First in Punchbowl News: Sen. Dick Durbin (D-Ill.) introduced a bill Thursday that would broadly prohibit the Social Security trust funds from investing in crypto products.
The three-page bill, which you can read here, would amend section 201 of the Social Security Act to ban the agency from investing in “any digital asset or any crypto-related investment.”
Durbin is a longtime crypto skeptic who’s been pushing for a sharp crackdown on crypto ATMs for years. But this is a more significant shot-across-the-bow at a time when crypto is largely ascendant in Washington.
