Senate Bill 1241 defines digital currencies as “monetary instruments” and digital exchanges/tumblers as “financial institutions” for purposes of enforcing anti-money laundering laws. If successful, the “Combating Money Laundering, Terrorist Financing and Counterfeiting Act” would inflict unhappy consequences on bitcoin freedom. [Note: for a section-by-section analysis of the bill, please click here. Section 13 deals directly with cryptocurrencies. The other sections become relevant only because 13 makes bitcoin fall under their purview.]
https://news.bitcoin.com/prepare-for-sb1241s-pit-bull-assault-on-bitcoin-freedom/
So what does this mean for the future of Bitcoin and Cryptocurrencies?
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I don't see a problem with this. I think it helps to build the trust network and weed out "bad" or ponzi schemes and gives them an outlet to prosecute for fraud. If they can find them that is...
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i think it will be alright
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Yes, everyone get into the train cars... it will be alright.
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