Navigating Legislative Waters

The America COMPETES Act sailed through the House of Representatives with a narrow 222-210 vote recently, aimed at fortifying the U.S. economy and supply chain. This is about as thrilling as watching paint dry—unless, of course, you’re a fan of political drama or cryptocurrencies.

Crypto Stakeholders Take a Deep Breath

One of the more contentious provisions in the original proposal had drawn ire from many in the crypto industry. The clause in question would’ve handed the Treasury Secretary some potentially overreaching powers to scrutinize financial institutions linked to money laundering. Sounds like a bad sci-fi movie plot where one entity has too much power over everyone’s digital assets, right?

Changes That Matter

Fortunately, the House recognized the uproar, and lawmakers amended the wording. The