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Author Topic: 2013-05-29 Sovereign Man: US Treasury denies it is trying to torpedo Bitcoin  (Read 654 times)
BTCLuke
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June 17, 2013, 06:19:12 PM
Last edit: June 17, 2013, 08:17:47 PM by BTCLuke
 #1

Awesome piece on SovereignMan today.

http://www.sovereignman.com/trends/us-treasury-denies-it-is-trying-to-torpedo-bitcoin-12056

Highlights:


Quote
In remarks given late last week to the curiously named United States Institute for Peace, the head of the Treasury’s Financial Crimes Enforcement Network (FinCEN) vociferously denied any attempts at regulating digital currency… specifically Bitcoin.

Quote
It’s clear that Bitcoin is smack dab on the US government’s radar, despite the digital currency’s tiny market size. But it’s also clear that they don’t understand Bitcoin at all.

They claim, for example, that a digital currency is a ‘financial service’, as if Bitcoin is some sort of mutual fund or home equity line of credit.

Quote
In this short 4-page speech, the Director twice made a connection between Bitcoin and (you guessed it) terrorism. Twice more connected Bitcoin to those who would exploit children. And four times linked digital currency to ‘criminals’ in general.

It’s certainly enough to scare most people away.

And, even though they cannot control Bitcoin, FinCEN is obviously laying the foundation to regulate every business that touches Bitcoin, from exchange houses to swap websites to digital wallet providers.

Luke Parker
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June 17, 2013, 06:53:16 PM
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Sovereign Man has a big audience.
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June 17, 2013, 08:05:07 PM
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2013-5-29 should be 2013-05-29.

BTCLuke
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June 17, 2013, 08:18:32 PM
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Sovereign Man has a big audience.
Yup, and that's 2 weeks in a row he's mentioned bitcoin. Sweet.

2013-5-29 should be 2013-05-29.
Corrected.

Luke Parker
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June 17, 2013, 11:55:48 PM
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Just hit ZeroHedge

good judgment comes from experience, and experience comes from bad judgment
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June 18, 2013, 02:33:53 AM
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In this short 4-page speech, the Director twice made a connection between Bitcoin and (you guessed it) terrorism. Twice more connected Bitcoin to those who would exploit children. And four times linked digital currency to ‘criminals’ in general.

Them's fightin' words.

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