The RESTRICT Act Isn’t About Banning TikTok, It's About Expanding Government Powers
The Breakdown
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The Restrict Act Could Be Used to Target Crypto
The bill would allow the Commerce Department to take actions that look very similar to sanctions without such a high standard. Coin Center question why these broad powers to criminalize transactions need to be duplicated across multiple governments. While OFAC sanctions contain a carve out for transactions primarily dealing with information and protected speech activities, the Restrict Act does not protect free speech in the same way. Your First Amendment rights to free speech will not protect you from government regulators who are actively maneuvering to ban Bitcoin.
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