@pawel7777. This is certainly what everyone in the cryptospace should be expecting. They do not want the cryptospace to compete with the moneylaundering operations of their backers from the banking sector hehehe.
I would begin to be more skeptical if the Biden administration began a more supportive attitude on bitcoin and the cryptospace.
Also, more stricter legislations should also be expected under Biden. I speculate that everything will be banned in time and with only a few whitelisted projects and services allowed to continue.
Sen. Elizabeth Warren, D-Mass., said she plans to reintroduce legislation with Sen. Roger Marshall, R-Kan., that would extend anti-money laundering laws to a broad array of the cryptocurrency ecosystem. That would include digital asset wallet providers, miners, validators and other blockchain network participants.
The original version of the bill she and Marshall introduced last December also would have prohibited banks and other financial institutions from transactions with digital asset mixers, which are meant to mask transactions made on public blockchains.
If introduced in the same form as last December, the bill would also extend anti-money laundering reporting requirements to include U.S. persons who transact in $10,000 or more in digital assets using an offshore account and require the Treasury Department to do anti-money laundering compliance examinations for money service businesses, the registration that large U.S. crypto companies fall under.
Source https://www.theblock.co/post/211783/warren-pledges-to-reintroduce-crypto-anti-money-laundering-bill
Topic: Operation Chokepoint 2.0 (Biden's administration quitet ban on crypto) - page 3. (Read 423 times)
February 14, 2023, 10:36:20 PM
February 14, 2023, 07:22:26 PM
If they won't unbank Coinbase and Binance, Bitcoin will be fine. If they do, the price will instantly plummet, adoption will either slow down significantly or turn negative. But it seems like the chance of them doing the latter are very low, since this is a very unofficial rumored crackdown on smaller businesses rather than a total ban on crypto.
They should. It will help decentralized exchanges
February 14, 2023, 06:27:52 PM
If they won't unbank Coinbase and Binance, Bitcoin will be fine. If they do, the price will instantly plummet, adoption will either slow down significantly or turn negative. But it seems like the chance of them doing the latter are very low, since this is a very unofficial rumored crackdown on smaller businesses rather than a total ban on crypto.
February 14, 2023, 05:39:38 PM
Banks will be more in favor to this because they will benefit on this, luckily crypto businesses are not centered in America, meaning if they will push this through many investors will be forced to do business outside US which can be more open to other countries as a good development.
Hard to know if the current administration is secretly doing this, and with the current movement of SEC, we might see the pattern on this. Well, Bitcoin is being attacked since then so this is not new anymore. Fortunately Bitcoin is made by this, and still able to rise despite of all the pressure on every country.
Hard to know if the current administration is secretly doing this, and with the current movement of SEC, we might see the pattern on this. Well, Bitcoin is being attacked since then so this is not new anymore. Fortunately Bitcoin is made by this, and still able to rise despite of all the pressure on every country.
February 14, 2023, 05:37:10 PM
Fast forward 10 years: Biden's administration (who was a vice president under Obama for those who don't know) is trying to do the same to the crypto sector. This is nicely explained by Nic Carter in this article:
https://www.piratewires.com/p/crypto-choke-point
It's obvious that US administration started fighting on all fronts with everything that has any connection with fiat and crypto, that includes banks with their cards, all p2p platforms (several shut down recently), and centralized exchanges are under pressure for some time.https://www.piratewires.com/p/crypto-choke-point
To me it's clear why they are doing this, they are working hard to remove cash from all countries (it already started in Nigeria), and introduce their shitty CBDC projects as poor replacement everywhere.
They can't do that fully until they control Bitcoin to fiat money flow as much as they can, but they also tried banning torrents for years and look at their poor results with that example.
February 14, 2023, 05:25:05 PM
I don't find it surprising at all. No, I think Biden has chosen the perfect time to quietly pull the rug out from under the feet of the crypto community. The crypto market has been in continuous decline since the ftx platform crisis, which contributed to the decline in Americans' confidence in this market in general.
The second point is related to the banks willingness to obey these procedures, because by doing so they will lose an important part of the income from withdrawals and deposits through trading platforms.
The second point is related to the banks willingness to obey these procedures, because by doing so they will lose an important part of the income from withdrawals and deposits through trading platforms.
February 14, 2023, 05:00:31 PM
Around 2013 Obama's administration launched the original, controversial operation Chokepoint when many businesses, despite operating fully legally, started losing access to banking services forcing many of them to shut down. That crackdown was not conducted by any formal, voted-for legislation, but was done indirectly by putting pressure on banks to cease support for specific types of businesses.
You can read about that in this 2014 thread: https://bitcointalksearch.org/topic/operation-chokepoint-soft-fascism-another-example-bitcoin-needs-to-remain-p2p-616603
Fast forward 10 years: Biden's administration (who was a vice president under Obama for those who don't know) is trying to do the same to the crypto sector. This is nicely explained by Nic Carter in this article:
https://www.piratewires.com/p/crypto-choke-point
Or this video:
https://www.youtube.com/watch?v=tV1jp4FrKlU
Also mentioned by Forbes: https://www.forbes.com/sites/billybambrough/2023/02/09/us-accused-of-trying-to-quietly-ban-bitcoin-ethereum-and-crypto/
You can read about that in this 2014 thread: https://bitcointalksearch.org/topic/operation-chokepoint-soft-fascism-another-example-bitcoin-needs-to-remain-p2p-616603
Fast forward 10 years: Biden's administration (who was a vice president under Obama for those who don't know) is trying to do the same to the crypto sector. This is nicely explained by Nic Carter in this article:
https://www.piratewires.com/p/crypto-choke-point
Or this video:
https://www.youtube.com/watch?v=tV1jp4FrKlU
Also mentioned by Forbes: https://www.forbes.com/sites/billybambrough/2023/02/09/us-accused-of-trying-to-quietly-ban-bitcoin-ethereum-and-crypto/
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