Senate trying to regulate Crypto

SENATE BILL 1241 OF 115TH CONGRESS
“Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017.”
congress.gov/bill/115th-congress/senate-bill/1241/text#toc-idea0e9489fc8f46379f95bb56c8bbbda5
HOW WILL THIS AFFECT DIGITAL CURRENCIES.

Section 13: PREPAID ACCESS DEVICES, DIGITAL CURRENCIES, OR OTHER SIMILAR INSTRUMENTS
>(a) IN GENERAL - Section 5312(a) of title 31, United States Code, is amended-
That code here:
>law.cornell.edu/uscode/text/31/5312
This code basically defines financial agencies and financial instutitions
>(1) in paragraph (2)(K)—
DEFINES ISSUERS OF CHECKS AND MONEY ORDERS, ETC... AS FINANCIAL INSTUTITIONS
>(A) by inserting “prepaid access devices, digital currency,” after “money orders,”;
THIS MEANS ISSUERS OF CRYPTOCURRENCIES ARE FINANCIAL INSTUTUTIONS
If you want to issue a cryptocurrency you are now a financial instutution. ALL ICO's ARE NOW FINANCIAL INSTITUTIONS!!
>and (B) by inserting before the semicolon at the end the following: “, or any digital exchanger or tumbler of digital currency”;
EXCHANGES ARE NOW FINANCIAL INSTUTUTIONS. Coinbase, Bittrex, Gemeni, etc are all financial instutitions
Tumblers are also financial institutions

(1/2)

Other urls found in this thread:

house.gov/representatives/
senate.gov/senators/contact/
reddit.com/r/Bitcoin/comments/6hafuh/senate_bill_aims_to_regulate_cryptocurrencies/
reddit.com/r/CryptoCurrency/comments/6haij9/senate_bill_aims_to_regulate_cryptocurrencies/
reddit.com/r/Bitcoin/comments/6h6luq/proposed_us_bill_would_require_declaration_of/
reddit.com/r/btc/comments/6haktr/senate_bill_will_regulate_cryptocurrencies/
reddit.com/r/CryptoCurrency/comments/6hafvt/senate_trying_to_regulate_crypto/
twitter.com/NSFWRedditGif

All ICO's, tumblers, and exchanges are going to be governed by the same rules as banks and brokers.
Cryptocurrency in America is now under the governance of the SEC

>(1) detailing a strategy to interdict and detect prepaid access devices, digital currencies, or other similar instruments, at border crossings and other ports of entry for the United States; and
>(2) that includes an assessment of infrastructure needed to carry out the strategy detailed in paragraph (1).
They are trying to come up with a way to track crypto under the guise of stopping laundering at the border

Call and Email the congressmen from your districts and your senators.
>house.gov/representatives/
>senate.gov/senators/contact/
Posting on Veeky Forums will do nothing, your representatives need to know that we see what they are doing and will not vote for them if this gets passed.
Spread this as far as you can. Tell friends and family about this and get as many people as you can to contact their reps and senators. If they get enough calls and emails we can have an actual impact on this bill getting through.

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This fucking kike bitch, fuck I don't think a more slimy piece of inhuman trash exists

Of course this bitch would be a senator from San Francisco (California) where everyone in tech is getting rich. Fucking bitch.

So is it a currency or still property with this interpretation? Fucking capital asset taxes.

It's sponsored by a Republican, this bill is bipartisan. Both sides want to destroy your freedom.

It doesn't target cryptocurrencies themselves. It targets the exchanges, tumblers, and ico issuers.

Coinbase will be a financial institution

Waves wallet will be a financial institution(we already found out they aren't decentralized)

The people writing this bill probably don't understand how cryptocurrencies work and think about some electronic central bank issuer

> IRS trying to tax it like an asset
> Congress trying to regulate it like a currency

wtf

>regulate

*suppress

Hate to say it, but its probably best you post this on reddit, they will actually take action.

Veeky Forums would just troll her twitter account and order pizzas to her house. And thats all fine and dandy, but this is serious shit.

first she wanted my guns

now she wants my crypto

REEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE

Don't have a reddit, can somebody copy and paste my shit and post it to r/bitcoin or something

It's sponsored by 4 Senators --

Chuck Grassley R-IA
John Cornyn R-TX
Dianne Feinstein D-CA
Sheldon Whitehouse D-RI

I live in TX and will be voting against Cornyn in the Republican primaries when he's up for reelection.

>both sides want to destroy your freedom
It's sad that only cryptofags, Nazis, and lolbertarians get this. The normies will continue to be played like fiddles

I have a question. Why did BTC just start going down today when this bill was introduced on May 25th, 2.5 weeks ago? Why are we just hearing about this now?

I know that baka I hate jews but I hate their neocon slaves too

Ted Cruz is on the judiciary committee maybe he can help stop this

Soo how do you expect this to affect my cryptogains as a non-american?

Move to Nevada. It will be the only place where your crypto gains are safe. Its currently on agenda and will be passed shortly. Remember lots of crypto from Asia being cashed out for gambling monies:)

Yeah done

Just posted this to reddit

reddit.com/r/Bitcoin/comments/6hafuh/senate_bill_aims_to_regulate_cryptocurrencies/

Link?
Please come upvote these so more people see them

it got rekt

> Feinstein

I've tried to not become an antisemite but whenever I see a new congressional push from someone with a jewish last name I know I'm about to get... jewed.

I hope so, this seems like something Cruz would oppose.

I endorse this post

posted in r/bitcoin and r/cryptocurrencies

what you mean?

[removed]
wow its fucking nothing

It's still up for me
links please

hahahahahaha. You really think Cruz has any scruples other than just whatever gets him more power?

And hey - I am not picking on Cruz, this stands for pretty much everyone

>TFW I supported Aleppo all along
Hopefully this will cause a Paultard resurgence and Veeky Forums to return to it's libertarian roots

She's just a cosponsor though, it was sponsored and introduced by a Republican Senator, Chuck Grassley from Iowa.

see:

oops - meant to referencenot

does anyone know how reddit works? Why isn't my post on the new page of r/bitcoin?

I'm fairly new in crypto, can someone tell me what would be the repercusions of this BEING REALISTIC? Just more taxes or are we talking about being unable to trade in crypto currency?

Opposing this will give him the opportunity to go on more long-winded rants against expanding government regulation and power which seems to appease his voter-base.

probably because its a new account, anyone got an old reddit account?

(((moderated)))

wtf why would they remove that

what the fuck...... That's some bullshit

All that little chatter about regulation and no one mentioned the actual bill, mhmm.

Grassley's a never Trumper though, he's not getting shit passed either.

reddit.com/r/CryptoCurrency/comments/6haij9/senate_bill_aims_to_regulate_cryptocurrencies/

another one i posted... Is this one removed too?

this is why I fucking hate reddit

I just found an old reddit account, gonna try and post again

It's still there, no replies yet though.

>copying the Veeky Forums part at the end
oh shit nigger what are you doing

shit... good catch

It's already been on the front page of r/bitcoin for 10 hours.

reddit.com/r/Bitcoin/comments/6h6luq/proposed_us_bill_would_require_declaration_of/

And Cornyn is the Majority Whip, so he actually has a lot of clout.

Way overdue. Im sick and tired of the alt right cancer

/r/bitcoin is censored, repost on /r/btc

So I think places like coinbase and bittrex are already operating mostly within the rules..

Coinbase has basically set itself up to operate as a bank, just one that allows you to use any of 4 (for now) currencies. There will probably just be more reporting requirement for them, but they already do id verification. Maybe just a longer process with more forms? and of course more fees.

Bittrex has set themselves up to operate like a forex or online brokerage (think schwab). I dont recall them being as detailed with id verification, but also dont really remember. They will probably be required to improve their rporting and id verification, as well as provide more information on the risks of trading.

Both will probably need to add a pop-up or something that says "know before you send" which is already typical for overseas transfers via Western Union. I am not as sure about things like google wallet, tho, which will also come under this.

The thing is Google Wallet already has tons of identity info on you and anyone you send to, although it could, potentially be fraudulent.

The whole crypto system is set up for privacy, tho.

Anyhow - you will still be able to send person to person without hindrance - like from mist wallet. Its just using the systems.

You posted on the wrong one, post it on the one backed by chink money. r/btc

>altright likes cuckservatives
kek

Guys Dennis Rodman knows about crypto now because of potcoin and he's friends with Trump. Let's meme Rodman into awareness of this bill and get him to contact Trump about this mess.

Has this been mentioned on bitcointalk.org? reddit is a lost cause might as well forget about that place.

remember this when they try and shill uasf on you.

>Our best hope lies in a nigger that likes to wear wedding dresses and dye his hair rainbow colors
welp we're fucked

christ those comments are retarded
>"This is hilarious ..."

why do redditors never want to discuss something seriously without being a piece of shit know it all? it's like a more PG version of trying to hold a conversation with someone on /g/

reddit.com/r/btc/comments/6haktr/senate_bill_will_regulate_cryptocurrencies/

Made with an old account

>reddit.com/r/Bitcoin/comments/6hafuh/senate_bill_aims_to_regulate_cryptocurrencies/

reddit.com/r/CryptoCurrency/comments/6hafvt/senate_trying_to_regulate_crypto/

removed from r/butcoin for no apparent reason

>reddit.com/r/btc/comments/6haktr/senate_bill_will_regulate_cryptocurrencies/

>reddit.com/r/Bitcoin/comments/6hafuh/senate_bill_aims_to_regulate_cryptocurrencies/

>reddit.com/r/CryptoCurrency/comments/6haij9/senate_bill_aims_to_regulate_cryptocurrencies/

Upvote these to the front please. Anyone else have reddit links?

Hows that swampdraining going you fucking tool

what would happen if the 99% just finally snapped and killed the 1%?

would that make a difference, you think?

Lol, bitcointalk is silenced by thymos as well as /r/bitcoin. Try bitcoin.com forum.

Trump's a cuck who loves niggers and kikes

Wrong (heavily censored) sub. Needs to go on r/crypticurrencies

Post on The_Donald, can mention how bitcoin cucks the federal reserve and Mulvaney is pro-bitcoin.

FUCKING HYPOCRITICAL KIKE GODDAMN IT

" In 2003, Feinstein was ranked the fifth-wealthiest senator, with an estimated net worth of US$26 million.[53] By 2005 her net worth had increased to between US$43 million and US$99 million.[5]" HOW'D SHE MAKE THAT $$$$

And cancerous fucks would rather waste their time making "nigger coins".

I hope the population of this planet reduces down to 500million; with 0% jews-- whatever it takes.

>nigger coin gets taken off of exchange
20 threads about waves not being decentralized
>congress making an actual bill to regulate crypto
nobody cares

really tinkers my thinker

Wait, if I mined the block, I issued the currency, right? So I'm a financial institution now? So I get some of that sweet sweet bailout money?

Thanks sir.

a lot. it will in the short crash the price. in the long term, other countries will look to do the same.

Grassley is a RINO. he constantly votes democrat and only supports the really noncontroversial republican causes.

The other Republican co-sponsor, John Cornyn, is the Senate Majority Whip -- the 2nd highest ranking Republican in the senate.

Good government need a piece of the action.

They need to know what you have that is taxable.