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Crypto policy advocacy group warns of ‘disastrous’ provision in a new US bill -Breaking

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Jerry Brito (executive director, non-profit cryptocurrency policy advocacy group Coin Center) suggested that Americans contact their elected representatives over privacy concerns and due process concerns.

Brito’s Wednesday Twitter thread (NYSE:), claims that the House recently released the America COMPETES Bill Includes a provision that he said would be “disastrous” for crypto users from both a privacy and a due process standpoint. According to the Coin Center director, a section of the bill on the “prohibitions or conditions on certain transmittals of funds” Proposed by Representative Jim Himes would give the U.S. Secretary of the Treasury “unchecked and unilateral power to ban exchanges and other financial institutions from engaging in cryptocurrency transactions.”