TSI editor’s note: International entrepreneur Simon Black, aka Sovereign Man, analyzes federal legislation which he argues could effectively make cryptocurrency illegal.
“Any ‘zero knowledge’ encryption, whether it’s for storing files, sharing photos, texting friends, making video calls, sending encrypted emails, etc., will become illegal under this legislation.
And to be crystal clear about what that means, CRYPTOCURRENCY will effectively become illegal under the LEAD Act as well.
That’s right. Cryptocurrency relies on data encryption too.”