Cops vs. crypto clash looms in the Senate |
Cops vs. crypto clash looms in the Senate
Law enforcement groups are raising concerns about a key section of a landmark crypto bill.
Democrats including Sen. Catherine Cortez Masto, a former federal prosecutor and Nevada attorney general, are pushing for changes to address law enforcement concerns. | Rod Lamkey Jr./AP
A rift between cryptocurrency and law enforcement groups is threatening a landmark digital asset bill championed by Senate Banking Chair Tim Scott.
Groups representing police and prosecutors have been quietly raising concerns in recent months about a small but pivotal section of the crypto bill, which Republicans are hoping to advance soon after Congress returns to Washington next week from its recess. But crypto supporters, who pushed for the language, aren’t budging on the need for its inclusion.
The provision in question would protect certain crypto software developers or firms from being prosecuted for illicit activity committed by others on platforms they create. In a series of previously unreported letters to lawmakers, groups including the National Sheriffs’ Association and the National District Attorneys Association said that the language would impede law enforcement’s ability to crack down on financial crime.