Advocacy group Coin Center says the broad language of the RESTRICT Act could open the door to ban crypto networks like Bitcoin.
Highlights
- A bipartisan group of senators introduced a bill earlier this month that seeks to bolster the federal government’s powers in fighting perceived foreign technology threats.
- Advocacy group Coin Center says the bill’s language is so broad that it could be used to prevent Americans from conducting cryptocurrency transactions or engaging with networks like Bitcoin entirely.
- The bill has garnered the support of 21 lawmakers who’ve co-sponsored the bill as well as the White House, which has urged Congress “to act quickly to send it to the president’s desk’��s desk, according to a blog post from the advocacy group.
- Coin Center raised concerns about the potential scope of the bill, which could be “exploited in order to ban Americans from using entire classes of technologies
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