If the RESTRICT ACT (“Tiktok ban”) passes, it will be used to attempt a ban on #bitcoin.
Have any of y’all actually read the text of the bill?
This isn’t about Tiktok. This gives the executive branch total control to police the internet.
Wake up.
https://twitter.com/BitPaine/status/1639348978784563200?s=20
hey William,
the bill targets "covered transactions" or "holding" controlled/directed from one of the "rogue" nations, though.
The bill broadly grants the Executive branch more power for digital policing, which is worrying. But Treasury already has this power (divestiture/sanctions)
I wouldn't leap to saying Bitcoin would be threatened just yet (especially since there are pro-bitcoin/crypto Senators sponsoring this), but I think the broad powers it grants to the exec branch are reason enough to probably fight it
Agree and more important to open more off/on fiat ramps to continue leaking fiat into Bitcoin, specially using chartered-banks at the state level like Florida might do shielding sovereign individuals from the federal powers
