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 bill also explicitly blocks U.S. government officials from transacting with iFinex, the parent company of Tether, the issuer of the world's largest stablecoin, USDT. The aim of this latest legislation is to ensure the nation's "foreign adversaries … do not have a backdoor to access critical national security intelligence and Americans' private information," the lawmakers said in a statement.
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