Following the recent ransomware fiasco and multiple traders from a variety of U.S. states arrested for bitcoin related money laundering charges two senators have introduced a new bill to regulate these activities. The legislation submitted last week aims to classify bitcoin as a monetary instrument in the 2017 ‘Money Laundering, Terrorist Financing, and Counterfeiting Act.’
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Regulate, tax it, control it -- have to watch their words. If they do -- the world will pass them by. maybe they will get rid of the US dollar since that is used in so many crimes worldwide.
Hopefully, all fiat currencies will be passed by.
we have a front row seat....pass the popcorn :-)
Here is comes, folks, once the government starts getting involved you can guarantee something irritating is about to happen.
Exactly, the governments always want to stay in control of things.
If the USA does not take a dominate position in CryptoCurrency's then they can expect an devaluation of their own currency. The USA should encourage crypto development. "Smart States" like Maryland-home to Hopkins ZCASH, Connecticut, and Coinbase's North Carolina will emerge as financial powerhouses. It seems strange that alleged 'liberal' senators are so against crypto: how else can they finance their own salaries and projects with our our enslavement to 'them'.
With a conservative leadership right now, it is very possible that the US will miss the chance to take leadership in blockchain tech...
Fair point but Feinstein is DEM and Silicon Valley loves Crypto Start ups. It's definitely a bi-partisan deep state which does have many 'repubs' but not only 'repubs'.
No matter what happens, people will always find ways to work around laws and keep the government at bay.