Why US crypto bill marks biggest surveillance state expansion since the Patriot Act: Galaxy – DL News
- The US Senate Banking Committee’s new draft crypto bill grants sweeping new powers to the federal government.
- It marks the most significant expansion of the 2001 USA Patriot Act.
The new draft crypto market structure bill marks the most significant expansion of government financial surveillance power since the 2001 USA Patriot Act, warns Galaxy research head Alex Thorn.
If passed, it would grant the Treasury Department sweeping new powers to freeze financial transactions, police decentralised finance protocols, and pressure crypto activity outside of America’s jurisdiction.
“All of this adds up to major victories for senators seeking additional curbs on illicit finance,” Thorn said in a note shared with DL News. “They have…
