Regulators in multiple states in the U.S. warn that the encryption bill may weaken law enforcement capabilities.

According to Mars Finance, Bloomberg reported that regulatory agencies in several states, from Alabama to Montana, have warned that the crypto market structure bill being considered by Congress could weaken states' enforcement capabilities in combating cryptocurrency crimes. This concern is particularly noteworthy at a critical time when cryptocurrency prices are nearing historic highs and fraudulent activities are on the rise. Regulators stated that as criminals attempt to take advantage of the strong demand from investors for digital assets, the timing of weakening enforcement capabilities is especially inappropriate.