Today on “The Breakdown,” NLW looks at a topic that has seized the attention of the crypto policy community. Hidden in the America COMPETES Act is a change to the Bank Secrecy Act that would allow the secretary of the treasury to compel financial institutions to conduct extraordinary surveillance or even prohibit financial activity entirely on accounts they suspect of money laundering without any public notice or checks and balances. NLW breaks down the proposed change, the response and what it says about the state of the crypto lobby.
Related posts
-
2024 Republican Platform Defends Bitcoin Mining and the Right to Self-Custody Crypto
The Republican Party has integrated cryptocurrency issues into its 2024 platform titled “Make America Great Again.”... -
Donald Trump’s Official Republican Platform Pledges to Halt Crypto ‘Crackdown’ in U.S.
“Republicans will end Democrats’ unlawful and unAmerican Crypto crackdown and oppose the creation of a Central... -
Weekly Crypto Roundup: Beldex Tops Gainers, Celsius Token Sinks 44%
On Monday, July 8, the global cryptocurrency market capitalization...