Cryptocurrency: US Lawfare, KYC/AML, Intentional Creeping Criminalization via Inflation Theft, WarOnCash, WarOnCrypto, Maxi Lies

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https://x.com/CryptoLawUS
https://x.com/JohnEDeaton1
https://x.com/JerryBrito
https://x.com/BTCPolicyOrg
https://x.com/CoinCenter
https://x.com/CryptoTaxGuyETH
https://x.com/Valkenburgh
https://x.com/NeerajKA
https://x.com/DigitalChamber
https://x.com/PerianneDC

@matthew_pines
Jan 4
In 1945, Treasury Secretary Morgenthau set a cash reporting threshold
of $10,000 to combat black marketeering during WW2. This threshold was
codified & broadened in the Bank Secrecy Act in 1972 & never changed.
W/ inflation, that $10K would equate to a ~$175K threshold today.

https://www.btcpolicy.org/articles/bpi-submits-comment-to-fincen-on-cvc-mixing-proposal-advocating-for-privacy-and-innovation

@BetterMarkets Kelleher files FUD and nonsense about Crypto.

India revokes largest denomination banknotes.

USA refuses to print larger than their worthless $100 banknote.

USA Executive Order 6102 being rewritten as draft for BTC confiscation.

Lebanon steals 90% of wealth.

UN, BIS, WEF, IMF plan Global CBDC rollout.

Banks and Police execute Civil Forfeiture against cash and property
without cause.

Govt Bank Corp cancel fianancial accounts of Major Politicians and
Dissent Voices.

FinCEN et al to ban coin mixing.

Those celebrating ETF issuers paying Core Devs will start to regret it
once they start pushing for an ESG/AML bitcoin fork.

Good people disobey bad laws.

Maxi's foolishly discard Game Theorists as Conspiracy Theorists,
even though they know that every Conspiracy Theory contains
elements of both Truth and Possibility. Be skeptical of the Maxi position,
especially when the future data on the wall is not leaning in their favor.


Bruce Fenton
@brucefenton
25 Jul 2023
It’s time to scrap AML / KYC entirely. The idea that politicians
should know how citizens spend their money is a new and deeply flawed
idea. An entire generation has been fooled into thinking this is a
necessary part of finance and the world continues to double down on an
unworkable system. Only 30 years ago when I started my career as a
stockbroker/ financial advisor I could call you on the phone and sell
you MSFT or IBM stock and I did not need your DOB or your social
security number. You didn’t even need to have money in the account.
The 1990s to the post 9-11 Patriot Act (which was a horrible law) saw
a radical increase in AML /KYC requirements. These seem to get worse
every year. In my office when we were first required to take a drivers
license, the older brokers were incredulous: “What do you mean we need
an ID for someone buying stocks?!? What’s next, you need an ID to buy
gas or groceries?” Now, just 25 years later an entire generation
thinks this is normal or how it should be. Worse yet, some think the
system won’t work without it. The opposite is true — the compliance
gums up the works and adds friction where it should not exist. While
the regulator class arrogantly acts as if AML KYC is their birthright
and ending it is some sort of untouchable rail, the justifications are
weak. Why do we have these regimes? To stop “money laundering”? What
is that? Who is the victim? Is it to stop “human trafficking” or
“terrorism”? If so, how? Is it to “stop” the 12,000 entities on the
OFAC list by messing with the 2,000,000,000 people not on the list?
Are major criminals somehow stopped by this? Has it stopped crime?
Even if it did, is it worth burdening millions of firms and billions
of people with paperwork and procedures that slow down commerce?
Shouldn’t efforts be made to go after the actual criminals rather than
encumbering the entire world with an inefficient compliance regime?
Money must be able to flow and move. People must be able to take risks
and make investments as they choose. This is the lifeblood of a solid
economy and the jobs, growth, prosperity and peace that comes with it.
The US (and by extension much of the world due to our influence) is
sacrificing jobs, innovation and opportunities by chasing an extremely
ineffective and indirect compliance regime. The entire idea belongs
back in the dumpster of history. Let the investigators chase
terrorists & human traffickers for those actual crimes and let the
other billions of us use and move our money as we wish.

Despite her call for stricter #crypto laws, Senator Warren remains
silent on the world's biggest crypto criminal. It's puzzling why she
isn't urging the government to vigorously enforce existing laws
against SBF.
Perianne
@PerianneDC
31 Dec 2023
. at SenWarren’s SILENCE on the gov not pursuing a second trial against
the biggest #crypto fraud in history is all you need to know about
Warren and her corrupt crusade against the industry.
to support the Keep Innovation in America Act.

Chamber of Digital Commerce
@DigitalChamber
Jan 5
You just sent $10,000 USD worth of #crypto. And 15 days later, you're
charged with a felony? Congress needs to fix this ASAP. We wrote a
letter proposing the critical need to consider H.R. 1414, the Keep
Innovation in America Act, which stops the law and studies the
implications.