When the Government Knocks at Your Door

[tokeweed]

Cryptocurrency businesspeople are a hearty bunch. They deal not only with the ordinary anxieties of running a startup, but also with a lack of clarity on a whole range of fundamental legal issues. (Remember when people were still asking whether bitcoin was even legal?)

One upshot of this is that a number of companies – including many who have tried hard to comply with applicable laws – have found themselves either receiving investigative subpoenas or subject to civil or criminal enforcement action.

The recent Ripple Labs fine, along with comments from FinCEN director Jennifer Shasky Calvery, suggest that this trend is on the upswing.

Since regulatory uncertainty is likely to persist for some time, here’s a primer on things to consider when the US government knocks at your door (either figuratively or literally).

http://www.coindesk.com/government-knocks-your-door-bitcoin/

[Hollowman338]

They won't knock, they'll kick it in while tossing flash bangs into your infant's crib and do a mag dump into your chest because "HE HAS A WEAPON!!!", which any normal person would acquire when their door crashes open unannounced at 3am

[SolidStateSurvivor]

Yeah, if you can take away people's sense of security and shake their comfort zone(s), just by writing such stuff in the media or publicly. You might scare them to do things they normally wouldn't. Or even control them. They seem to be very aware of this fact, in most places in the western world, today.

[OBAViJEST]

Guys, remember 9/11?  Don't you care about our god-given right called FREEDOM? Encryption is the total opposite of freedom.  It's basically terrorism. 

Why do you think the terrorists hate our freedom?  Because they're encrypting - that's how they got away with 9/11.  Now you want to play terrorist with your 'online money' when America already has perfectly good dollar bills backed by GOLD and blessed by the one and only Jesus Christ our lord and savior?  Pathetic.  What backs your "BITCOINS" besides ISIS AND AL QAEDA?


Next, on Bill O'reilly - rap music is to blame for the decline of Christianity

no seriously

[Undermood]

Ripple has plenty of government friends but the other companies are not so lucky, we won't be a seeing a governmental alliance against crypto anytime though and if anything America wants it to flourish here. Why you may ask, well because they don't want all the crypto advancements going to China or Russia, they want it to be in America with the jobs they create. Do you think the American government wants a future generation of Chinese nationals being experts at cryptography and the edge this would bring to the Chinese government?

Do you mean if the startups have relationship with the officials and they don't need to comply with the law? How do you come up with this theory about Chinese things?