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Comment by superkuh | Hacker News Reader

Unlike the USA which taxes it as if it were an asset but regulates it like a legal tender in an attempt to kill it.

KYC and AML for the purpose of money laundering exists throughout the world. Which regulation is specifically attempting to kill bitcoin if you don't mind me asking?

The US government has clearly stated bitcoin is not a currency. But they are still passing regulations saying all transfers of cryptocurrency value over $10k USD equiv have to be reported (as if it was a currency). This kind of obvious double-think has only one purpose.

US gov stance on cryptocurrency, when described this way, is clear to me. “We will only accept X. We will monitor the use of Y as a means of value exchange among the citizenry, since we still want everyone to participate in X market and pay taxes in it[0].”

Less double-think, more orthogonality.

[0] a.k.a. “maintain a country”

They hate it because they can't control it.

Remember, the payment processors and paypal all decided to cut off wikileaks and ban people who try to paypal money to them as punishment for exposing US war crimes.

Control of the currency is control of the populace. It's why crypto, is so wonderful, and everyone needs to accept it.

But this only applies to businesses, and if you had a business relating to crypto you would at least i was reporting much less in dollar value other’s in my circle as-well. This regulation does nothing in slowing let alone killing bitcoin nor crypto.

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