Controversial US Sanctions bills calls for cryptocurrency research

U.S. president Donald Trump signed a foreign sanctions bill which contains some planning on cryptocurrencies.

Last month, U.S. Congress passed the bill building massive sanctions on Russia, Iran, and North Korea. In 2016, the open-ended investigation is carried into Russian interference, because it is a politically defensible development. They develop strong opposition of the Trump administration to the charter.

Eventually, Donald Trump endorsed law previous week, he strongly castigates the measure in the following signing statement.

Blockchain industry

However, for the blockchain industry, the bill contains an order for the development of a national security strategy focused at “resisting the financing of terrorism and different forms of illegal finance.”

There is also a separate provision, which highlights on a survey into “illegal finance trends”, states cryptocurrencies as a field to study in depth.

The text calls for cryptocurrency research

“[A] discussion of and data regarding trends in illicit finance, including evolving forms of value transfer such as so-called cryptocurrencies, other methods that are computer, telecommunications, or internet-based, cybercrime, or any other threats that the Secretary may choose to identify.”

As per the bill, starting draft tactics is because of congress within the upcoming year. And it is set to enter the input from US financial regulators, the State Department and Department of Homeland security.

Recent news: India’s Finance Ministry Panel discontinue cryptocurrency usage in the country

Therefore, in May, another bill is submitted as a section of a wider Department of Homeland Security Legislative package. Congress is strongly stepping its steps to disclose the controversy in detail.

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Qadir AK

Qadir Ak - Co-founder of Coinpedia Blog - His interest as crypto Author, Editor, Speaker at cryptocurrency conference has made him known as passionate blogger and startup in Asia.

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