Could the Bank Secrecy Act Harm Crypto? Coin Center Thinks So - Ep. 571
Unchained
Why the Bank Secrecy Act Raises Constitutional Concerns
The paper is part of a series that began in 2019 and focuses on different aspects of digital cash and the Bank Secrecy Act./nThe new report examines the constitutional separation of powers in the United States./nThe Bank Secrecy Act grants broad authority to the Secretary of Treasury to determine who falls under the category of 'Financial Institutions' for surveillance purposes./nThe expansion of the definition of 'Financial Institutions' raises constitutional concerns regarding the non-delegation doctrine and the concentration of lawmaking power.
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