Super Testnet's avatar
Super Testnet 3 months ago
This is the language the Executive branch supposedly wants to use in its ban on bitcoin privacy tech. The middle one would ban using a program to "manage...the structure of a transaction." Wouldn't that ban any software that creates any tx? Wouldn't that ban *everything*? image

Replies (16)

Syd 💎's avatar
Syd 💎 3 months ago
This would basically render self sovereign bitcoin illegal but hey, at least we’d have the Strategic Bitcoin Reserve! 😠
1 replies ↓
jgbtc's avatar
jgbtc jgettbtc@jgett.com 3 months ago
Anything they come up with will end up being some attempt to ban bitcoin because bitcoin makes it so easy to circumvent whatever stupid barriers they try to put in place. And fortunately there's no subtle, innocuous rule the can make that isn't obviously a de-facto ban that will instantly trigger a defense reaction by bitcoiners.
waxwing's avatar
waxwing 3 months ago
My favorite one is the last one. Waiting to have a cup of tea before sending your payment? Straight to jail.
1 replies ↓
Super Testnet's avatar
Super Testnet 3 months ago
Feds: "You're going to jail." Wallets: "But we didn't do anything!" Feds: "We have video of your users delaying their transactions." Wallets: "That's *their* fault! *They* delayed their transactions!" Feds: "You *let* them. You're under arrest."
2 replies ↓
waxwing's avatar
waxwing 3 months ago
😆 ... Or, you create a timelocked transaction to pass money to your heirs. Developer who included the nlocktime field in the GUI ... straight to jail.
1 replies ↓
Super Testnet's avatar
Super Testnet 3 months ago
it would also render custodial bitcoin illegal as well as any software that sends bitcoin anywhere, including into the strategic bitcoin reserve every wallet manages the structure of its transactions you cannot create a transaction without the thing they want to prohibit
Cykros's avatar
Cykros psyche_eros@iris.to 3 months ago
One of these days everyone's going to realize that the way to develop FOSS is anonymously (or at least pseudonymously). Satoshi taught us this in 2008. Seems a bit odd the only developer's projects I can think of that seem to have followed this suggestion are Calle's...
SatsAndSports's avatar
SatsAndSports 3 months ago
This isn't Reddit 😀, we should link to things instead of just providing screenshots to farm rage
Stacker News
US Government To Bring PATRIOT Act to Digital Assets \ stacker news ~bitcoin
As such, the rule would deem the following software and behaviors a primary money laundering concern, meaning that such transactions would end up b...
 which itself links to
The Rage
US Government To Bring PATRIOT Act to Digital Assets
FinCEN Director reveals that the Treasury is finalizing a ban on privacy tools, Representatives revive Special Measures to Fight Modern Threats Act
 Through my own searching, I found something official which might be relevant: https://www.fincen.gov/system/files/federal_register_notices/2023-10-19/FinCEN_311MixingNPRM_FINAL.pdf
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