The US government has a hidden weapon it could deploy against Bitcoin | Crypto Craft

  • The US government has a hidden weapon it could deploy against Bitcoin

    From technologyreview.com

    If you are interested in the future of cryptocurrency, you should probably get to know the Bank Secrecy Act, a nearly 50-year-old law that requires financial institutions in the US to help law enforcement agencies police money laundering. The government could someday try to use the law to impose strict controls on how—and whether—certain blockchain-based currencies can be used. Take it from David Murray, a vice president at the Financial Integrity Network, a consulting firm in Washington, DC, that focuses on illicit finance. In testimony this week before a Senate subcommittee, Murray called on the government to ... (full story)

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auricforecas
Sep 6, 2019 3:38pm
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No doubt... They could ban it overnight... But the question is if they would be courageous enough, because the crypto market is so large, so many people got stake in it that the "Genie" is out of the bottle... They might be too late. Cryptocurrency market is now 250B+ or 0.25T.... https://www.tradingview.com/markets/cryptocurrencies/global-charts/

Should the US government be able to ban it... they would admit they might became what they were fighting against...
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vanillaice
Sep 6, 2019 4:17pm
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Quoting auricforecas
No doubt... They could ban it overnight... But the question is if they would be courageous enough, because the crypto market is so large, so many people got stake in it that the "Genie" is out of the bottle... They might be too late. Cryptocurrency market is now 250B+ or 0.25T.... https://www.tradingview.com/markets/...global-charts/ Should the US government be able to ban it... they would admit they might became what they were fighting against...
Absolutely right! Because they could doesn't mean they should. If they did that, the Chinese have already taken over
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