The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

New Law Would Create ‘Road Map’ for How to Ban Crypto in the US, Warns Crypto Analyst

by Daily Hodl Staff
September 20, 2019
in Regulators

A crypto analyst says a new US Senate bill targeting Venezuela’s state-backed cryptocurrency could create a “road map” for a ban on Bitcoin or any other cryptocurrency.

Among other ambitions, S. 1025, dubbed VERDAD (Venezuela Emergency Relief, Democracy Assistance, and Development Act of 2019, would enshrine into law a 2018 executive order from President Donald Trump that banned American citizens, residents and businesses from trading with the Petro, Venezuela’s state cryptocurrency.

Venezuelan President Nicolás Maduro launched the Petro in February 2018 as an official digital alternative to the bolivar, though it appears the supposedly oil-pegged crypto asset, derided as a scam, never got off the ground.

Some crypto advocates see the Senate’s bill, which got placed on the legislative calendar under General Orders in June and has bipartisan support, as a potential gateway to severely stringent crypto regulations.

[the_ad id=”36860″]

Says Jason Brett, the founder of the Value Technology Foundation, in an interview with Forbes,

 “The implications for this are huge because it could be Bitcoin or some other cryptocurrency inserted into this language. We’re talking about a road map for how to ban a particular cryptocurrency.”

The bill states that transactions that “relate to, provide financing for, or otherwise deal in any digital currency, digital coin, or digital token, that was issued by, for, or on behalf of the Maduro regime are prohibited beginning on the date of the enactment of this Act.”

It also empowers the Secretaries of State and Treasury to create an assessment of how any Maduro-backed crypto could be used to circumvent U.S. sanctions.

[the_ad id=”36860″]

“Not later than 180 days after the date of the enactment of this Act, the Secretary of State and the Secretary of the Treasury, after consultation with the Chairman of the Securities and Exchange Commission and the Chairman of the Commodity Futures Trading Commission, shall develop a methodology to assess how any digital currency, digital coin, or digital token, that was issued by, for, or on behalf of the Maduro regime is being utilized to circumvent or undermine United States sanctions.”

You can check out the proposed legislation here.

[the_ad id=”66406″]

[the_ad id="42537"] [the_ad id="42536"]
Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Industry Announcements

  • LandX Closes Private Round Securing Over $5 Million in Private Funding
    December 4, 2023
  • Chromia Confirms Mainnet Release in 2024
    December 4, 2023
  • CAGA Crypto – Decentralized Financial Movement Unveiled on MEXC and Bitget
    December 4, 2023
  • TMNG Tokens Successfully Listed on MEXC Crypto Exchange
    December 1, 2023
  • Sui Surpasses $150 Million in TVL, Showcasing Blistering DeFi Momentum
    November 30, 2023
  • Duelbits Announces Landmark Collaboration With Football Icon Luis Suárez
    November 29, 2023
  • BinaryX Launches AI Chat Game ‘AI Hero’ With Limited NFT Mints
    November 28, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$41,756.19
$41,756.19
1.57%
Ethereum
$2,226.01
$2,226.01
0.4%
Cardano
$0.402636
$0.402636
1.47%
XRP
$0.618935
$0.618935
2.1%
Dogecoin
$0.089518
$0.089518
1.04%

Spotlight

  • Bitcoin (BTC) About To Repeat 2020–2021 Rally to $60,000, According to Crypto Strategist
    November 27, 2023
  • ‘Decision Time’ for Ethereum Imminent, Says Crypto Analyst Benjamin Cowen – Here’s What He Means
    November 27, 2023
  • Trader Warns Chainlink (LINK) at Risk of Correction, Updates Outlook on Ethereum-Based Altcoin
    November 27, 2023
  • $524,000 Bitcoin Price Possible Over Next Four Years, According to On-Chain Analyst PlanB – Here’s Why
    November 27, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2023 The Daily Hodl