Absolute nightmare cryptocurrency bill in committee in US congress: US citizens, please follow the instructions below and talk to the representatives in these committees!!!

Bill H.R.4741 which is currently in committee in the house financial services, agriculture, and ways and means committees which would destroy all of defi and the cryptocurrency markets as we know it. Among other things it would:

• Make it possible for all cryptocurrencies besides BTC, ETH and their hard forks to be labelled as securities
• Ban (unapproved) stablecoins outright. Given that a CBDC is coming that will probably be all of them.
• Penalize privacy coins and mixers
• Label smart contracts that take longer than 24 hours to complete as futures contracts and regulate them accordingly
• Authorize the creation of a digital dollar CBDC in which all transactions are recorded
• Absolutely fucking wreck our shit

It's hard to overstate how detrimental this would be to crypto. This would blow an enormous hole in defi and the rest of the cryptocurrency space, and put a huge handicap on it's ability to recover. Even you maxis who are looking at this thinking this might be a good thing really gotta think long and hard about how insanely bad this will be even for BTC and ETH. What is BTC really worth without liquidity from stablecoins and the all of the other cryptocurrencies? What is ETH really worth without defi and all ERC-20 tokens? This would be devstating for crypto and we need to do everything in our power to stop it. At the current moment, this means contacting each of the members of these committees to tell them to oppose this devastating draconian measure. Detailed explanation of bill and how to contact the representatives included in the video below, starting at 6:40 timestamp. If you're in the US and you're invested at all in cryptocurrency please take the time to do this!!!! The best easiest way to kill this bill is here in committee before it can get to the house floor. We cannot afford to lose this fight.

https://www.youtube.com/watch?v=WqsuXlwEjP4&t=393s