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Congress considers bill greatly expanding feds’ power to seize your money, Bitcoin, and property

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On May 25, four U.S. senators introduced legislation that would significantly expand the power of the federal government to seize citizens’ money when traveling in or out of the United States. (2010 file photo/Scott Olson/Getty Images)

Four U.S. senators have proposed legislation that would significantly expand the power of the federal government to seize citizens’ money when traveling in or out of the United States.

On May 25, Sens. Charles Grassley (R-Iowa), Dianne Feinstein (D-Calif.), John Cornyn (R-Texas) and Sheldon Whitehouse (D-R.I.) introduced in Congress the Combating Money Laundering, Terrorist Financing and Counterfeiting Act of 2017, legislation that makes it much easier for the federal government to seize assets transported overseas or into the United States.

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