Bitcoins to come under anti-money laundering reporting requirements

[fabrizeo]

Interesting article

A new bill was introduced on the floor of the US Senate titled “Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017“.

Aimed at people with digital and cryptocurrency holdings entering the US, the most noteworthy part of the bill is SEC. 13. titled “Prepaid access devices, digital currencies, or other similar instruments”.

The bill declares “prepaid access devices and digital currencies” such as Bitcoin and ethereum, two of the best-known cryptocurrencies as financial institutions.  Popular Bitcoin mixers such as BitBlender, Bitcoin Fog, and Helix Light will be treated as financial institutions, and hence be applied similar regulations as those applied on commercial and private banks.

https://anonymster.com/bitcoins-anti-money-laundering-reporting/

[Last of the V8s]

*dekulakization intensifies*

[fabrizeo]

*dekulakization intensifies*

Damn it we must fight against this bill !

[Last of the V8s]

*dekulakization intensifies*

Damn it we must fight against this bill !

Why waste our energies on the final flailings about of dying regimes?

Let them 'legislate' things if they want.

Meanwhile we study the protocol and (I) worry about the Transition.

[olushakes]

Interesting article

A new bill was introduced on the floor of the US Senate titled “Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017“.

Aimed at people with digital and cryptocurrency holdings entering the US, the most noteworthy part of the bill is SEC. 13. titled “Prepaid access devices, digital currencies, or other similar instruments”.

The bill declares “prepaid access devices and digital currencies” such as Bitcoin and ethereum, two of the best-known cryptocurrencies as financial institutions.  Popular Bitcoin mixers such as BitBlender, Bitcoin Fog, and Helix Light will be treated as financial institutions, and hence be applied similar regulations as those applied on commercial and private banks.

https://anonymster.com/bitcoins-anti-money-laundering-reporting/

Whether we like it or not it will get to this in as much as we are all rejoicing that countries are accepting bitcoin or rejoicing of any proposal of other countries coming in,  we should also be rejoicing over this too. What I see here is that the law is trying to reflect current times and no country can be too careful in this era of insecurities here and there. If it won't be a measure to witchunt the. I don't have anything against it.