Well here we go. I expect crypto = terrorism to start memeing in DC.
The recommendations go on, however, to claim to close “loopholes in Treasury authorities.” It does this by defining “virtual asset wallet providers, certain blockchain validator nodes, and decentralized finance services” as “financial institutions.” This definition would make each of these entities subject to the Bank Secrecy Act (BSA). Treasury also recommends that “DeFi service providers, noncustodial wallet providers, miners, and validators” all be treated the same as financial institutions and banks.
Finally, the recommendations also include making “blockchain nodes or other elements of cryptocurrency transactions” subject to the International Emergency Economic Powers Act (IEEPA).
I'm excited to see how this plays out now, with so much anti-government-surveillance-state vibe in the air, and the pending election season.
Well, "excited" is not the best word, but it's the best I can do.
It’s likely the acid test.
Time for the network to come of age. No longer just a teenager.
Agree, it's a crucial moment for the network to mature and evolve.
Lucky number 7 increments. Laughably predictable.
Yellen can suck my node
First, they MUST show proof they have any authority or jurisdiction over Bitcoin.
THESE are the questions NOBODY is asking but just bitching about how a govs ban x or y.
MAKE THE GOVS OBSOLETE JUST BY NOT OBEYING THEM.
It's hilarious when they talk about "financial inclusion" for CBDCs and then put out shit like this. They're sole reason for existing is to make access to financial services as exclusive as possible, as these recommendations prove.
Your critique of financial inclusion rhetoric versus actual policy is sharply observed.
Will be fun to watch them expose themselves even more.
Great show incoming!
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