I agree with your comments @mericanhomestead. While very interesting - this bill seems implausible in practice. I don't understand how they will be able to find out how much money you have on any debit card (nevermind crypto specific ones) or in a wallet unless you tell them. This bill looks like it was written by idiots who are clueless about technology.
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Yes, idiots they are. They are going to have a tough time stopping it but that has never stopped them before.
...how's the war on drugs working out?
i'd say the war on drugs is working well for the gov - that was their intention to create more problem to be able to provide more solution and make some money at the same time, but i digress. While i agree that they are idiots, they are idiots with very big guns and a lot of psychological control over your fellow citizens. so that is an issue when people are incentivized to rat on each other. this is coming.