An agreement to remove a provision in the America COMPETES Act allowing the Treasury secretary to block international crypto transactions has been reached. By NelWang
, would have allowed the Treasury secretary to block or “impose conditions” on transactions, should the official find that the transaction or the accounts involved are engaged in money laundering. The overall bill is aimed at spurring economic competitiveness with China., however, that the bill could therefore allow the Treasury secretary to block all U.S.
The proposed provision would have removed the comment period and 120-day expiration, according to Coin Center, in addition to explicitly adding digital assets to the types of financial transactions that the Treasury secretary could restrict.
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