Elizabeth Napolitano is a news reporter at CoinDesk.
U.S. lawmakers introduced a bill on Wednesday barring federal government officials from doing business with China-based blockchain firms, marking Washington's latest show of suspicion toward Chinese ties in the cryptocurrency industry, according to a statement from the sponsors.
The Creating Legal Accountability for Rogue Innovators and Technology Act, co-led by U.S. Representatives Zach Nunn and Abigail Spanberger , would outlaw government officials from transacting with Chinese crypto companies, in addition to cutting off government employees' use of China-based blockchains, or the networks that undergird crypto trading platforms.
"Within the next decade, every American will have sensitive, private data stored using blockchain technology, so China's heavy investment in this infrastructure poses a colossal national security and data privacy problem," Nunn, a freshman member who joined the House this year, said on Wednesday.
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