax treatment for cryptocurrency participants remains unclear as partisan bickering and spite denied a vote on amendments.The "compromise" position did not provide an exemption to the broker definition for developers of digital assets and their protocols, a threat to Ethereum.The Ethereum network solidified its position as a leader in the crypto space last week with the successful London hard fork and EIP-1559's enactment.A key feature of Ethereum 2.0 will be increased scalability, which furthers the network's medium of exchange objectives.