Bitcoin Forum

https://www.congress.gov/bill/115th-congress/senate-bill/1241/text#toc-idea0e9489fc8f46379f95bb56c8bbbda5


https://youtu.be/izwKpotVQLw


http://www.zerohedge.com/news/2017-06-14/you-wont-believe-stupid-new-law-against-cash-and-bitcoin

Use to be honest country they use to call it war department meaning they go to war then end war come home, now they go to war to some contry call it "defense".

I think they will outlaw crypto because America is "land of free" just like they did with poker and they will call the law something deceptive like their "defense" department probably call it "Freedom of Crypto" act...

I love how America has beat the Soviet Comunists in double speak and put them to shame.

Land of the free, my ass.

It relates mostly to crossing the border with undeclared funds. It does not make cryptos illegal. It does expand civil forfeiture so the constitution can continue to be trampled on. Good think I'll be an EU citizen soon, maybe time to renounce my us citizenship.

https://en.wikipedia.org/wiki/Haymarket_affair

What have "soviets" to do with this "American Heritage"?

nope, it not say anything about using bitcoin/cryptocurrency/digital currency is illegal. it illegal if you not declare it or use it illegally.
also know almost every parts of u.s government already recognized cryptocurrency as asset or other form of currency/asset.
don't forget everyone love the techs, included the u.s government them self.
if this bill is passed it mean nothing to the crypto world, if someone caught in this drama bill they would of just referred to irs who already said bitcoin classified as asset. it probably illegal in the use case kind of way, like funding terrorist using bitcoin, even fiat is illegal.

this poster have no clue of the bill and should delete or change the title of the post.

Well it's very good news for bitcoin holders as it will affect on bitcoin's popularity and value on the future.
Everything will be more anonymous and faster than using fiat but of course there will be disadvantage for example , terorist able to use bitcoin in more ways and variuous coin

This bill will make BTC illegal in USA, what is "good news" for BTC holders here?

That wont happen I'm citizen in Europe problem is American aggressive hate of freedom forces all their anti-citizen laws on everyone around the planet so Europe will just force their anti-freedom laws on us later. Whatever America hates (mainly freedom) they force it on other countries specially Europe.

It is not like they can stop the natural order of things. I do not think the demand will be reduced. It also didn't work in the era of prohibition. There will be workarounds until they join what they cannot fight. When they ban A, some thing called B will emerge and C is already in development. When they finally ban B it is time for C, etc. It is an illusion to think in a technologically advancing world to stop processes like decentralization and cryptography. Dinosaurs clinging to their power are afraid of losing it, but they are a dying race.

Bullshit, you will have to declare if you cross the border and own more than $10,000 worth of btc. It does nothing to make bitcoin illegal but does try to go after tax evaders and non-existant btc terrorists. It also expands the unconstitutional civil forfeiture. The US government takes your money without due process or standing.

I was thinking it was the disaster that happened in London and usa yesterday that is affecting the price of crypto currencies but from this news many Americans crypto currencies traders are selling off their coins and price of most of the coins has dropped over 25% now. Though another opportunity to buy cheap as this law is norgratal

This law has no effect on price, fucking read before commenting. It does nothing to legal holders and you would be required to declare what you own over $10,000 when crossing the boarder.

Check this video about this:

https://www.youtube.com/watch?v=sd8WoAeifkM

I do think when they ban it the prices will plunge because most citizens are brainwashed just look at poker, this will be similar when USA banned poker for their citizens.

Quote me where it says the bill will make Bitcoin illegal.

It will be like your other law where you haras your citizens living abroad making them declare everything they own have etc threatening them with jail why many don't go overseas also banks will not let american's open accounts this will be the same epople will keep BTC under 10000 fiat scared to cross the border and when they fill out those forms they are alreading comiting a crime i reads omewhere that thousend of american's put in jail every year for filling out correctly the tax or mortage form but so many papers prosecutor finds "crime" that is why your "land of the free" has more prisinors in jail then china (the hole planet has less prisoners).

I wish America goes back to republic like it use to be the real land of free and leave fascist policy to other countries. My wish for American's is to discover freedom once again AND LEAVE BITCOIN ALONE!

Do You see "detailing a strategy to interdict and detect prepaid access devices, digital currencies, or other similar instruments, at border crossings and other ports of entry for the United States;"

Interdiction of digital currencies is not about control of them.

Also, world is not USA. USA sucks, there are far more better countries where you can live.

Yeah, it is about you declaring at border.

Good luck scanning my brain for 24 word seed hehehe

>>>Also, world is not USA. USA sucks, there are far more better countries where you can live.<<<

Ha ha, but America has dozens of aircraft carries and loves to use them! Maybe Russia can say %^#$@#$ you America but eventually they will even force Russia to do what they are told, just give it some years!

So people who don't travel much are safe?

No law can stop cryptos. Only time is winning.  ;)

I read this cogress thing but I didn't understand whether it is purely a proposal or almost a law? I hope US government is not that stupid to forbid cryptocurrencies, because it will lead to 1) growth of side economy and 2) Russia winning in their competition who's more powerful. Whereas USA is thinking about forbidding cryptos, Putin was present on the meeting related to cryptocurrencies and seems to be proud of Buterin especially.

this bill is crap, it mean nothing for crypto. example is ARK, if you have 12 words passphrase for ARK you can print it out or remember it then come in/out to the U.S with hundred of millions with just this passphrase. just saying, whole ARK itself is not 100million yet.
HINT; to regulate crypto more affective is to regulate exchange like coinbase where bitcoin/fiat or fiat/bitcoin flow but then almost everywhere and everyone now is taking bitcoin

I guaranteed 100% when they pass a law (not this one) to ban crypto 99% of "law abiding" American's will not use crypto they obey very well what they are told. That's my impression of most people (not just American's). If that happens price has to go down, I'm sure of it because many will not rebel.

Now you are just fantasizing.

I wish i was. I would like everyone to be free but look at the record of America putting otthers under their boot they are way better at it then Germany Or Rome or anyone ever was! They do it with a combination of deception and force and call the process "nation building" or whatever but they push their anti-freedom agenda very well and you think Russia is imune today, maybe yes but what if they get a pupet in the Kremlin after Putin is gone?

It always fascinating me, how "The Great Democracy In The World" is having the least democratic rules.
Even their elections is not a real democracy, since you can win the most people votes and yet lose the presidency.
They have so much rules that stops your freedom, and yet anyone can buy a gun and do with it whatever he wants.
Save us from your democracy and let us be free...

Thank you to usa, you can sure that it will make crypto ecosystem more powerful.

I don't know why Americans don't even know their history, I read their history and the people who started their country HATED DEMOCRACY! They said American's cant be free in a democracy so they started a representative republic. If the laws (constitution) stops the rulers then they have freedom if the laws stops (regulates) citizens they have tyranny. Americans live in a "democratic" tyranny and no longer have a republic like once but they think they have a democracy when the American president Jefferson said democracy is a tyranny like 2 wolves and sheep voting what's for dinner.

I just don't get it why someone who says they love freedom so much act like they hate it. Actions tell the truth not words!  

There are political risks of ICO project, so many ICO projects don't accept buyer from American. I am not a American, I don't know why cryptocurrencies are not welcome in this conuty famous with freedom.

When I was a kid I grew up under the freedom hating communist and use to dream about going to America. Now I'm happy to live under the tyranny of freedom hating democrats/socialist (they are about 50% bad as Communists) but they are 3x more free then American government (maybe more then 3x) and I'm happy I'm not an American citizen, I got to live in the lesser evil.

Hey Uncle Sam, leave Bitcoin alone, mind your own business!

America is not the world.

And this bill has not been passed by congress. Just a proposal that will most likely get thrown out.

I disagree with you. Just look at how much anti-freedom laws Americans have managed to inflict against their citizens and even me in East Europe, this is just looking during my short life. They keep marching forward twards whatever the hell this wicked agenda America is pushing so no, they will get this going if not this year then next year or next decade. I have never seen (in my life) good come out of america only wicked that steps over their citizens and they are way more effective and punishing freedom of their citzens they my commies ever were (I would take my comunist evil over amaerican any time, because my family was able to bribe them and not be as regulated but I hear Amerca if they catch you you in jail!  no bribing american enforcers they love to enforce! ).

Anyway I just want America to go back to the republic it use to be and leave the world alone! Thats what I want!

The stupid thing is I can leave bitcoin in my wallet at home. Cross the border into the United States with zero bitcoin in my phone wallet. Access my home computer remotely once in the US. Send my wallet phone in excess of $10,000 bitcoin.

When I'm crossing the border I can be totally truthful and state I am not carrying more than 10K worth of currency.

Yeah.. on all the exchanges that are US govt 3 letter agency complaint. (which is most of them)
Oh and many of the coins are too such as Ripple and any hosted at Github.
Need more ? Should i go on ?

Ok i will ;)

Hope you all paid your US & CAN taxes on your trade profits.. or risk going to jail.

From what I was told from your Americans is that you can't do that because your country reads your email so you can't do that if you do then you go to jail. You are no longer free like your granddaddy was. Sorry Americans.

i don`t understand,even your country reads your email,how they know you tranfer your bitcoin after you cross the border?

If you are cashing out cryptos and not declaring them on taxes this could also target you. Pretty lengthy prison sentence and hefty fines, plus civil forfeiture.

Okay, but what if you are crossing the border with your assets in an online wallet and not a physical device?

Since it's untraceable and can be accessed anywhere, this law applies to owning. It doesn't say what happens if you have it in a cold wallet inaccessible.

My progressive/socialist/democrat country doesn't ask me at border yet to declare stuff like America does under penalty 10 years jail and our commies haven't put 5 people in jail for taxes yet your America has millions in jail. I hate that my country hates freedom and regulates everything but they suck at their job so I have more freedom right now then America problem is America is good at it and is forcing my country to take my freedom more and more which is happening slower then in America but we are all loosing freedom that is why I ask you America and uncle sam please go back to your old ways when you use to be a freedom loving country and lave me alone! Let me be free stop your anti-freedom regulations love the old bill of rights your grandfathers use to have! Is that to much to ask?

Bottom line, the problem with crypto if you have a lot is not buying it, it is converting it into other assets. Most will not want to do this down dark alleys, but will use exchanges to convert, which will easily be regulated by the govt and therefore controlled.   

Even now if you have a ton of coins then selling and converting into another asset is not simple and normally requires several steps assuming you are not selling BTC.  Many places such as counbase have limits on selling and withdrawing.  Yes, you can get them raised, but just more steps and again provides easy way for the govt to regulate.

As for declaring coins if the value is over $10k,sure you can delete wallets when crossing the border, but again for many this just adds more steps and complication.  In addition, it adds fear and if you get caught they will take it all.   


I don't think it will be hard for govt to regulate coins.  They don't have to regulate the whole system just specific points along the chain.   Coins that are designed to work around it will have a hard time getting listed on exchanges that are regulated.   Sure there will always be the black market it exists now in other assets, but mom and pop are not going to use it.

America was a free country when it was ran by progressives. From 1933 until the 1970s, then conservatism came and ruined it. Now the assholes that call themselves progressive are mostly right-wing.

i think you are a little bit out of topic...the question is: how do they know you tranfer your cryptocurrency out of the country...any country..not just america.

I think I wrote it already, but I'll say it again:

1. They "protection/safety" software or whatever they call it that's on your computer finds you have crypto and then runs into the central database and flags you as crypto person
2. annual sofware compares database where you are flagged to the cross border where you checked you don't have crypto since you use "cold paper" as you posted here
3. investigator says you broke law becasue now they read your email see you have crypto and you are money laundering
4. you pleed guilty not to get 10 years get down to 1.5 years

Something like that.

But no not in America, this cna't happen but not from what I see in your movey I saw your actors say 20+ time patriot act lets me do read email so I imagine they do more then this. Problem is you force this on other countries that's what I don't like america why don't you leave the rest of the planet alone? My country is tyring to do the same they just suck at it don't put any more presure on them

Americans just like a disaster. That's why the ico are refuse those to investing on the ICOs. I mean if this is not a good news for us to hear the crypto will get regulate same as banker and another financial system.

Yes, but at some point assuming you want to have access to your coins and covert to other assets then the govt will be able to regulate what you do with them.  I am talking about a significant amount of coin and you not wanting to use dark alleys.

See my post above for more detail.

Your crypto assets are never in any country, or on any device, they are on the blockchain.
That fact invalidates the classic definition of ownership, as all it takes to take control is a private key, which proves nothing.
These shit for brains politicians just don't comprehend how it works.

I don't think this bill will ever be passed as this is just a bill. A bill has no power over the land because this law is just for discussion as of now. Be worried if this bill gets enough traction though as it could get ugly even for bitcoins. This is temporary as bitcoins and crypto is a threat to the status quo.

I'm from East Europe and I have read don't worry it's not a bill yet then next thing this banned or that banned! I have seen a bunch of things like that from America. So I give it 99.99% that there will be some anti-bitcoin regulation from America. I HOPE I'M WRONG this time, but I have never ever been wrong about these things because I figured out years ago that America does what my countries ex. communist use to dream of and they are very very good at it. I wish I'm wrong but I have never been wrong and I hate myself for realizing this, it's much better to be ignorant. Ignorance is bliss!

Yes but how to enforce in a decentralized system?

It's easy when they have access to your laptop! They put that in the law (the shadow part you American citizen are not entitled to see since you are not "cleared" for clearance).

the AI can see what you have an how much and report to the central database then prosecutor can put you in jail for a few "laws" like tax evasion, money laundering, crossing border not declaring "unregulated crypto money" etc... 10 years in jail you settle for 2 ond have a criminal record now.

How's that answer?

Re-read the topic title.
And maybe stick to the cawing crow routine i heard since 2013.. they can't stop us.
..like the guy who posted that tired old fail cliche earlier here.  :D

News Flash.. they can and they DO !
Meanwhile some guys using Localbitcoins in Florida were arrested by the FBI in a parking lot.

If they try and stop Crypto then yeah it's going to have a massive impact.
Just because some users get away with it occasionally makes no difference.

For example..
How many of you cocky stupid mouthy retards used PAYPAL with crypto ?
Had your account seized yet ?

I don't need political rabble from noobs.
It doesn't matter which party is pulling strings.. they are all same shit different pile.
You all want to spout off like you know things with your noob accounts.
But line up and raise your hand if you paid your taxes on any crypto profits.

yeah i thought so.. so STFU idiots.

Get smart and do your homework morons..

http://www.coindesk.com/localbitcoins-users-criminal-charges-florida/

http://www.coindesk.com/irs-bitcoin-tax-guidelines-mean/
http://www.coindesk.com/canada-revenue-agency-tax-rules-apply-bitcoin/

Go to jail quicker kidiot profiteers  ::)

PS:
How to enforce in a decentralized system the noob asks ?
News Flash: this shit ain't decentralized ahhahahha :D
Wake the fuck up little kiddys.

I've read your posts, all you do is complain and insult people.  You must have very low self-esteem that you do that to strangers on the internet.

P.S.

Don't judge a book by its cover.  It may say newbie under my name, but I've been involved with crypto since the beginning and probably longer than you.  My account was made the same year as yours, the difference is you ranked up by posting garbage rants and insults. This is a place for discussion of ideas and information, not malevolence.

This point makes no sense at all. Are they goint to check if all travelers have a pendrive with a btc wallet? Are they going to check their smartphones to see if there is a btc wallet with funds? Are they going to calculate the amount stored in USD? What reference will they use? Coinbase? Stamp?
But the thing is they don´t even need to take their wallet with them if they remember their seed. Will the border agents ask them if they own bitcoins and if they remember their seed?

The US Embassy ask for social media accounts, and study them.

With the rise of all of these crypto credit cards (ala tokencard, monaco, etc.), will this give us an avenue to buy things without having to worry about big brother?

After read most of the replied, what make you all not understand about it? The bill mean nothing to user of digital currency like Bitcoin, if you use it the legal way. It's beyond believe that so many people can't comprehend a simple bill like this. No! It do not make all or any crypto illegal if this bill is pass.

Yes i heard this too as well as other things such as massive organizations etc.
They have huge systems in place to monitor people and they don't deny it either.
In order to watch people they have to find them LOL
I seen a show on TV about this and they make no effort to deny it.
Any US citizen can be put on the watch lists simply because of a political view.
It doesn't take much.

And money laundering is tracked already which is what the big problem is and would be with Altcoins.

This crap is no different than digital transfer of FIAT across borders etc.
And if "Mr.Joshua" the noob was here long enough he'd know that in 2013 Coindesk posted that FBI story because the guy moved 30k in BTC which violated ANTI-Money laundering laws.

And yeah i have an attitude because NOOBS show up saying "They can't stop us"
As the guy JUST SAID on this very topic..
Just like i heard all the time constantly when i warned you all this regulations shit was coming..
and you all lined up to laugh at me and mouth me off etc.

They did so i am 100% entitled to be a dick and yell I TOLD YOU SO !

I warned you all loud & clear about all this back in 2013 and onward and i was dismissed by the vast majority.

@Mr.Joshua
You are wrong.. know how i know ?
I'm here.

There is not a rule having an attitude here.
Being shocked by blatant stupidity posting tangibly proven false info.
Which is what happened on this topic.

You all line up to say "they can't" with you noob accounts.
And then i post they already did and here is proof all of it from years before you got here.
That makes you STUPID.
Know what stupid means ?

And you can blame yourselves.
I did not get the rules implemented.. YOU ALL DID with your dumb ass shitcoin faggotry.
I told you your dumb ass behavior would bring it on to yourselves and surprise surprise here it comes.

@Mr.Joshua
You implied i showed up just top call you all stupid.
Maybe but who brought up the points i mentioned ?
No one.
My comments were higher quality than all of yours combined.
Because i know more about this stuff than you NOOBS.

Seen my link to the SEC fraud warning issued bu the US govt ?
I am the only one who posted that too.
Not you guys.. you smart ass's didn't know it existed.
You have your heads shoved up your ass's naive & oblivious.

I have probably thousands of crypto bookmarks.. need more links ?
How about one more ?

http://www.coindesk.com/coinbase-users-court-bitcoin-irs/

Which one of you already posted that again ?
Oh that's right ..none of you.

May be you'd better go to australia becasue bitcoin is legal there. That's new land of cryptos if US will make crypto illegal.
http://investmentwatchblog.com/on-july-1-australia-will-make-bitcoin-legal-money/
sooner or later all country should accept cryptocurrency. Why they make law to ban crypto, Because banking industry will colapse. And the govermnet not smart enough, They should embrace cryptocommunity if the government will survive.

Banning crypto coins would be impractical and unrealistic.
What we're really talking about is regulations etc.

As in they are allowed to exist.. but !

The "but" is that you will have to pay taxes for example on your exchange profits.
And.. that exchanges themselves will collect your picture ID etc to keep tabs on you.
This is already happening.

You guys fail to see WHY exchanges have a "getting verified" system in place.
They do it for one single reason.. LAW.

AML/KYC laws exist and are enforced and are utilized heavily by US govt 3 letter agencies.
How do you think US govt got the owner of KickAssTorrents info from Coinbase ? (to arrest Artem)
Which is funny because BigVern laundered millions there an got away with it.

I've gone through all this for years.
You all say the same stupid shit..

The same type of stupidity where users play dumb about Paypal's TOS with crypto.
Crypto has known it is against their rules all long since min 2012.
yet look at the market sections.. see 1,000's doing it ?
I seen some of them say they get caught and simply make a new account.
Well what happens when your account is seized and you can't pay the guy who bought BTC via PP ?
The anon forum guy vanishes.. that's what.

Yes that is one of countless forms of regulations employed ALREADY in crypto.
With much more on the way guaranteed.

Bottom Line:
Crypto is an island.
Ties to FIAT keep the life blood flowing.
If noobs can't show up here like they did en mass and chant "How do i send my money here?" on the Cryptsy chat box then we have a rather large problem.
Back then they all chanted no.. we don't need ties to FIAT.
Bullshit !

A currency can not be marooned on an island.
If value can not be moved from one currency to another we got problems.

And funny enough it's me who has been advocating breaking that barrier all along too.
I support faucets and mining etc.
It's how i got into crypto.. i never showed and spent my real money on this crap.
..like all of you Investards.

What kind of idiot buys crypto shitcoins with real money ?  :D

And if you do ?
There is a trail and a link etc to be guarded and regulated.

PS:

https://www.ag.gov.au/CrimeAndCorruption/AntiLaunderingCounterTerrorismFinancing/Pages/default.aspx


in comparison..

http://www.finra.org/industry/aml


You were sayin' ?

All crypto? Speak for yourself yankie boy.

This is the reason for bitcoin in the first place. Remove control from the controlling government.

The more that the government goes after bitcoin (and alt's) the more the price will rise. Think of drugs, more rules and regulations and the bigger the war, the more profit !

What are they going to do ? Ban the internet ? Ban VPN's ?

They can try but they will not succeed. Shut down polo, I will go to bitshares dex !

Ban coinbase ? I will use wallofcoins and localtbitcoins

The problem is the noobs with weak hands that don't understand the whole backstory of crypto

And this is why decentralisation and anonymity are so important. Hoping for the right decisions in the coming months.

decentralization  ?

I take it you seen ETH ranked as no. 2 ?
It is centrally controlled.
It's an ICO which is the antithesis of decentralization.
It has ICO's on it which makes it even worse.
It's traded for profits on mostly govt controlled centralized exchanges.

Anon ?

No thanks.
That will make what we're talking about here worse.
Compliance is the key to adoption.
Either you support regulations or crypto is going no where.
Unless you see a bright dark market niche coin future  ::)

There is an expansion of the search and seizure there from the last mention, but, guess what, if the government is looking for a reason to seize your wallets, then that is because you have done something pretty damn wrong to get there.  These regulations are not created so that the police can ride up and down the street and randomly ask for a person's crypto wallet for a quick look.

Do you put that title up there to get more thread traffic or can you honestly not read the words in the law that YOU linked to?  I see this here all the time, a thread will say "the sky is red" and then post pics of the blue sky.  I know that the drama addict in your guys just needs a deep conspiracy, but that set of regs is pretty clear and would not affect a normal crypto user in the US at all.

"normal" ?

And i love your avatar.. you are advertising Ethereum Gambling.
Both of which are on highly shaking ground legally.

You are missing the point..
Take for example the wide sweeping AML/KYC regulations implemented in crypto.
Those were put into place because of a minority.
Yet affected all 100% of the users on the given exchange.

Get it yet ?

PS:
I am sure the fed's are eye-balling crypto related GAMBLING regulations as well.
Just because you are doing something and did not get caught yet doesn't mean it's ok.
Law is coming and we are just getting started.  :o

And it's the schemes like your ICO avatar gambling advertisement that is bringing it on to us all.
Affecting even REAL currencies like Litecoin that have to suffer because of scammy crap like ETH.

I hope by allowing bitcoin in the US. Gives great advantage to bitcoin's reputation and reinforces bitcoin in the eyes of the world.
For the negative side that will arise from the regulation, hopefully can be overcome and does not affect the state of bitcoin in this world.

Trying to ban cryptocurrencies is like trying to fight the war on drugs. It'll only expedite the creation and adoption of more anonymous crypto's

I agree with that. The bitcoin and other currencies will be used more if they are banned.

The Bill proposes to add  “prepaid access devices, digital currency,” to list in Section 5312(a) of title 31, United States Code.

And this list already contains "(K) an issuer, redeemer, or cashier of travelers’ checks, checks, money orders, or similar instruments".
https://www.law.cornell.edu/uscode/text/31/5312

Do you guys really believe that cashiers checks, money orders, etc will be banned?

My take is that the proposed law in the United States does not change much when it comes to the legality of crypto currencies. To understand why I would review the following guidance that was issued over 4 years ago. https://www.fincen.gov/sites/default/files/shared/FIN-2013-G001.pdf (https://www.fincen.gov/sites/default/files/shared/FIN-2013-G001.pdf) The critical question is which crypto currencies meet the definition of de-centralized virtual currency and which are centralized virtual currencies. The latter likely have serious legal and regulatory problems if they do not have an MSB registration.

Can someone explain to me how a premine or an ICO can work without a central depository and a single administrator?

Edit: Ripple was the subject of a civil enforcement action. https://www.fincen.gov/news/news-releases/fincen-fines-ripple-labs-inc-first-civil-enforcement-action-against-virtual (https://www.fincen.gov/news/news-releases/fincen-fines-ripple-labs-inc-first-civil-enforcement-action-against-virtual) but Bitcoin has not. What is the difference? See the guidance above for the answer.

Ouch, where is the 'freedom' in US? :( Even so, I don't get how they will track down the Bitcoins of every user. I know its easily to track large companies, and does it mean they will block all exchange sites?

This is looking quite bad for Bitcoin, if its users decrease. If this is true, rich people would have risks of all assets being 'controlled' by the government, so yes, indeed this is encouraging people to store gold/cash overseas instead.

I don't think this will tackle the main issue of criminals using Bitcoin, and I don't know what will.

What makes you think this is about Bitcoin and not Ethereum or some other ICO / pre-mine?

It is about control where the funds have been gained and where they are stored.
They will apply the same "safe harbor" kind of rules as for personal data, but for cryptos: servers in the USA under USA regulation and needing to comply with banking transparency laws (ie: taxes on exchanges companies profits, and taxes when you btd2usd your gains).

The idea is to avoid capital evasion thst is not traceable (Towards china especially), and to make sure everybody will pay taxes on their capital gains.
It means that the government feels like the crypto world is going to yield massive revenues soon to early investors like us (only 3M ppl in the world deal with cryptos according to a report... jfgi)

Imho, not a bad thing for 3 reasons:
1- it will give a legal frame to the cryptos, helping it to spread more (maybe one day my Chase account will act as a BTC wallet too!!).
2- if the gvt thinks about such law, it means they believe the btc will re-explode soon.
3- all the panicking f-tards will sell and the price of BTC will drop... giving another reason to buy more at good price before it raises again.

I said years ago and a few times since on this matter that..
Govt's like the USA's will not try and "ban" crypto.
Why ?
The very first thing that jumped out at me thinking it over was..
The actual logistics of doing it.

Take for example if this forum wanted to regulate scam coins and stop them from being posted.
So now we need an army of people who will work 24/7 to go through code and back ground checks on people etc scanning coins and their teams.

That is simply not happening.
And trying to put BTC etc back in the bottle isn't going to work now.
So they will continue to do what they are doing now..

BUT !

Like i also said they will be waiting where ever there is a link to FIAT.
That bridge is crossed regularly as the entry point to get into crypto.
Not too many start like i did by showing up with 0 cents invested ..mining or faucets etc.

And they do not need as much effort or resources to regulate that angle of things.
Hell they are already doing it with AML/KYC client type stuff with crypto exchanges.

So no .. there will be no "ban"
But i do expect tighter & tighter regulations over time

If they are planning to ban crypto currency even if you are planning to start anonymous currencies the fine and jail time for using that will deter more people from using it,they could book you for laundering money and you might end up in jail for a long time,so the fact is you really cannot challenge any government with these sort of things.

I am not an american citizen, does this policy have any effect on the limitations of Bitcoin ?.
As long as this policy has no impact on the use of Bitcoin in my country, it is not a big deal.
I think it's a wise move.

I guess your America is way better then my country, in my country they put you on the list for no reason sometimes at random or sometimes because you critisized the governement (in my country they consider that you did something wrong) and then when they search you they can alsways find something to put you in jail that is why they make 1000s of regulations. . Our ex president said once i can put any anomy away because i can always find what he did wrong!

But again your America is fair not like my country where everybody has "done something wrong"

America is far from fair and you don't have to do anything wrong for them to seize your money. That's what civil forfeiture is, it illegally circumvents due process.

This was due to happen.

The bill is probably going to be passed to be honest. Because the government is just a bunch of central bank supporters as we all know because although the Fed is supposed to be an independent bank, it is just controlled by the government.


Yep. Especially anything relating to crypto. Look at BurtW, his home got raided because he traded p2p with bitcoin.

Think of this like transferring your bank balance to a new bank altogether and getting to keep the account number. Really annoying.

There is pressure from the government to avoid Bitcoin, but that is it, just normal, everyday, pissed off government stuff, not the Nazi attack that you guys to portray.
 

Depending on the wallets being used, add the term "sweep" to your software vocabulary for crypto wallets.  It is under a different tab than "import" in some case and may say "sweep addresses" or keys of even wallets.  This is just another term for basically the same thing, but it implies that the Bitcoin data is from a totally unrelated piece of software and is easier to please. 

 this information was useful

so what? they will never ever know that I am using cryptocurrencies because I will never ever talk about the cryptos in front of any government people or those have the authority to make this stupid law. Damn. Crypto will always exist on this beautiful planet and no way it can be fucked up by the government

Wow. hope it won't happen.

Is there a crypto lobbyist?  Andreas M. Antonopoulos help?

I guess if United make new laws that would make all illegal crypto then the American Government was looking for a reason to grab your purse, then it's because you've done something quite which one to get there. This rule is not created so that the police can go up and down the street and randomly asked someone for a glimpse of the crypto wallet. then when they find You they can always find something to put you in jail that's why they make 1000s of regulations, then it is reasonable only if the United State's much better put a be of good ;)

Hay Congressmen and Senators make 1000's of regulations every year agains those "free" americans so if someone is against me I can put him in jail and if someone has something I want I can take it for them based on those regulations. I'm sick of these American's thinking they can have their freedom. And by the way I'm tired of these crypto bitcoin nuts i need you to put them in Gitmo (use the Freedom act).

Americas also banned cocaine and MDMA but every kid on each street corner is selling. Imagine them trying to "Ban" cryptocurrencies. HA

How the fuck would they even begin to try to enforce this law?...

What a joke haha

It is not like did you say,we dont have FACTA,ACTA in Europe,whatever to say about Europe there s very strong citzenship movement,if you are from USA i can tell you Europe is continent not country,sorry there are some people in USA what think Europe is some country.To do anything in EU all 28EU contries have to agree,no way here

My thought exactly. It's not like you're crossing the border with with a bag full of cash.

These politicians are not only computer illiterate but also incredibly stupid.  ;D

Not surprise with this one since, many banks are not in favor with crypto. But i believe one day this will be revised since crypto is good help to the society.

trying to ban something that's decentralized and community driven is like trying to ban the sun from coming out... US lawmakers gone crazy :-\

I think there is nothing wrong with the regulation in your link, i read the comments in that video too and i think there is no problem as long we not exchange more than around 10.000$, especially for foreign visitors. The government just want to play safe, avoid money laundring that's very trending , that's it, but in the end every criminals smarter and one step ahead them, and again this is crypto, it's almost impossible to trace every transaction.

How will they make it Illegal . the US Government Taxed Cryptocurrency.
i think they are not satisfy about how much they earn from crypto tax.
maybe because of the Fast Changes at the Price of the each Crypto and
can't Estimate the Right Tax for it. 

It’s only a proposal. USA is one of the top countries where Bitcoin is accepted. I am pretty sure that they won’t go for it.

Can't see this happening at all with Bitcoin being a major cryptocurrency which is already being used in most of the parts in the United States. With the number of altcoins and ICOs making it to the top of the market caps, its pretty clear that the government wants a grip on all of these and they're just trying to push for it. Hopefully this doesn't happen because it would a very bad move and restricting cryptocurrency usage in an already crypto-treaded world seems like it will just make people go around the loop and still use it.

Well write to your congressman about it.

And take heart that during the Trump presidency, pretty much NOTHING will get through Congress, meaning people will be saved by inertia.

Totally agree people should stop panicking as if you take closer look what is  happening in Congress then I have no worry about anything passing thru ;)

Hope they can't approve this stupid nonsense

these all lame... government wants to hand the crypto world because these aint no tax... now they seeing it a Billion dollar income and they cant touch even a single penny... they want to control and give by-laws on crypto so they also get a profit on it... how sad is this....

Thats true during Trump presidency, congress dont have so much power. I think we shouldn`t be worry about those things, because they won`t happen in the near future.

"the land of the free"
How dare they even say that about themselves  ::)

It is getting more difficult to be a crypto user...

You can use Bitcoin Cash, it is still legal. ;D

They say it's on novel and films. not in real life.