America COMPETES Act passes House without ‘disastrous’ provision on crypto -Breaking
[ad_1]

A piece of legislation aimed at addressing supply chain issues to keep the U.S. economy and businesses competitive has passed the House of Representatives — without a provision many in the crypto space had criticized for giving the Treasury Secretary authority to shut down exchanges.
The America COMPETES Act was passed by the House of Representatives in a vote of 222 to 210 on Friday. It was largely voted for along party lines. Jim Himes originally proposed the provision that would have permitted the Treasury Secretary to place fewer restrictions on monitoring financial institutions for suspected money laundering activities and to not allow the public to provide feedback. To protect the Bank Secrecy Act restrictions, however, legislators modified this wording last week.
Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information. This includes data including charts, data buy/sell signals, as well as quotes. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.
[ad_2]
