US moves to criminalize non-disclosure of virtual currency ownership
US moves to criminalize non-disclosure of virtual currency ownership
The US Senate is reportedly considering a bill to outlaw the concealment of ownership of digital currency accounts by American citizens domestically and abroad.
The Senate Judiciary Committee says existing anti-money laundering (AML) laws need to be modernized.
The bill will amend the definition of ‘financial account’ and ‘financial institution’ to include cryptocurrencies and digital exchanges.
Experts warn that if the law is passed, it will likely have far-reaching effects for digital currencies’ users both in the US and abroad.
“It’s bad… I think it’s going to end in a very confrontational way between bitcoin—even bitcoin holders and users—and the US Government,” said Tone Vays, the head of research at BraveNewCoin and a 10-year Wall Street veteran.
https://www.rt.com/business/411869-u...nership-rules/
:rolleyes: it's over kids
Re: US moves to criminalize non-disclosure of virtual currency ownership
Quote:
Originally Posted by
Jewboo
US moves to criminalize non-disclosure of virtual currency ownership
The US Senate is reportedly considering a bill to outlaw the concealment of ownership of digital currency accounts by American citizens domestically and abroad.
The Senate Judiciary Committee says existing anti-money laundering (AML) laws need to be modernized.
The bill will amend the definition of ‘financial account’ and ‘financial institution’ to include cryptocurrencies and digital exchanges.
Experts warn that if the law is passed, it will likely have far-reaching effects for digital currencies’ users both in the US and abroad.
“It’s bad… I think it’s going to end in a very confrontational way between bitcoin—even bitcoin holders and users—and the US Government,” said Tone Vays, the head of research at BraveNewCoin and a 10-year Wall Street veteran.
https://www.rt.com/business/411869-u...nership-rules/
:rolleyes:
it's over kids
Lol sure it is.
I wish em luck :-)
Re: US moves to criminalize non-disclosure of virtual currency ownership
Quote:
Originally Posted by
Ares
I wish em luck :-)
I think what you mean is good luck. .Gov has a very particular set of skills, skills acquired over a lifetime, that make them a nightmare for people like you. :)
https://www.youtube.com/watch?v=wcjY-VN8_l4
Re: US moves to criminalize non-disclosure of virtual currency ownership
Now instead of the need for Russians to plant their child porn on your machine, alls they'll need to do is slip a bitcoin into your usb and you're up the creek like Al Capone.
Ares told us all that bitcoin were super valuable... He neglected to mention who it were most valuable to.
Re: US moves to criminalize non-disclosure of virtual currency ownership
Re: US moves to criminalize non-disclosure of virtual currency ownership
Quote:
considering a bill to outlaw the concealment of ownership of digital currency accounts by American citizens domestically and abroad
Quote:
CONCEALMENT, contracts. The unlawful suppression of any fact or circumstance, by one of the parties to a contract, from the other, which in justice ought to be made known.
Quote:
OWNERSHIP, title to property. The right by which a thing belongs to some one in particular, to the exclusion of all other persons. Louis. Code, art. 480.
While concealing is associated with fraud the charge is easy to dismiss. Simply make public that which you would be accused of concealing.
On the topic of ownership if you actually had ownership then congress has no interest in writing any bill that is based upon your ownership. The word 'owner' excludes anyone in any capacity real or imagined that might claim superior ownership.
Re: US moves to criminalize non-disclosure of virtual currency ownership
Yeah, they said that about the debit and credit card too.
Quote:
Originally Posted by
Half Sense
Bitcoin is The Mark
Re: US moves to criminalize non-disclosure of virtual currency ownership
Quote:
Originally Posted by
Half Sense
Bitcoin is The Mark
http://imgur.com/3PBRAqX.jpg
Re: US moves to criminalize non-disclosure of virtual currency ownership
Quote:
Originally Posted by
Ares
Lol sure it is.
I wish em luck :-)
Traders at top bitcoin exchange claim they have no access to their money
Published time: 6 Dec, 2017 13:06
Get short URL
https://cdni.rt.com/files/2017.12/ar...81208b4567.jpg
© Jaap Arriens / Global Look Press
Another question about the safety of cryptocurrency transactions was raised this Wednesday. Clients of a major Las Vegas bitcoin exchange Bittrex say they can’t withdraw their money and the company doesn’t explain why. The clients of Bittrex, which processes about $1 billion of cryptocurrency payments per day, are angry about the delays, Business Insider reports. They claim to have verification problems but get close to no feedback from Bittrex about the situation.
The company admitted to "significant delays" in handling the issues, but said they affected only "a small percentage of our overall user base."
New identification procedures are being implemented to comply with the US anti-fraud banking regulations. One of Bittrex users, who asked the media to call him only by his middle name, commented on the problem. “Bittrex has two levels of verification. Basic Verification, which I completed, but it said it could not find any public record to match what I entered. Then [it] gives you the option to submit what they call Enhanced Verification where you have to submit Gov ID, Passport, Selfie, etc. I, in turn, did this, but that one also failed, saying 'Name Mismatch Error.' To top it off, they do not provide any settings page to correctly make the name change if [there] truly is a name mismatch,” he said.
“The next step is for you to submit a support ticket, which I then completed. My support ticket was opened on November 6 with not a single response from anyone at Bitrrex. This is going on for almost 30 days now. I updated the ticket many times to no avail," he added.
Another user complained that when he made the deposit, no verification was required. “Support doesn't work at all, I don't sleep at night because of that, when I put money there nobody asked about verification! And now my money is blocked," he said.
https://www.rt.com/business/412109-b...e-money-stuck/
:rolleyes: good luck!
Re: US moves to criminalize non-disclosure of virtual currency ownership
Quote:
Originally Posted by
Jewboo
Traders at top bitcoin exchange claim they have no access to their money
Published time: 6 Dec, 2017 13:06
Get short URL
https://cdni.rt.com/files/2017.12/ar...81208b4567.jpg
© Jaap Arriens / Global Look Press
Another question about the safety of cryptocurrency transactions was raised this Wednesday. Clients of a major Las Vegas bitcoin exchange Bittrex say they can’t withdraw their money and the company doesn’t explain why. The clients of Bittrex, which processes about $1 billion of cryptocurrency payments per day, are angry about the delays, Business Insider reports. They claim to have verification problems but get close to no feedback from Bittrex about the situation.
The company admitted to "significant delays" in handling the issues, but said they affected only "a small percentage of our overall user base."
New identification procedures are being implemented to comply with the US anti-fraud banking regulations. One of Bittrex users, who asked the media to call him only by his middle name, commented on the problem. “Bittrex has two levels of verification. Basic Verification, which I completed, but it said it could not find any public record to match what I entered. Then [it] gives you the option to submit what they call Enhanced Verification where you have to submit Gov ID, Passport, Selfie, etc. I, in turn, did this, but that one also failed, saying 'Name Mismatch Error.' To top it off, they do not provide any settings page to correctly make the name change if [there] truly is a name mismatch,” he said.
“The next step is for you to submit a support ticket, which I then completed. My support ticket was opened on November 6 with not a single response from anyone at Bitrrex. This is going on for almost 30 days now. I updated the ticket many times to no avail," he added.
Another user complained that when he made the deposit, no verification was required. “Support doesn't work at all, I don't sleep at night because of that, when I put money there nobody asked about verification! And now my money is blocked," he said.
https://www.rt.com/business/412109-b...e-money-stuck/
:rolleyes:
good luck!
Centralized Exchanges are and will forever always be the Achilles heel of Crypto currencies. It's why I like the Waves platform with it's Decentralized Exchange. Once a major player implodes I expect to see decentralized exchanges start to take off.
