The House of Representatives is voting on the 27th to require that the recipient of Bitcoin (and other cryptocurrencies) report the social security number, sender’s name, birth date, address and profession for total amounts >$10,000 from one entity (i.e. Binance, CoinBase, PayPal, etc.). Failure to do this would be a FELONY! This is a de facto ban of cryptocurrencies in the United States, unless they are processed through big tech.

https://www.nasdaq.com/articles/the-proposal-to-regulate-digital-asset-transactions-should-be-struck-2021-09-15

Contact your US House representative and tell them to vote against this "infrastructure bill".

Here are the rest of the horrible provisions in this bill that also ban crypto mining and software development.

This bill keeps getting worse and worse for the crypto industry, because no one is making any noise...

Read detailed explanation in this reddit post (thanks dkbit98):
https://www.reddit.com/r/CryptoCurrency/comments/pqm1ba/new_us_crypto_regulation_far_more_invasive_than/

This is a very weak move from congress that could easily be bypassed by the thing they are trying to prohibit with this law: Money Laundering. Since this bill only applies to transactions that exceed the $10,000 threshold per OP's post. This means people could just launder the transfer even more making this law even harder to impose. Sometimes the efforts won't count especially if a lot of money will be used to mobilize this if it ever getsthe chance to be passed as a full-fledged law.
What transpired during their court discussion last 2018 with Mark Zuckerberg is enough evidence that the guys some of us had allowed to be on the Senate don't know jackshit about anything regarding the internet. Even the simple process of logging into an account seemed so complex that they can't wrap their measly brains around. How can we trust these people to impose such a bold move and effectively execute it?

crypto companies will move out of US if they continue to grip.
social security number sent to some is danger. these men didnt think of what this could do. surely this will not be approved. the government is having a hard time coming up with solutions because obviously they don't control BTC.

Unfortunately, I could not really sense that there is a united and solid voice of crypto holders, enthusiasts and supporters in the USA. I am suggesting that there should be more coherence in fighting and standing to this attempt to make the USA another police state and now controlling Bitcoin as if taxing is not enough. I am hoping this bill will not be approved as is. This is already an intrusion into people's freedom and privacy.

Privacy concern of course, but this is probably aimed at trying to target money launderers or tax evaders. Now that USD is failing miserably with high inflation rates, they want to target those that are relying on Bitcoin to protect their wealth, or day to day users as a currency. US politicians couldn't spell bitcoin so expect them to vote on whatever would stagnate crypto growth so they can milk it for every ounce of revenue possible.

I am not surprised by this. They want to control Bitcoin in the same way they control banking transactions, whether they can is another thing.


Don't be surprised if they lower it to $600, as they want to do with bank transactions:

The IRS would know more about our bank accounts with new legislation.

What's strange to me is that these two pieces of news came out at the same time and have the $10k threshold for Bitcoin.

There were speculations about how the Biden government is going to be more friendly towards the cryptocurrencies like bitcoins and we do see that now, that it's not going to happen. This is stripping the freedom away from people, exact opposite of what the US might portray itself to be.


They do worse in the papers but they do know how to keep up the appearances therefore at the end of the day all this political drama is only bad for the people living there and also the people it would affect in the long term.

- people have to protest / safe protest with regards to covid
- voice their opinions
- make sure they involve political leaders who are + for Bitcoins and other cryptocurrencies

Might be hard to do but I do believe it can be done. Hopefully the government will consider for real what they are doing.
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I don't think no one believes that BS anymore, probably the brainwashed and ignorant people are still believing that stuff, George Carlin has predicted this a long time ago, that the government is going to go after the social security.

There are lots of ways to de-anonymize someone who is using bitcoin. It you use any centralized exchange, even without completing KYC, then you should assume they will report your email address, IP address, and other identifying information to the government. If you pay anyone using a centralized payment processor such as BitPay, then they will also report the same information along with details of any transactions you make. Perhaps you gave out your real name and address as part of buying some goods online, and that bitcoin address can now be linked to your and then linked in turn to other addresses which you use. Perhaps you used your email address to sign up for a gambling site. Perhaps you left a bitcoin address somewhere on your social media profiles. Perhaps you shared a bitcoin address via a non-encrypted email provider. Perhaps you used a web wallet. The list is endless.

The US government also spend a lot of money hiring services such as Coinbase Analytics, CipherTrace, and Chainalysis, whose sole purpose is to use blockchain analysis combined with data obtained from other sources including exchange reporting, social media, database leaks, etc., to deanonymize users and addresses.

Yes USA, we already know from day 1 your bankers want to ban crypto around the world... For now they are successful on forcing global trading to be held in $ so they can collect their taxes. You can bend the laws to ban crypto trading in US, but sooner or later swallowed by China and EU if you dont start accepting cryptocurrency.