Criminalizing Bitcoin Users? US Congress Holds Hearing to ‘Modernize’ AML Laws

cryptocoinsnews.com

16 pointsseomint2 comments

I think the headline is right. Any bitcoin owners best transfer to me whatever they have, just in case.

In all seriousness: The govt wants its taxes. We're talking HUNDREDS of billions now in coin value, not millions. Sure they are traceable, but at what cost? They can't pay $100K in fees to run blockchain audits to see if what you declared was correct or not...

USA has made virtually every bank in the world spend gazillions to report every account opened by a US person, Bitcoin is probably a walk in the park compared to that.

I thought that everyone who mined had a complete copy of the blockchain along with the current balance of every wallet. Therefore shouldn't it be rather cheap to audit it?

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