I'll just quote this from one of the admins of the Sia Foundation (decentralized cloud storage):
I'm not one to ping the entire server over something trivial. As such, this is not trivial; a congressional bill has been proposed which substantially inhibits the ability of developers to build cryptocurrency applications from the US. This is a problem for more than just the Sia Foundation, it's a problem for the entire industry. If you live in the US, today is a good day to get on the phone and call your representative. Check out the tweet linked for instructions on what to do.
https://twitter.com/jchervinsky/status/1422987836903628803
For more background on what's happening, check out this EFF article:
If you consider yourself a US citizen of crypto, then consider this a civic duty. Protect our legal rights! Make sure the US doesn't kill its crypto industry.
I'll TL;DR what's actually in the bill, the topic's been covered in depth on other forums.
Anyone that has a stake in crypto of any size has to file an annual form with the IRS. Because the proposed amendment is so poorly written, it could apply to developers that work on cryptocurrency projects, people that mine crypto with spare CPU cycles, even websites that display ads about crypto- even if they never bought, sold, or have investments in crypto.