This maybe something to look into. USA based, App use only, easy to sign up.
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Interested to see what this would mean for us…
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so now they wanna know where the Cryptocurrency are going, wasn’t Cryptocurrency meant to be Anonymous?
My sentiments exactly. So I’m curious on what they regulations on the matter will be. But with BTC how would they track that? Maybe a stable coin or something. Very curious though
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My opinion its just another way to stop people from having access to offshore brokers! USA is not a free county its a highly restrictive country now!
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Americans are already being treated like lepers due to excessive rules and regulatory compliance requirements. Adding more rules will only make this problem worse. I have said it before, but will say it again, such efforts will not stop real criminals from committing crimes, but you can bet money that such efforts will severely limit investment opportunities, strip away privacy and become a burden for honest people.
Mnuchin also said that he and Federal Reserve Chairman Jerome Powell do not think the U.S. needs to consider central-bank issued digital currency, though it’s something they could consider again “down the road.”
Yeeeeaaah riiiiiight… that’s exactly what we need.
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methos they use the words money laundering and criminal activities to get thru the door but it’s all about the average joe moving money around that they can’t track
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The US Gov likely views crypto becoming more mainstream with broader usage as a fundamental long term threat to…
- USD as the worlds reserve currency
- Federal reserve policy (less effective if a significant % of monetary transactions within US are non USD)
- The IRS/US treasury (they claim very few are currenty paying taxes on crypto gains)
- The FBI & CIA (it’s not impossible, but much harder to track illegal activity funded via crypto outside the global banking system)
- The US banking system (they make billions from wire fees & currency conversion spreads on international payments that take several days to complete)
- US foreign policy (could reduce US ability to put financial pressure on non cooperative regimes by keeping them out of global banking system)
- US markets & exchanges (if it wasn’t for crypto, offshore brokers as an option for US citizens would have been on life support by now)
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Not really. Since there’s always been a public ledger, anyone can track where the money is flowing. That’s how they took down Ross Ulbricht.
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they took Ross Ulbricht. by tracking his dark web, the feds believe over 500 mill are held in cold storage wallets that they can’t get to
EDIT: Bitcoin is a cryptocurrency; while all bitcoin transactions are recorded in a log, the blockchain, users who avoid linking their identities to their online “wallets” can conduct transactions with considerable anonymity.
They took him down by tracking the public ledger to his wallet on his laptop.
If anyone still believes that bitcoin is magically anonymous internet money, the US government just offered what may be the clearest demonstration yet that it’s not. A former federal agent has shown in a courtroom that he traced hundreds of thousands of bitcoins from the Silk Road anonymous marketplace for drugs directly to the personal computer of Ross Ulbricht, the 30-year-old accused of running that contraband bazaar.
In fact, Berkeley computer science researcher Nicholas Weaver had already shown that he was able to follow more than 29,000 bitcoins from the Silk Road to Ulbricht’s laptop based only on publicly available information. The prosecution, with access to Ulbricht’s hard drive, had far more success. Nearly 500,000 bitcoins of the 700,253 bitcoins were transferred from September to November 2012, explaining their relatively low total exchange rate.1
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either way it’s all bad i just hope our offshore brokers hold up and don’t get scared and kick us out
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It really is a bullshit experience for US residents. The current US marketplace is crippled so much compared to other countries. No ICO participation allowed, etc. Lame as all f*%k.
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If you are not carefully covering your tracks, then there are a number of ways for law enforcement to track your online activity and eventually tie you to your wallet address. That being said, it is possible to remain anonymous, and it is certainly a lot easier to do so compared to fiat.
But let’s be honest, most people are not looking to do that. Most people are not looking to break any laws and are only interested in a simple, fast, cheap and secure method for transfer/payment/storage that offers some privacy and will allow them to take control of their own money in lieu of having banks and other groups decide what they can/cannot do with it, while getting hit with fees and other charges that are created and imposed for any reason, at any time etc…
Regarding Ulbricht, it is my understanding that law enforcement conducted illegal search and seizure, so that may not be the best example in this case.
Regarding ICO’s, I was able to invest in some, early-on, but more and more ICO’s eventually started rejecting US participants, outright. I even invested in some ICO’s that later told me, after-the-fact, that I was not eligible, and sometimes had to jump through hoops in order to get my initial investment back.
I am part of an investment pool and those of us that are Americans have magically transformed into Canadians overnight. No harm, no foul. Certainly easier to do before everyone started implementing sophisticated KYC methods that utilized mobile camera devices for identification verification purposes. It is ridiculous that we would even have to stoop to such levels just so that we can invest our own, hard-earned money how we see fit.
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Regulations can have both effects. Well crafted laws will do more of the former and less of the latter.
Law enforcement has an important job to do and high speed transactions do make aspects of that job much more difficult. It’s going to have to be a balancing act. There are many regulations on the books that have stopped real criminals. I am talking about bad hombres here bro. You are mistaken if you think all regulations are useless.
Did I ever say that? When you consider the nature of cryptocurrency and the capabilities that it presents, you must maintain a pragmatic view regarding the effectiveness and true intent behind any regulatory or legislative efforts. Anyone not doing so is being naive, including uneducated lawmakers persuaded by lobbyists with self-serving agendas.
Of course well-crafted laws are helpful and can deter criminals.
It amazes me how some people think. Maybe ‘amazes’ is a poor choice.
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A paraphrase based on this and your previous comments… on KYC, for example.
If I misread you, then thank you for clarifying. You are, of course, the ultimate authority for what you meant.
You provide some valuable content here. It’s appreciated.
Your photoshop analysis was very helpful in particular.
This is a public forum. It is widely read.
I would like our grievances against current regulations to be outlined clearly and accurately.
That’s my intent.
I’m actually holding out some hope that the trading situation in the US will improve.
I do not think downplayng the legitimate part of the other side of the argument when it comes to KYC and regulation helps our case.
Yes, my reading of your posts is that you downplay the benefit of some of the regulatory practices.
We risk being written off as anarchists, which most of us are not.
People think differently than one another. They also disagree sometimes.
You are perfectly entitled to your opinion and I will challenge it or anyone else’s.
It is amazing. Get used to it, buddy. 
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Indeed. But better to not make assumptions and to ask for clarification first.
Believing that more harm may come than good, does not equate to downplaying the benefit or legitimacy of some of the proposed regulatory efforts and legislation. But it is very important that we understand as much as possible, and question what we do not…this is especially true for lawmakers.
Admittedly, I have certain ideas about taxation and privacy relating to cryptocurrency, both of which are extremely relative, that may not necessarily conform with the views and ideas of the majority, but I have realistic expectations and possess common sense and I choose to abide by the law and will continue to do so.
While I am hopeful that such regulatory policies and proper legislation will help to deter criminals and further-legitimize cryptocurrency globally, I am also skeptical that many of the suggestions that are being made may adversely impact more honest people in the long-term, while having little-to-no impact on criminals that choose to circumvent the law.
Does that mean that such efforts are moot and/or should be dismissed? Not at all. But I feel that we may be at a critical point in history, and it is extremely important for everyone to be vigilant and to make careful considerations going forward. We should not be too quick to apply old thinking to new ideas, nor should we trust that our best interests will be equally-regarded.
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I really love EagleFx and CryptoFx’s same day withdrawal, first $25 withdrawal in 2 hr. It’s amazing. Thanks to SmallPaul:+1:
I can do it everyday:grin:
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