Petition to Stop Proposed Crypto Ban in US
A petition has gained traction to stop a proposed crypto ban in the US. The Chamber of Digital Commerce launched the “Stop The Crypto Ban” petition on Change.org, which has received nearly 10,000 signatures so far. The chamber is calling on concerned citizens to sign the petition in order to prevent the ban on cryptocurrency and to pledge not to support any cosponsor of the Digital Asset Anti-Money Laundering Act in future election campaigns. The chamber argues that the proposed legislation, currently supported by 19 US senators, is a threat to innovation, job prospects, and the growing US economy.
The Digital Asset Anti Money Laundering Act, introduced by Senator Elizabeth Warren, is facing criticism from experts who view it as a direct attack on the personal freedom and privacy of cryptocurrency users and developers. While the chamber acknowledges the importance of regulation in the digital asset space, they express concerns about the current form of the legislation. They argue that it will stifle digital innovation and outline concerns regarding economic impact, restrictions on innovation, as well as security and privacy issues. Additionally, they note that the limitations of the bill could hinder consumer access to financial tools and services within the digital asset ecosystem, impacting financial inclusion and choice.
Senators Named in the Petition
The petition specifically calls out the senators supporting the Digital Asset Anti Money Laundering Act. The named senators are Elizabeth Warren (D-MA), Roger Marshall (R-KS), Lindsey Graham (R-SC), Joe Manchin (D-WV), Dick Durbin (D-IL), Robert Casey (D-PA), Jeanne Shaheen (D-NH), Michael Bennet (D-CO), Gary Peters (D-MI), Richard Blumenthal (D-CT), Angus King (I-ME), Tina Smith (D-MN), Catherine Cortez-Masto (D-NV), Sheldon Whitehouse (D-RI), John Fetterman (D-PA), Ben Ray Lujan (D-NM), Laphonza Butler (D-CA), John Hickenlooper (D-CO), Raphael Warnock (D-GA), and Chris Van Hollen (D-MD).
Urging Senators to Consider the Future of Digital Assets
The chamber urges the named senators to carefully consider the long-term implications of the Digital Asset Anti Money Laundering Act and its impact on innovation, economic growth, and consumer freedom. They believe in a future where digital assets are integrated into the economic framework, fostering innovation, protecting consumers, and enhancing the US economy. They call on senators to play a pivotal role in shaping this future instead of stifling it.
Hot Take: Petition to Protect Crypto Innovation and Economic Growth
A petition to stop the proposed crypto ban in the US is gaining momentum. The Chamber of Digital Commerce argues that the Digital Asset Anti Money Laundering Act, supported by 19 US senators, is a threat to innovation, jobs, and the economy. They have started the “Stop The Crypto Ban” petition, which has nearly 10,000 signatures. The chamber calls on concerned citizens to sign the petition and pledge not to support any cosponsor of the bill in future elections. They believe that the legislation will stifle digital innovation and raise concerns about economic impact, restrictions on innovation, and security and privacy issues. By opposing the bill, they aim to protect consumer access to diverse financial tools and services, promoting financial inclusion and choice.
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