The Treasury Secretary already has this power in limited quantities. Under existing law, the regulator, in consultation with the Federal Reserve Chair, Secretary of State, federal regulators and other agencies can impose these restrictions on transactions. However, a public rulemaking notice must be issued alongside the restriction, and the restriction will lift after 120 days unless the Treasury Department implements a rule continuing the block after the comment period.
Related posts
-
UK Pension Scheme Embraces Bitcoin, Marking a Historic Leap Into Crypto
A UK pension scheme has allocated 3% of its portfolio to bitcoin, marking a groundbreaking move... -
Standard Chartered’s Crypto Custody Unit Seeks $50 Million
Standard Chartered’s Zodia Custody is raising $50 million to... -
New Global Dollar Stablecoin Backed by Robinhood, Kraken, Paxos and Other Crypto Heavies
The Global Dollar Network, whose participants will earn yield for helping foster adoption of USDG, also...