Topic: [2017-11-20] U.S. CONGRESS WILL REGULATE BITCOIN (Read 3734 times)
Many authorities go to that to regulate, as though to bitkoin these problems were not. As soon as he began to have great value, that's when it all started. We will regulate they said, up to one place they regulate, they just want to select dengi from the people, hiding behind different problems
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U.S congress is backing AMLBitcoin ICO to help the terrorists residing in the white house to have more control over crypto currencies?
Great Comments Everyone.
Just to avoid some confusion, the Aml BitCoin team is not trying to push for legislation. Actually they spoke against banning digital currency which many governments want to do.
So what are some governments looking at when it comes to regulations?
Of course no government can stop people from using a cryptocurrency.
So just how can they regulate it?
They are actually smarter than we think they are.
From what I hear, the discussion is the regulation of the merchants who accept digital currency.
They are smarter? let them figure how to regulate it. I will help if they promise me to help me find a girl (whole body) to jump whenever I want, I will help to destroy this great decentralized revolution of money just for a girl ( again, whole body). simple lol would suffice.
#AMLBitcoin.
#Beggars are to hate.
#Universal symbol of laughing, lol or usol.
Great Comments Everyone.
Just to avoid some confusion, the Aml BitCoin team is not trying to push for legislation. Actually they spoke against banning digital currency which many governments want to do.
So what are some governments looking at when it comes to regulations?
Of course no government can stop people from using a cryptocurrency.
So just how can they regulate it?
They are actually smarter than we think they are.
From what I hear, the discussion is the regulation of the merchants who accept digital currency.
#AMLBitcoin.
#Beggars are to hate.
#Universal symbol of laughing, lol or usol.
Great Comments Everyone.
Just to avoid some confusion, the Aml BitCoin team is not trying to push for legislation. Actually they spoke against banning digital currency which many governments want to do.
So what are some governments looking at when it comes to regulations?
Of course no government can stop people from using a cryptocurrency.
So just how can they regulate it?
They are actually smarter than we think they are.
From what I hear, the discussion is the regulation of the merchants who accept digital currency.
It's already an expected movement, as U.S. government always regulate everything, especially financial and money exchanges. If they didn't regulate Bitcoin - many U.S. citizens will be more active investing their fiat money into Bitcoin.
We really can't blame government if they want to regulate bitcoin's use because of it being decentralized governments are not in the picture for every transaction and they really hate it if they don't have any control of a thing. I doubt that anyone would appreciate a centralized Crypto currency.
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Regulate the Exchanges, KYC is a big BS on regulating Bitcoin. Understand what Bitcoin is before you regulate it. Exchanges should be the one who should get the regulation to prevent IDENTITY THEFT and Money Laundering. I don't know if this news is real or just a BS FUD article to prevent the CME thing?. This will be another Drama for Bitcoin!? Just move it next year, everyone deserves a happy holiday and happy year end holiday.
I've been saying it again and again, you can't regulate cryptocurrencies. You can only regulate exchanges, but if you go too far, i.e. make it hard for them to operate, they will move to another country or to dark web. We all know the government controls fiat, but it doesn't control the Internet. You can block access to it like North Korea, but you can't disable it. There's no unified law in the world and thank the high powers for that!
Now, when we say regulate, we should not assume that it is bad for cryptocurrency because regulation can also mean recognition of that something they are trying to regulate. Rather than follow what China did, putting up regulation is much better.
Regulations are a necessity. I remember how people back in the days were shocked about the first ever crypto regulations, where they now more or less understand that it isn't necessarily a bad thing.It's impossible for any government to not act accordingly when it comes to something so immensely popular as crypto in its entirety. Important is to find a healthy and fair balance when it comes to regulations.
Where the previous ETFs were rejected due to Bitcoin's unregulated nature, this will very likely means an approval of ETFs and other financial products tied to Bitcoin, which is something I can only be happy about.
This market is moving forward in an insane manner, and now China is close to entirely gone from everything related to crypto, there are less obstacles on the road for us to worry about.
This is just another hype promoting AML Bitcoin. The issue of regulation has always been on the agenda of the government right from the very beginning. Right now, they probably have already the needed data and some ideas on how to do it. Now, when we say regulate, we should not assume that it is bad for cryptocurrency because regulation can also mean recognition of that something they are trying to regulate. Rather than follow what China did, putting up regulation is much better.
So this is another popularized media article or what? It would be great though to have a regulated cryptocurrency that would bring crypto to mainstream somehow, but I dont think that it will be america that goes first, it will more likely be russia or china (but if they will make it AML compliant, who knows)! Looking forward to the CryptoRubel!
Russia is doing the same. Do we guys on the stage of a new cold war between USA and Russia towards bitcoin in who is going to regulate it more effectively? 
Jokes on side.
Jokes on side.
Regulating bitcoin would be very hard to do. No one can stop someone from bringing 1 million dollars worth of bitcoin stored inside a USB if he goes inside US borders to fund local drug dealers. He also does not need to be holding the bitcoins, he could store them in a wallet and memorize the seed words.
But it will be fun to see them try.
Also read this.
but the Daily Caller report indicates that this is a serious effort where the creators of the coin are seeking Congress to pass legislation to protect from harassment from the Department of Treasury.
Are they trying to make it look like they have the upper hand? This is fake news at best.
I think it is not going to be so hard as you think. But I suppose the government will write some basic laws about crypto regulation, but every state will create something it's own, something like gun control in the USA. Soon all those regulations will become the reality and we will see what kind of effect they will have on us.But it will be fun to see them try.
Also read this.
but the Daily Caller report indicates that this is a serious effort where the creators of the coin are seeking Congress to pass legislation to protect from harassment from the Department of Treasury.
Are they trying to make it look like they have the upper hand? This is fake news at best.
Will regulation stop criminals from using cryptcoins? Will it stop ordinary people from moving them across borders, from Russia to the US? Will I break the law if I want to deposit some bitcoins in a sportsbook?
Regulating the cryptospace, in an attempt to control it will only make criminals out of us. But it will not stop the people from using it.
Although regulating cryptocurrencies is pretty much impossible, this news at least shows that the US government thinks of bitcoin as a legitimate currency. This is good news in my opinion.
It is rather difficult to regulate the Crypt currency, and most of the countries that will try to do this will face it. If state-imposed regulatory conditions are too stringent, users of the crypto currency will find ways to circumvent the restrictions. And there are a lot of such possibilities. I think states, including the US, will not achieve anything by strict restrictions. They need to learn from the experience of Japan, where these issues are solved quite wisely.
For the U.S. government this option would be unacceptable. Each government has its own understanding of bitcoin. They are afraid of this phenomenon. But most of all, bitcoin attacks the dollar and the global banking system which is based on the use of the dollar as the world reserve currency. What will happen to the US economy if all move to bitcoin. Americans will not allow it. 
It is rather difficult to regulate the Crypt currency, and most of the countries that will try to do this will face it. If state-imposed regulatory conditions are too stringent, users of the crypto currency will find ways to circumvent the restrictions. And there are a lot of such possibilities. I think states, including the US, will not achieve anything by strict restrictions. They need to learn from the experience of Japan, where these issues are solved quite wisely.
KYC regulations are important on a global scale to protect against not only money laundering, but also identity theft
Sooooo much horseshit. Bitcoin already protects against identity theft better than any KYC-compliant system ever will. How is every financial entity you do business with having a copy of your personal details (usually stored insecurely and ready for the thieving by any criminal with half a brain) going to protect against identity theft? KYC is the fucking cause of a significant proportion of identity theft. Some of it is still caused by people not shredding their financially sensitive documents before throwing them out. Some of it is people falling for phishing scams, or poor online security with keyloggers and the like. But KYC undeniably does more harm than good in terms of your personal details being stored and transmitted without your knowledge or consent. You lose any and all control over your own information.
No personal details tied to your transaction? No identity theft. They can fork a little KYC-compliant altcoin if they like, I wouldn't even touch it to dump it (and would suggest that none of you do either if you value your information being kept secure). Good luck getting anyone to use that shit.
Russia is doing the same. Do we guys on the stage of a new cold war between USA and Russia towards bitcoin in who is going to regulate it more effectively?
In principle, the basic computing power is now in China, so that the interaction model is viewed somewhat differently ;-) 
Russia is doing the same. Do we guys on the stage of a new cold war between USA and Russia towards bitcoin in who is going to regulate it more effectively?
Jokes on side.
Jokes on side.
Regulating bitcoin would be very hard to do. No one can stop someone from bringing 1 million dollars worth of bitcoin stored inside a USB if he goes inside US borders to fund local drug dealers. He also does not need to be holding the bitcoins, he could store them in a wallet and memorize the seed words.
But it will be fun to see them try.
Also read this.
but the Daily Caller report indicates that this is a serious effort where the creators of the coin are seeking Congress to pass legislation to protect from harassment from the Department of Treasury.
Are they trying to make it look like they have the upper hand? This is fake news at best.
I think it is not going to be so hard as you think. But I suppose the government will write some basic laws about crypto regulation, but every state will create something it's own, something like gun control in the USA. Soon all those regulations will become the reality and we will see what kind of effect they will have on us. But it will be fun to see them try.
Also read this.
but the Daily Caller report indicates that this is a serious effort where the creators of the coin are seeking Congress to pass legislation to protect from harassment from the Department of Treasury.
Are they trying to make it look like they have the upper hand? This is fake news at best.
I've put together a roundup of current ICO regulation efforts in the EU (Dutch, ESMA, DE) in my article published 15 Nov - as a means of comparison to Vtalik's White Paper on reforming ICO's by introducing market forces:
http://www.stuart-hall.com/2017/11/15/regulation-way-better-icos/
http://www.stuart-hall.com/2017/11/15/regulation-way-better-icos/
Regulating bitcoin would be very hard to do. No one can stop someone from bringing 1 million dollars worth of bitcoin stored inside a USB if he goes inside US borders to fund local drug dealers. He also does not need to be holding the bitcoins, he could store them in a wallet and memorize the seed words.
But it will be fun to see them try.
Also read this.
but the Daily Caller report indicates that this is a serious effort where the creators of the coin are seeking Congress to pass legislation to protect from harassment from the Department of Treasury.
Are they trying to make it look like they have the upper hand? This is fake news at best.
But it will be fun to see them try.
Also read this.
but the Daily Caller report indicates that this is a serious effort where the creators of the coin are seeking Congress to pass legislation to protect from harassment from the Department of Treasury.
Are they trying to make it look like they have the upper hand? This is fake news at best.
Articles like this are so biased.
According to Bloomberg:
Where is the outrage? AML Bitcoin is a joke.
According to Bloomberg:
Quote
Banks globally have paid $321 billion in fines since 2008 for an abundance of regulatory failings from money laundering to market manipulation and terrorist financing, according to data from Boston Consulting Group.
Where is the outrage? AML Bitcoin is a joke.
My body is ready for this, lets do this, if this is another fork of Bitcoin just let me get ready for begging. what do you call an ocean without water? that is what we call Bitcoin without AML, IG(I= injumpable, G= girls).
The Daily Caller reported over the weekend about “sources on the Hill told the D.C. said various members of Congress are looking at the compliant capabilities of AML Bitcoin, which is a compliant digital currency. Bitcoin is the most famous digital currency, or crypto-currency, and has skyrocket in value over the past few weeks.” A digital currency that is compliant with anti-money laundering laws would bring the digital currency for services and product transactions into the mainstream of American life.
The report indicates that this new AML Bitcoin currency would be compliant with various regulations and laws that prevent money laundering. The first would be something called “Know Your Customer (KYC) regulations and laws that guide a business into verifying the identity of clients. These regulations are tough to follow and costly, therefore there are many companies set up to help with compliance in these complicated regulatory matters. The cost of non-compliance is high and if a bank, or digital currency, is found to be in non-compliance they can face massive fines. And the problem is rampant in the financial sector.
On January 5, 2014, in a blog post on Thomson Reuters they reported that the KYC regulations are important on a global scale to protect against not only money laundering, but also identity theft and the financing of international terrorism. “According to the International Monetary Fund, incidents involving money laundering, compliance violations of KYC regulations, and other breaches are estimated to cost between two and five percent of the world’s gross domestic product.” The report cited a laundry list of regulation including anti-money laundering (AML), anti-bribery (ABC), tax transparency like FATCA, the Dodd-Frank law passed in the wake of the Wall Street meltdown in 2008, Markets in Financial Instruments Directive (MiFID) and European Market Infrastructure Regulations (EMIR). This alphabet soup of laws and regulations are difficult to comply with, yet the AML Bitcoin initiative will implement tough standards to stop the illegal use of these digital currencies as best as they can.
AML compliance is tough, yet beneficial to bring digital currencies out of the shadows. The idea of AML Bitcoin is brilliant. It has been tried on a smaller scale, but the Daily Caller report indicates that this is a serious effort where the creators of the coin are seeking Congress to pass legislation to protect from harassment from the Department of Treasury. The fact that they have got the attention of several members of Congress also shows that this effort is very likely to be successful.
The problems with digital currencies, also known as cryptocurrencies, has been well documented. Bitcoin has been used in human trafficking according to the New York Post. Bitcoin has been used to finance terrorism according to the Wall Street Journal. Fortune reported last month that a Russian based bitcoin site BTC-e was fined $110 million for money laundering. Although there have been numerous reports of the illicit use of digital currencies, they are booming right now and are viewed as the future preferred method to transfer value.
https://townhall.com/columnists/stevesherman/2017/08/23/aml-bitcoin-is-the-future-of-digital-currency-n2372303
www.amlbitcoin.com
www.amltoken.com
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