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House Bill Could Let Treasury Secretary Block International Crypto Transactions

A provision in the America COMPETES Act would give the Treasury secretary the power to block U.S. firms from interacting with some crypto transactions or exchanges, if it becomes law.

By Nikhilesh De
Updated May 11, 2023, 6:28 p.m. Published Jan 28, 2022, 12:37 a.m.
Rep. Jim Himes (D-Conn.) introduced a provision allowing the Treasury Secretary to block certain financial transactions to a bill aimed at spurring competition with China. (Al Drago/Bloomberg via Getty Images)
Rep. Jim Himes (D-Conn.) introduced a provision allowing the Treasury Secretary to block certain financial transactions to a bill aimed at spurring competition with China. (Al Drago/Bloomberg via Getty Images)