The post U.S. Bill Seeks to Outlaw China-Made Blockchains and Tether’s USDT for Government Use! appeared first on Coinpedia Fintech News
A bipartisan bill called the Creating Legal Accountability for Rogue Innovators and Technology (CLARITY) Act has been introduced in the US House of Representatives that blocks federal government officials from doing business with China-based blockchain companies. The bill also specifically prohibits transactions with Tether parent company iFinex as it seeks to strengthen national security and data privacy. Co-sponsored by Representatives Zach Nunn and Abigail Spanberger, the legislation aims to prevent China from having a “backdoor” to national security intelligence and Americans’ private information.