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US Lawmaker Proposes 18th-Century Tactics to Combat Crypto Crime
US Lawmaker Proposes 18th-Century Tactics to Combat Crypto Crime
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BTCCSquare news:
Representative David Schweikert has introduced a bill invoking colonial-era 'letters of marque and reprisal' to authorize private citizens against offshore crypto criminals. H.R. 4988 would permit asset recovery operations targeting foreign actors through unconventional means—a digital parallel to privateers seizing enemy ships.
The legislation responds to growing frustrations over transnational crypto thefts. 'Our current tools are failing to keep pace,' Schweikert stated, framing the proposal as necessary for the 'digital battlefield.' The mechanism requires security bonds to prevent abuse, though critics warn of potential vigilante risks.
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