This law has no effect on price, fucking read before commenting. It does nothing to legal holders and you would be required to declare what you own over $10,000 when crossing the boarder.
So people who don't travel much are safe?
this bill is crap, it mean nothing for crypto. example is ARK, if you have 12 words passphrase for ARK you can print it out or remember it then come in/out to the U.S with hundred of millions with just this passphrase. just saying, whole ARK itself is not 100million yet.
HINT; to regulate crypto more affective is to regulate exchange like coinbase where bitcoin/fiat or fiat/bitcoin flow but then almost everywhere and everyone now is taking bitcoin
Bottom line, the problem with crypto if you have a lot is not buying it, it is converting it into other assets. Most will not want to do this down dark alleys, but will use exchanges to convert, which will easily be regulated by the govt and therefore controlled.
Even now if you have a ton of coins then selling and converting into another asset is not simple and normally requires several steps assuming you are not selling BTC. Many places such as counbase have limits on selling and withdrawing. Yes, you can get them raised, but just more steps and again provides easy way for the govt to regulate.
As for declaring coins if the value is over $10k,sure you can delete wallets when crossing the border, but again for many this just adds more steps and complication. In addition, it adds fear and if you get caught they will take it all.
I don't think it will be hard for govt to regulate coins. They don't have to regulate the whole system just specific points along the chain. Coins that are designed to work around it will have a hard time getting listed on exchanges that are regulated. Sure there will always be the black market it exists now in other assets, but mom and pop are not going to use it.
