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New U.S. bill proposes banning government use of Chinese-developed blockchain and USDT

US lawmakers proposed a new bill called CLARITY on Wednesday, which prohibits federal government officials from conducting business with Chinese blockchain companies. The bill also explicitly prohibits US government officials from trading with iFinex, the parent company of Tether, the issuer of the world's largest stablecoin, USDT. The bill also prohibits US officials from trading with The Spartan Network, The Conflux Network, and Red Date Technology Co. (the development company behind the digital yuan). It is reported that the CLARITY bill is co-led by US Representatives Zach Nunn (Republican from Iowa) and Abigail Spanberger (Democrat from Virginia), aimed at prohibiting US government officials from trading with Chinese crypto companies and cutting off government employees' access to networks supporting blockchain or cryptocurrency trading platforms in China. Neither of the bill's two sponsors are members of the US House leadership or hold important positions in committees.

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