Topic: 2013-06-13 Latest from FinCEN - page 7. (Read 7020 times)
Did you guys even read it? This is a positive sign.
overall very positive.
they just want to regulate the exchanges.
users/miners unaffected.
they just want to regulate the exchanges.
users/miners unaffected.
from the cover page...
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UNITED STATES INSTITUTE OF PEACE
Sounds like 1984 all over again.Bunch of war mongers and chicken hawks at that there Peace Institute:
http://www.usip.org/aboutus/board.html
So when it says, "Those who are intermediaries in the transfer of virtual currencies from one person to
another person, or to another location, are money transmitters that must register with FinCEN as
MSBs, unless an exception applies" does this apply to miners? If so they are most definitely trying to kill bitcoin as the network security would be destroyed by such a regulation on miners.
another person, or to another location, are money transmitters that must register with FinCEN as
MSBs, unless an exception applies" does this apply to miners? If so they are most definitely trying to kill bitcoin as the network security would be destroyed by such a regulation on miners.
from the cover page...
Quote
UNITED STATES INSTITUTE OF PEACE
Sounds like 1984 all over again. 
Disgusting as usual.
These apparatchiks are using the well-being of children as an argument to legitimize the immoral use force of against innocent businesses and people who cannot afford millions to engage in legal Bitcoin businesses.
These apparatchiks are using the well-being of children as an argument to legitimize the immoral use force of against innocent businesses and people who cannot afford millions to engage in legal Bitcoin businesses.
.. Clearly FinCen is not trying to kill bitcoin. ...
Don't give them undue credit. They couldn't kill Bitcoin if they wanted to (and they know it). Bitcoin is global.
The whole thing seems to be about identifying the difference in their perspective on something like Liberty Reserve versus Bitcoin, and how they see the opportunities Bitcoin can bring. Hopefully they mean that, but the last paragraph is what I found most interesting:
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However, I would like to close with a challenge to our great innovators: extend your focus to devising creative solutions for preventing the abuse of virtual currencies by criminals, such as those who would exploit children. We all stand to benefit from such innovation, and the related transparency and integrity to our financial system.
Sorry FinCEN that's no more possible than doing so with how criminals use cash. Cash can be used anonymously too, and dollars are probably responsible for financing most of the world's criminal activity as the world's reserve currency. But people are not to blame the dollar for how some people use it, no more than people are to blame guns for the crimes committed with them. These are only tools.
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However, equally important is the need to ensure integrity and transparency.
I didn't know that Fincen also dabbled in comedy.
Wow, that was super interesting and positive. Clearly FinCen is not trying to kill bitcoin. Hell, they seem almost fond of the idea. 
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