Good for the Biden administration. Unregulated crypto is useful for money laundering and ransomware. We cannot have a shadow financial system that’s not subject to securities laws and IRS rules. Crypto shouldn't be exempt from the law because people think it's cool.
https://twitter.com/evan_greer/status/1423347990819913729
If crypto is subject to know your customer rules, securities law, and taxes, fine. Go ahead and have fun. Otherwise, it's just about creating a zone of lawlessness.
Basically civil libertarians opposed the Bank Secrecy Act in the 1970s because they thought the right to engage in money laundering in Switzerland is a human right. Sorry but no. Financial surveillance is a core part of what it means to have a state.
This piece on behalf of crypto and financial anonymity by EFF is completely bonkers. Being in a society means you don't get to hide your money from the tax man. eff.org/deeplinks/2021…
"victimless crime"
https://twitter.com/CathyReisenwitz/status/1423375210179293185
There’s mixed messaging in the crypto world. ‘No one in the crypto community objects to regulating crypto’ conflicts with ‘The Bank Secrecy Act is tyranny.’
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