BTC-Newswire

Bitcoin proponents kick against potential US crypto ban

Press Releases Crypto News Crypto-News Bitcoin proponents kick against potential US crypto ban

A petition aiming to prevent a proposed crypto ban in the U.S. has garnered attention. The Chamber of Digital Commerce has outlined concerns regarding the Digital Asset Anti Money Laundering Act, introduced by Sen. Elizabeth Warren and endorsed by 19 U.S. senators, as first reported by Bitcoin.com.

Crypto ban petition gaining grounds

The petition entitled “Stop The Crypto Ban,” which was reportedly launched on Change.org by the Chamber of Digital Commerce on Dec. 16, has amassed nearly 10,000 signatures as of the current writing.

Described as a “crypto ban,” the Chamber asserts that this act can hinder innovation, adversely affect job prospects, and undermine the growing potential of the U.S. economy in the cryptocurrency sector.

The leading U.S. blockchain and digital asset trade association emphasized the importance of citizens’ involvement, urging them to sign the petition to halt the proposed cryptocurrency ban. The chamber had stated that as concerned citizens of the U.S., there is a need to sign the petition to stop a proposed ban on cryptocurrency.

Additionally, the association outlined that by endorsing the pledge, individuals commit to not supporting any cosponsor of the Digital Asset Anti-Money Laundering Act in any future election campaign.

Last December, Warren introduced the Digital Asset Anti-Money Laundering Act, a bill that experts have touted as “the most direct attack on the personal freedom and privacy of cryptocurrency users and developers we’ve yet seen.” Since its introduction, the bill has garnered substantial support.

While recognizing the importance of regulation in ensuring the safety and integrity of the digital asset space, the Chamber expressed reservations about the current iteration of the legislation, emphasizing that it essentially acts as a “ban on digital innovation.” The Chamber elaborated on its concerns, encompassing potential economic impacts, re

Go to Source to See Full Article
Author: Ogwu Osaemezu Emmanuel

Did you like this?
Tip BTC Newswire with Cryptocurrency