New Law Grants U.S. President Sweeping Powers to Block Digital Asset Access, Sparking Concerns

A new law grants the President of the United States extensive powers to block access to digital assets, causing significant concern among commentators on X. Scott Johnsson, a leading figure in the digital assets field, voiced his criticism of the law on June 6, highlighting its extensive reach: “It’s hard to see how this isn’t intended to be a user-level ban power by the President on any protocol/smart contract that’s deemed by the Treasury Secretary to be “controlled, operated or [made] available” by a foreign sanctions violator. Breathtaking scope and implications to corral users to KYC/permissioned chains.” On June 5,