“essentially gives the Treasury Secretary unchecked and unilateral power to ban exchanges and other financial institutions from engaging in Bitcoin transactions.” This is buried around page 1,482 of the almost-3,000-page bill. “special measures” can only be imposed through regulation, would require public notice and can only be imposed for up to 120 days. The provision in the Competes Act would strike those limitations.

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Source and link to Reddit topic: Use the Resistbot to ask your representatives to Please vote “no” on the America Competes Act.

Author: Reddit.com