This is what the Bitcoin Foundation was supposed to do from the very beginning. It should be on the foreground in protecting bitcoin users from a government that desires to imprison them and to discourage its use. I hope they continue to take this progression.
In a letter [PDF] to the Senate Judiciary Committee, Llew Claasen, the foundation's executive director, expressed opposition to Section 13 of the "Combating Money Laundering, Terrorist Financing and Counterfeiting Act of 2017" (S 1241).
That portion of the proposed law – introduced in May by Senators Chuck Grassley (R‑IA), Dianne Feinstein (D‑CA), John Cornyn (R‑TX) and Sheldon Whitehouse (D‑RI) – would extend record keeping requirements, used to track money laundering, to "digital currencies."
Claasen contends that Bitcoin isn't really money, at least in the sense contemplated by the bill, and thus should not be treated as such. "Bitcoin lacks the characteristic of monetary instruments or financial products which S 1241's Section 13 attempts to regulate," he wrote.
Conflicting views among state and federal agencies on how digital currencies should be regulated, Claasen insists, mean additional research should be undertaken before Congress passes laws affecting Bitcoin and its ilk.Read the full article https://www.theregister.co.uk/2017/08/31/bitcoin_foundation_wants_doj_investigated/
