FinCEN is trying to bring the PATRIOT Act to cryptocurrency ‼️
We broke the proposal down in detail, answered all your questions, and laid out what it means for each of us.
A special thank you to nostr:npub1mznweuxrjm423au6gjtlaxmhmjthvv69ru72t335ugyxtygkv3as8q6mak for bringing some incredibly insightful comments!
Read here 👇
If you read anything at all today, make it this 👇
FinCEN's proposal is a massive governmental overreach and must be understood and fought by everyone who cares about financial freedom, but especially Bitcoiners.
I've written everything I think you need to know in one place for nostr:npub1wvvt5gvelcq4fc7f0dvaxq8e63zdvchmelzmv9wuyg76gqxgx4aq8w7rpf below 👇
This is terrible rule but you know what as part of the #bitcoin revolution I will continue to use #bitcoin regardless of what the new patriot act for crypto says in a non custodial way and running my own #bitcoin core node
"Ultimately, this is a further monumental leap in the U.S. governments attempts to prevent the usage of privacy tools in the cryptocurrency space. This crackdown, especially with the broad definitions imposed by FinCEN here, will kick-start the bifurcation of cryptocurrencies into two worlds — white-market and black-market money.
The cryptocurrency world will split into two separate economies, one that functions as an add-on to the traditional finance and compliance regime, and one that acts as an independent and self-sustaining circular economy."
The best tools are unable to comply by design
Whats the bullet points ?
