New Crypto Rules Coming Soon in the USA

blue_knight

blue_knight

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“We're about to roll out some significant new requirements at FinCEN," he said during the hearing, though he offered no specifics on the timing of the move.

“We want to make sure that technology moves forward, but on the other hand, we want to make sure that cryptocurrencies aren't used for the equivalent of old Swiss secret number bank accounts,” he added. “We want to make sure that technology moves forward, but on the other hand, we want to make sure that cryptocurrencies aren't used for the equivalent of old Swiss secret number bank accounts,” he added.
The full article is here.
 
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This is going to be a spectacle. I don't suppose they understand that you cannot properly regulate something that's anti-regulation as a concept? I still think we're years behind any sign of real and strict requirements on Cryptos.
 
Cryptocurrency going to hurt the whole world. Just wait and watch, there is a reason why India put a straight-up ban on the crypto.
 
Now in many countries negotiations are underway to introduce cryptocurrency into banks. Well, wait and see.
 
Nut-Nights said:
Cryptocurrency going to hurt the whole world. Just wait and watch, there is a reason why India put a straight-up ban on the crypto.
Click to expand...

It won't have the wide impact needed to hurt the whole world as it won't be adopted, not in it's current form - still no viable way to enforce tax on it, potential of no transparency of transactions (truly anonymous coins available on the exchanges), highly deflationary (btc, etc fixed amount to be mined), no leverage and credit mechanisms etc etc etc.

OT this will be a step forward for the cryptocurencies if they apply new rules regarding transparency, only the blackhat crypto users will find this to be a negative.
 
Nut-Nights said:
Cryptocurrency going to hurt the whole world. Just wait and watch, there is a reason why India put a straight-up ban on the crypto.
Click to expand...

I don't necessarily trust the decisions of the Indian government. The bulk of their population lives in poverty, they obviously don't have a sense of the proper ways to govern.
 
gorillabob1 said:
I don't necessarily trust the decisions of the Indian government. The bulk of their population lives in poverty, they obviously don't have a sense of the proper ways to govern.
Click to expand...
I don't know what to say here, do you know how much is 130 cr people? and how world lvl politics works and how it hurts the growth of tons of developing countries? Did you read the article explaining why they banned it? so much for "I don't necessarily trust the decisions of the Indian government."

2008 account goes live in 2016 and I wish my memory was not that weak :rolleyes:
 
crypto was never hidden anyway.

there always a leak.

all the crypto services work with authorities was all bullshit in the first place.

pay tax and don't go jail full stop

crypto was going to be online money only, then sell it to convert to your currency then pay tax on it (( them rules been from day 1))

too many ppl thinking they can hide money than cash out free (( sorry not now all working together ))

as time went on 2020 all banks and crypto are all linked.

anonymous not meant hidden from bank knowing who you are, anonymous in crypto now 2020 it keeps you safe as having money as a number/letter and not use your name.....

when you cash out, all tax authorities no everything reported taxing man same way as normal cash.

the greater thing about crypto you can make profits on the movement of the value of the investment just same as gold, silver , others .
 
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Nut-Nights said:
I don't know what to say here, do you know how much is 130 cr people? and how world lvl politics works and how it hurts the growth of tons of developing countries? Did you read the article explaining why they banned it? so much for "I don't necessarily trust the decisions of the Indian government."

2008 account goes live in 2016 and I wish my memory was not that weak :rolleyes:
Click to expand...

India also banned forex for a long time if memory serves well, right? I mean, let's be honest here...
 
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