tl;dr
The President of the United States has been granted extensive powers to regulate digital assets, raising concerns in the crypto community. The new authority allows intervention in digital asset transactions linked to foreign entities and potentially harmful activities. The legislation broadly define...
President granted extensive powers to regulate digital assets, sparking concern in crypto community. Legislation broadens definition of digital assets, aims to prevent transactions aiding terrorist activities. Critics fear law could force users into highly regulated blockchain environments. Legislation's impact extends to digital privacy, innovation, sparking debate on financial freedom. Advocates emphasize financial privacy as essential for a free society, warn of compromised decentralized financial system. In a significant legislative development, the President of the United States has been granted extensive powers to regulate digital assets, sparking concern across the crypto community. This new authority allows the President to intervene directly in digital asset transactions, particularly those that could be linked to foreign entities and potentially harmful activities. Experts argue that this could lead to significant “overreach” and impact the autonomy of digital asset users. THE LEGISLATION'S IMPLICATIONS FOR CRYPTO The law, inserted into legislation by Senator Mark Warner, broadly defines “digital assets” as any digital representation of value or contractual rights created or transferred using distributed ledger technology. This includes cryptocurrencies, digital tokens, smart contracts, and related technologies. The President’s new powers aim to prevent transactions between US citizens and foreign digital asset entities seen as “aiding terrorist activities.” Additionally, the law mandates stringent control over foreign financial institutions that facilitate these transactions on American soil. The move has been criticized for potentially forcing digital asset users into “highly regulated and permissioned” blockchain environments. Scott Johnsson, a prominent digital asset analyst, expressed concerns, stating that the law could effectively ban users from interacting with any digital platform or protocol considered under foreign control that violates US sanctions. This interpretation suggests that the US could leverage these powers to push users towards networks that comply with Know Your Customer (KYC) and other regulatory frameworks, limiting the broader potential of decentralized finance. PRIVACY VS. POLICY: THE DEBATE OVER BLOCKCHAIN AND FINANCIAL FREEDOM The legislation’s potential impact extends beyond transactional control, touching on broader digital privacy and innovation issues. The use of blockchain technology for privacy-enhancing purposes has been a contentious issue, highlighted recently by the US Department of Justice’s actions against services like Wasabi Wallet, known for its coin-mixing services that obscure crypto transaction origins. This has sparked a larger debate about balancing regulatory oversight and the right to financial privacy. Naomi Brockwell, a prominent crypto advocate, recently voiced her opposition, highlighting that financial privacy is a cornerstone of a free society. Many in the crypto community share her concerns and see these regulatory measures as intrusive and threatening personal freedoms. Edward Snowden, a vocal advocate for privacy rights, also commented on the ongoing privacy challenges within the Bitcoin network and other cryptocurrencies. He emphasized the critical need for privacy at the protocol level, warning that without robust privacy measures, the vision of a decentralized financial system could be compromised. This new legislation, supposedly aimed at “safeguarding national security,” raises important questions about the future of digital assets, privacy, and the role of government in an increasingly digitized financial landscape. As the community and experts analyze the full implications, the global debate on privacy, freedom, and regulation in the digital age intensifies.
More about United States Steel Corporation
Company: United States Steel Corporation
Business Segment: Manufacturing - Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)
Revenue: $8,715,185,000
Profit Margin: 11.2%
Operating Margin: 0.2%
Return on Equity: 3.46%
Current Ratio: 79.23
Debt to Equity: 0.0489
Market Cap: $17,743,000,000
Price to Earnings Ratio (P/E): 39.13
Earnings Per Share (EPS): -0.129
Dividend Yield: -0.069
More about Semler Scientific Inc
Semler Scientific Inc Summary
Semler Scientific, Inc. develops, manufactures, and markets proprietary products that help healthcare providers evaluate and treat patients with chronic conditions in the United States. The company is headquartered in Santa Clara, California.
Industry: LIFE SCIENCES
Sector: ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS
Market Cap: 211057000
Current Price: 10.74
Dividend Yield: None
EPS: 2.78
P/E Ratio: 9.72
Beta: 0.329
Volume: 65881000
Relative Volume: 40
Volatility: 0.238
Performance (Week): -0.127