News U.S. Government Proposal Aims to Outlaw Chinese Crypto Networks, Blockchains

[Admin]

A new bipartisan bill under the title "The Creating Legal Accountability for Rogue Innovators and Technology" (CLARITY) Act aims to blanket-ban Chinese blockchains from being interacted with by U.S. government officials, citing possible threats to national security.

U.S. Government Proposal Aims to Outlaw Chinese Crypto Networks, Blockchains : Read more

 

[Sleepy_Hollowed]

So close, they should just ban it all, it’s wasteful, write only ledgers would do that and cheaper.

 

[KraakBal]

"Rogue Innovators" What even.
It sounds like the world needs more rogue innovators actually

 

[williamcll]

Weren't crypto banned in China already? This seems counterintuitive to American interests because a lot of anti-government chinese use crypto to trade.

 

[digitalgriffin]

Crypto bros: Good luck with that

US govt: what's the difference between email and a website?

Intel offices: this allows us to backdoor all end to end encryption right?

Foreign actors: Now we only have 32,767 other spy programs to use.

Rest of World: *whiskey and popcorn*

 

[wr3zzz]

Weren't crypto banned in China already? This seems counterintuitive to American interests because a lot of anti-government chinese use crypto to trade.

Crypto is banned from the Chinese financial system bu the technology is not banned. This is similar to India and other countries that have "banned" crypto, and what America should have done. What it means is that nobody can pay for goods and services in China with crypto nor can they convert crypto to Chinese yuan but mining and developing crypto is not illegal, and not to be confused by the many illegal crypto miners in China who are illegal because their rigs access electricity illegally.