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
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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Hudson Johnson
This fucking kike bitch, fuck I don't think a more slimy piece of inhuman trash exists
Jackson Barnes
Of course this bitch would be a senator from San Francisco (California) where everyone in tech is getting rich. Fucking bitch.
Cameron Hughes
So is it a currency or still property with this interpretation? Fucking capital asset taxes.
Owen Bennett
It's sponsored by a Republican, this bill is bipartisan. Both sides want to destroy your freedom.
Aiden Bell
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
Charles Miller
> IRS trying to tax it like an asset > Congress trying to regulate it like a currency
wtf
Robert Hill
>regulate
*suppress
William Rodriguez
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.
I live in TX and will be voting against Cornyn in the Republican primaries when he's up for reelection.
Cooper Cook
>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
Dominic Collins
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?
Juan Lopez
I know that baka I hate jews but I hate their neocon slaves too
Luke Sullivan
Ted Cruz is on the judiciary committee maybe he can help stop this
Brayden Robinson
Soo how do you expect this to affect my cryptogains as a non-american?
Isaac Cooper
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:)
Link? Please come upvote these so more people see them
John Kelly
it got rekt
Christopher Jenkins
> 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.
Isaac Thompson
I hope so, this seems like something Cruz would oppose.
Luis Powell
I endorse this post
John Martin
posted in r/bitcoin and r/cryptocurrencies
William Cook
what you mean?
Lucas Torres
[removed] wow its fucking nothing
Robert Davis
It's still up for me links please
Aiden Kelly
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
Ryder Morris
>TFW I supported Aleppo all along Hopefully this will cause a Paultard resurgence and Veeky Forums to return to it's libertarian roots
Henry Harris
She's just a cosponsor though, it was sponsored and introduced by a Republican Senator, Chuck Grassley from Iowa.
see:
Ryan Wood
oops - meant to referencenot
Mason Cooper
does anyone know how reddit works? Why isn't my post on the new page of r/bitcoin?
Gabriel Powell
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?
Lincoln Lewis
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.
Austin Myers
probably because its a new account, anyone got an old reddit account?
Juan Brooks
(((moderated)))
John Davis
wtf why would they remove that
Levi Clark
what the fuck...... That's some bullshit
Hudson Brown
All that little chatter about regulation and no one mentioned the actual bill, mhmm.
Samuel Lee
Grassley's a never Trumper though, he's not getting shit passed either.
And Cornyn is the Majority Whip, so he actually has a lot of clout.
Josiah Ortiz
Way overdue. Im sick and tired of the alt right cancer
Mason Lee
/r/bitcoin is censored, repost on /r/btc
Brody Stewart
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.
Sebastian Ward
You posted on the wrong one, post it on the one backed by chink money. r/btc
Isaiah Morgan
>altright likes cuckservatives kek
Andrew Price
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.
Benjamin Ward
Has this been mentioned on bitcointalk.org? reddit is a lost cause might as well forget about that place.
Sebastian Bell
remember this when they try and shill uasf on you.
Jayden Peterson
>Our best hope lies in a nigger that likes to wear wedding dresses and dye his hair rainbow colors welp we're fucked
Isaac Jones
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/
Upvote these to the front please. Anyone else have reddit links?
Anthony Perry
Hows that swampdraining going you fucking tool
Kevin Ward
what would happen if the 99% just finally snapped and killed the 1%?
would that make a difference, you think?
Kayden Rogers
Lol, bitcointalk is silenced by thymos as well as /r/bitcoin. Try bitcoin.com forum.
Ayden Gutierrez
Trump's a cuck who loves niggers and kikes
Ryder Cruz
Wrong (heavily censored) sub. Needs to go on r/crypticurrencies
Cooper Moore
Post on The_Donald, can mention how bitcoin cucks the federal reserve and Mulvaney is pro-bitcoin.
Juan Ortiz
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 $$$$
Asher Stewart
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.
Easton Garcia
>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
Nicholas Rivera
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?
Samuel White
Thanks sir.
Andrew Robinson
a lot. it will in the short crash the price. in the long term, other countries will look to do the same.
Thomas Cruz
Grassley is a RINO. he constantly votes democrat and only supports the really noncontroversial republican causes.
Carter Evans
The other Republican co-sponsor, John Cornyn, is the Senate Majority Whip -- the 2nd highest ranking Republican in the senate.
