The Crypto Crypt

[Dachsie]

you can listen to an audio readiing of this article by going to its location.

The possible new Treasury secretary will be Janet Yellen.

https://www.wsj.com/articles/treasury-department-proposes-new-requirements-on-cryptocurrency-transactions-11608329785?mod=newsviewer_click


Some Cryptocurrency Trader Disclosure Required in Proposed Rules
Treasury Department seeks to hold users to standards followed by traditional financial institutions


The Treasury Department, under Secretary Steven Mnuchin, is proposing rules as bitcoin hovers near a record.
Photo: Jim Lo Scalzo/EPA-EFE/Shutterstock
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Updated Dec. 18, 2020 9:44 pm ET

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The Treasury Department unveiled a plan Friday to require some cryptocurrency traders to provide information about their identities in an effort to curb the anonymous transfer of assets by criminals using the new technology.

The proposed regulations, coming as the price of bitcoin hovers near a record high, seek to deliver on a longstanding goal of U.S. policy makers: to hold entities that transact in cryptocurrencies to the same standards required of traditional financial institutions.

The proposals would focus on a type of tool known as unhosted wallets, which allow the owner of a unique digital key to store cryptocurrencies, such as bitcoin and ethereum, and transact with others directly—without going through a financial institution. SNIP

[EE_]

you can listen to an audio readiing of this article by going to its location.

The possible new Treasury secretary will be Janet Yellen.

https://www.wsj.com/articles/treasury-department-proposes-new-requirements-on-cryptocurrency-transactions-11608329785?mod=newsviewer_click


Some Cryptocurrency Trader Disclosure Required in Proposed Rules
Treasury Department seeks to hold users to standards followed by traditional financial institutions


The Treasury Department, under Secretary Steven Mnuchin, is proposing rules as bitcoin hovers near a record.
Photo: Jim Lo Scalzo/EPA-EFE/Shutterstock
By
Updated Dec. 18, 2020 9:44 pm ET

Print

Text

This feature is powered by text-to-speech technology. Want to see it on more articles?
Give your feedback below or email audiofeedback@wsj.com.

The Treasury Department unveiled a plan Friday to require some cryptocurrency traders to provide information about their identities in an effort to curb the anonymous transfer of assets by criminals using the new technology.

The proposed regulations, coming as the price of bitcoin hovers near a record high, seek to deliver on a longstanding goal of U.S. policy makers: to hold entities that transact in cryptocurrencies to the same standards required of traditional financial institutions.

The proposals would focus on a type of tool known as unhosted wallets, which allow the owner of a unique digital key to store cryptocurrencies, such as bitcoin and ethereum, and transact with others directly—without going through a financial institution. SNIP

Silly people didn't really think the government was going to allow terrorists and drug dealers to move money around anonymously, indefinitely, now did they?
The NWOcoin is not far away.

[Shami-Amourae]

They will try but the cat's out of the bag.

This barely phased the Bitcoin price.

It's barely enforceable. I can still have a KYC (Know Your Customer) wallet as my front to deal with exchanges, and pass stuff from my private wallets to it. Most exchanges already block US customers since of how infested our government is with Boomers.

This is basically the same as Boomers saying they want backdoors into all encryption. They don't understand how technology works.


I told you people to get into Bitcoin @$4 in 2011 and most of you ridiculed me. You still ridicule me. Get over your stubbornness and get into Crypto before you're priced out.
I already told you MULTIPLE times to BUY BITCOIN the past few months and the price DOUBLED.

[sirgonzo420]

They will try but the cat's out of the bag.

This barely phased the Bitcoin price.

It's barely enforceable. I can still have a KYC (Know Your Customer) wallet as my front to deal with exchanges, and pass stuff from my private wallets to it. Most exchanges already block US customers since of how infested our government is with Boomers.

This is basically the same as Boomers saying they want backdoors into all encryption. They don't understand how technology works.


I told you people to get into Bitcoin @$4 in 2011 and most of you ridiculed me. You still ridicule me. Get over your stubbornness and get into Crypto before you're priced out.
I already told you MULTIPLE times to BUY BITCOIN the past few months and the price DOUBLED.

What do you mean, "you people"? ;)

[keehah]

What do you mean, "you people"? ;)

Welcome back sir!


I'm not trying to insult people here since I know this is a precious metals forum. Max Keiser himself thinks this is a great thing to invest with alongside Silver to destroy the banksters, and that's enough to interest me. Just sharing the info, since I think its something that should be looked into

...I'd like to point out at I purchased these BitCoins @$6.80 per BitCoin. Last time I looked at the price a week ago, it was $3.60, so this should give you some perspective how fast the price is rising. As I post this message, a half a day after my purchase, BitCoins are @$8.02 (so I could sell now for a 18%+ profit) , so this shows you the relative volatility of the market, but the general trend is upwards.

Good call Shami!