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Thread: US moves to criminalize non-disclosure of virtual currency ownership

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    Sardonic Observer Jewboo's Avatar
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    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/

    it's over kids
    truth is chased from many villages

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    Bitcoin Miner Ares's Avatar
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    Re: US moves to criminalize non-disclosure of virtual currency ownership

    Quote Originally Posted by Jewboo View Post
    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/

    it's over kids
    Lol sure it is.

    I wish em luck :-)
    "Paper is poverty, it is only the ghost of money, and not money itself." --Thomas Jefferson to Edward Carrington, 1788
    "The greatest threat to the state is when the people figure out they can exist without them." - Twisted Titan
    "Some Libertarians are born, the government makes the rest."
    "Voting is nothing more than a slaves suggestion box, voting on a new master every few years does not make you free."

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    Iridium Hitch's Avatar
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    Re: US moves to criminalize non-disclosure of virtual currency ownership

    Quote Originally Posted by Ares View Post
    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.

    life is good.

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    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.

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    Re: US moves to criminalize non-disclosure of virtual currency ownership

    Bitcoin is The Mark

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    Re: US moves to criminalize non-disclosure of virtual currency ownership

    considering a bill to outlaw the concealment of ownership of digital currency accounts by American citizens domestically and abroad
    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.
    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.

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    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 View Post
    Bitcoin is The Mark
    If you're offended by any of my posts tough shit!
    "Politicians Are Like Diapers, They Should Be Changed Often, And For The Same Reason"
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    Re: US moves to criminalize non-disclosure of virtual currency ownership

    Quote Originally Posted by Half Sense View Post
    Bitcoin is The Mark

    truth is chased from many villages

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    Re: US moves to criminalize non-disclosure of virtual currency ownership

    Quote Originally Posted by Ares View Post
    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


    © 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/

    good luck!
    truth is chased from many villages

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    Bitcoin Miner Ares's Avatar
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    Re: US moves to criminalize non-disclosure of virtual currency ownership

    Quote Originally Posted by Jewboo View Post
    Traders at top bitcoin exchange claim they have no access to their money

    Published time: 6 Dec, 2017 13:06
    Get short URL


    © 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/

    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.
    "Paper is poverty, it is only the ghost of money, and not money itself." --Thomas Jefferson to Edward Carrington, 1788
    "The greatest threat to the state is when the people figure out they can exist without them." - Twisted Titan
    "Some Libertarians are born, the government makes the rest."
    "Voting is nothing more than a slaves suggestion box, voting on a new master every few years does not make you free."

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