Democratic bill gives Treasury ‘dictatorial’ power, crypto advocates warn

Published January 26, 2022 11:34pm ET



Included within new China competition legislation is a proposal that would hand the government increased power to restrict cryptocurrency transactions.

The America Competes Act, unveiled by House Democrats on Tuesday and meant to shore up the country’s economic competitiveness, includes language that some fear would allow the Treasury Department to block financial institutions from offering customers access to cryptocurrency networks.

Already a print subscriber? Click here to login/register your account

Trusted reporting.Unlimited access.

Subscribe for full access to Washington Examiner coverage, expert political analysis, and subscriber-only journalism.

Get Unlimited Access

Already a member? Log in

Cancel anytime.