New Bill Includes Cryptocurrency in the "$10k reporting rule"

http://americantodayreport.com/senate-bill-travelers-must-register-cash-digital-amounts-10k-face-10-years-prison-full-asset-seizure/

This is not good.


Comments


[13 Points] DooshNozzzle:

this really doesn't matter... at all... First of all it only applies to people who are flying.

About the cash part, you shouldn't travel with 10k in cash anyway, that's always been true. So nothing new there.

And as for bitcoin, how the fuck would anyone know whether you had 10k in bitcoin or not? People shouldn't be using the exchanges or any other method of bitcoin trading that can be tied to their ID anyway.

"It also requires the DHS to provide, within 18 months of ratification, a report on strategies to detect cryptocurrencies at border crossings, which might be difficult since there is no current technology that provides a direct solution for this."

Not only can they not prove I am in possession of bitcoins, they couldn't even seize them if they wanted to.

This bill can kiss my ass, it doesn't mean shit.


[1 Points] cr3d4:

I think the 10K things has always been there. Just now they want to try and track crypto as well.