Regular model checking is a well-established technique for the verification of infinite-state systems whose configurations can be represented as finite words over a suitable alphabet. It applies to systems whose set of initial configurations is regular, and whose transition relation is captured by a length-preserving transducer. To verify safety properties, regular model checking iteratively computes automata recognizing increasingly larger regular sets of reachable configurations, and checks if they contain unsafe configurations. Since this procedure often does not terminate, acceleration, abstraction, and widening techniques have been developed to compute a regular superset of the set of reachable configurations. In this paper we develop a complementary approach. Instead of approaching the set of reachable configurations from below, we start with the set of all configurations and compute increasingly smaller regular supersets of it. We use that the set of reachable configurations is equal to the intersection of all inductive invariants of the system. Since the intersection is in general non-regular, we introduce $b$-bounded invariants, defined as those representable by CNF-formulas with at most $b$ clauses. We prove that, for every $b \geq 0$, the intersection of all $b$-bounded inductive invariants is regular, and show how to construct an automaton recognizing it. We study the complexity of deciding if this automaton accepts some unsafe configuration. We show that the problem is in \textsc{EXPSPACE} for every $b \geq 0$, and \textsc{PSPACE}-complete for $b=1$. Finally, we study how large must $b$ be to prove safety properties of a number of benchmarks.

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