L0la L33tz's avatar
L0la L33tz L0laL33tz@cashu.me 11 months ago
Yesterday's first Digital Assets Subcommittee hearing has us down bad for privacy, my guys. As stated by former CFTC Chair Timothy Massad, self-custodial wallets are the reason we are seeing digital assets used for sanctions evasion, money laundering and Hamas financing, with other witnesses piling on the lack of KYC. Going purely on vibes, it seems plausible that we may see Congress attempt to rewrite IEEPA and US Code to apply KYC/AML/CFT requirements to self-custodial wallets and decentralized services as suggested by the Fifth Circuit's Tornado Cash sanctions reversal as well as Financial Action Task Force virtual asset guidance. S/o to the retards calling this administration the "Bitcoin President" Full Story:
The Rage
First Digital Asset Hearing: Self-Custodial Wallets Are Hamas
At the first Digital Assets Subcommittee hearing, terrorist financing, KYC requirements and sanctions compliance loomed over possible stablecoin re...

Replies (26)

lontivero's avatar
lontivero _@lontivero.github.io 11 months ago
They want their weapon to control, block, seize and sanction. Criminalizing collaborative transactions came first, self-custody comes next.
L0la L33tz's avatar L0la L33tz
Yesterday's first Digital Assets Subcommittee hearing has us down bad for privacy, my guys. As stated by former CFTC Chair Timothy Massad, self-custodial wallets are the reason we are seeing digital assets used for sanctions evasion, money laundering and Hamas financing, with other witnesses piling on the lack of KYC. Going purely on vibes, it seems plausible that we may see Congress attempt to rewrite IEEPA and US Code to apply KYC/AML/CFT requirements to self-custodial wallets and decentralized services as suggested by the Fifth Circuit's Tornado Cash sanctions reversal as well as Financial Action Task Force virtual asset guidance. S/o to the retards calling this administration the "Bitcoin President" Full Story:
The Rage
First Digital Asset Hearing: Self-Custodial Wallets Are Hamas
At the first Digital Assets Subcommittee hearing, terrorist financing, KYC requirements and sanctions compliance loomed over possible stablecoin re...
View quoted note →
Schroedinger's avatar
Schroedinger Schroedinger@nostrcheck.me 11 months ago
They will not stop this madness until bitcoin is mainly an investment vehicle. And I fear most bitcoin holders will comply because NGU is more important than anything else. Long gone are the cypherpunk days of bitcoin.
Default avatar
npub1z8gy...t495 11 months ago
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1 replies ↓
Liberty Farmer's avatar
Liberty Farmer the_liberty_farmer@nostrcheck.me 11 months ago
You have to hope the president vetos it....
L0la L33tz's avatar L0la L33tz
Yesterday's first Digital Assets Subcommittee hearing has us down bad for privacy, my guys. As stated by former CFTC Chair Timothy Massad, self-custodial wallets are the reason we are seeing digital assets used for sanctions evasion, money laundering and Hamas financing, with other witnesses piling on the lack of KYC. Going purely on vibes, it seems plausible that we may see Congress attempt to rewrite IEEPA and US Code to apply KYC/AML/CFT requirements to self-custodial wallets and decentralized services as suggested by the Fifth Circuit's Tornado Cash sanctions reversal as well as Financial Action Task Force virtual asset guidance. S/o to the retards calling this administration the "Bitcoin President" Full Story:
The Rage
First Digital Asset Hearing: Self-Custodial Wallets Are Hamas
At the first Digital Assets Subcommittee hearing, terrorist financing, KYC requirements and sanctions compliance loomed over possible stablecoin re...
View quoted note →
🇵🇸 whoever loves Digit's avatar
🇵🇸 whoever loves Digit 11 months ago
Can't believe this analogy is dumb enough to keep circulating You definitely cannot explain how discussing money online is like using a urinal
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