The crypto market is about to get a taste of (((regulation))) But don’t worry goyim it’s for the best
In just nine days, new rules by the Financial Action Task Force on Money Laundering (FATF) will force cryptocurrency businesses in roughly 200 countries to verify the identities of anyone sending or receiving more than $1,000 worth of digital assets, effectively nullifying their pseudonymity.
A number of US-based firms have responded by exploring the viability of a “global parallel system” that would allow the world’s cryptocurrency exchanges to share data in a bid to remain compliant, Bloomberg reports.
unenforceable bullshit. this only affects endpoints anyways for conversion to fiat currencies. though perhaps storefronts that accept crypto would get bit too, though that kind of compliance for small guys is retarded and unreachable. there's no way to control actual crypto transactions. the internet of money is divorced from government. one day those faggots will learn that. the real issue is that there needs to be less reliance on exchanging for fiat and keeping transactions and good/service purchases within the network.
Michael Davis
I doubt it. privacy coins aren't smth you'd buy directly from an exchange ideally for their intended purpose given existing kyc bullshit at exchanges. if anything interest in them will increase given this faggotry.
Ryan White
It goes in all fields you maple nigger.
Elijah Cooper
are there any exchanges which are actually decentralized and DGAF about any government regulations. i have used a few in banana republics like panama and russia but they are still ostensibly law abiding. are their exchanges which only exist as online entities with no actual real world office and unregistered as companies?
David Wood
i recall one called payfair which was supposed to be a decentralized exchange. havent heard it in a year or so, probably dead. had a good premise.
Jaxson Martinez
you literally already have to do the identity KYC AML shit with any exchange, kys fud and buy the dip
Angel Gomez
So they are literally retarded. Who are they going to serve sopenas to, the fucking blockchain?
Yes niggers I know they can serve trade hubs that's not what I'm talking about.
Ayden Morgan
The government will, no doubt, make sure that buyers who purchase in crypto must be registered.
Christopher Gomez
WTF IS THE POINT OF CRYPTO IF IT'S NOT ANONYMOUS?????
This is called "stacking" and it's the absolute number one RED FLAG the IRS (or equivalent) looks for within the banking system. In short, you will get ass raped if you do this at a bank--do dozens of deposits just under $10k.
I'm sure they will figure out how to monitor stacking in crypto, too.
The government sucks at most things, but they are geniuses at catching money launderers and drug dealers.
Owen Gomez
So what if you randomize he amount sent every month but it has to be under 10k?
Carter Murphy
>they are geniuses at catching money launderers and drug dealers
funny Obama and the dems did this when they sent iran cash... you know all those after the fact sends they did? dems are fucking anti American niggers.
Brody Smith
>"no"
James Perez
That merely proves how strong their password and encryption is for their platform. They can already track bitcoin transactions, it has been proven quite a few times now. Other coins may be less vulnerable but it's hard to say until they become somewhat popular as they likely won't waste their time on rarely used coins.
Julian Torres
>Set up offshore Trust >Set up bank account >put the name of who you want to send the money to as a beneficiary on the account >take out loan of X dollars using the BTC as collateral >allow beneficiary to anonymously withdraw all the money >Default on loan >bank takes BTC and we've just circumvented their laws. Albeit it's a little complex however if you really want to use large amount of BTC to pay someone under these new laws.
They already tried regulating it before with the 10k taxes, lmao how well is that working out for them? People will just take it out in other countries that will not enforce the regulation. Most of the crypto market isn't even in the U.S.
funny right? they cant even find this one. so funny when they claim they did a bust of some mob or some problem happened or thing and they never say its them. bu tthen you can never defend yourself from them. its a cult
you're retarded if you think that exchange's fuckup has anything to do with cryptos themselves.
Andrew Morales
Keep your faith in jewish paper money, pleb.
Ryan Hall
You have to control your private keys.
Carter Gray
Wasn't the entire point of these crypto currencies to avoid government regulations? If they comply, what's the difference between them and standard fiat currency?
Luke Jones
>tfw I'm going to buy maltan citizenship with my crypto gains
>he doesnt know that literally NOTHING is beyond the reach of tyrannical govts that only exist to fuck ppl over and legally steal their wealth as they are used like slaves and yet are deluded to think they are fee
Jace Richardson
Sooooo real question, will the price collapse now
John Lee
another big win from the ever-competent trump administration.
all trading will be done outside of the US, problem solved.
Nathaniel Phillips
I ain't even in crypto, but isn't this only a problem if you use the exchanges?
The blockchain itself and the wallets are all anonymous, so as long as you're just sending BTC to someone's wallet the government has no way to fuck with that
Henry Walker
that doesn't sounds that bad to me, rather the opposite.
beeing allowed (by law) to be anonym up to $1,000 is quite a lot to be honest. I was sure it has been 0 since a long time.
Turns out most ICOs didn't had to make KYC on small cap investors after all.
Jacob Kelly
Indeed it is this will move people to p2p exchanges like bisq.
Am I now allowed to use exchanges anonymous up to $1,000, and are BTC ATMs affected as well because the current limit is ~$200 over here.
I don't kyow but, wouldn't that mean such limits can be increased as well.
Jacob Smith
No bitcoin price will go to 180k in less than two years. The litecoin halving is preventing a crash now and soon the bitcoin and bch halvings will cause a massive increase in price even in the entire market.
ICOs have been a cancer in the crypto industry kyc has been a cancer in the entire business area , you can´t do a fucking international wire this days without proving you are not Pablo Escobar 2.0 and things like paypal can be blocked instantly becase muh money laundering.
Crypto will keep growing because of this shit and the sooner that exchanges collapse the better. We need to go back to p2p exchanges like localbitcoins but also descentralized like bisq.
As soon as those take off forget about icos bullshit , forget about hackings on exchanges.
Do you have any idea how bad deflation is for an economy you retard?
Joseph Allen
>Exchanges >Crypto
Not your vault not your bullion , not your wallet not your cryptos.
Alexander Baker
By "an economy" you mean "the Jews"
Caleb Hill
I guess I have to hire a sweatshop of Mexicans to run my account now.
Zachary Smith
THEN WHAT WAS THE FUCKIG POINT
Mason Lee
Yeah, because zoomers should get rich by playing video gamez.
Eli Campbell
Kek (((they))) always win
I remember when the exchanges were clamoring to be regulated so they could sell to muh qualified investors. Fags ruin everything for everyone.
Dylan Hill
God you are a fag
Kys bootlicker
Jonathan Morris
get centralized nerds
Bentley Taylor
>The government sucks at most things, but they are >geniuses at catching money launderers and drug dealers. L0Lno fgt pls They are idiots in every theatre of operation.
Andrew Green
Kek
Jaxson Evans
the government hates competition
Parker Hall
9 days...that's ironic
Jackson Smith
Fat action trannies sucking dick on monkey bars FATSDMB has identified the following as part of their concerted effort to stop kids from sticking fingers into their own buttholes: lemons. That's right kids, lemons .
Easton Martin
Unenforceable. Same with cash transactions
Cooper Peterson
>will force cryptocurrency businesses in roughly 200 countries You can only force businesses in one country to do what you say. The rest can tell you to fuck off.
Cameron Cooper
This only matters for people cashing out in real dollars.
This is unironically a good thing for crypto. It reduces the amount of market speculation.
Imagine this: You sell a product for crypto. You now have crypto which you use to buy products or services.
Now what? At this point you're still anonymous and will remain so unless you don't try to cash out in USD or something.
This makes it more likely that people continue to trade goods and services in pure crypto, never cashing out.
Less pumping and dumping ensues.
All this measure does is ensure that people don't have "convertability" in a different currency. The currency is alive and well and functioning as it should.
Anthony Baker
Crypto was created as a backlash against (((them))) controlling all currency. I doubt this shit will go anywhere. Statists generally don't buy crypto because they trust in their fiat currency. THIS. It's had the biggest gains of all of them this year. coinmarketcap.com/currencies/bitcoin-sv/ cryptobridge? this. Amerifats don't control the entire fucking world, contrary to what (((patriots))) and CIAniggers believe.
Ayden Anderson
>According to Bloomberg, services with licenses to transmit money could face increased scrutiny from local government agencies, and risk losing them altogether if they don’t comply with FATF’s rules.
>Even so, countries themselves could take the hardest hit. Individual government agencies are tasked with ensuring compliance within their jurisdictions; nations that fail to comply usually end up on blacklists, eventually losing access to the global financial system.
Please read the article my nigger. These are the participating countries btw
If I told you that I'm building a website to make this irrelevant and I will move roughly 10 billion $s/day would you believe me? The government can't do shit. Fuck niggers and fuck the feds because I'm getting rich baby. Hope the CIA loves sucking big fat cock because that's all they will get.
Adam Russell
The whole point is that regulations from any state are completely ineffective by design.
Liam Parker
Are you fucking retarded? American law enforcement has made it it's duty to protect generational wealth and corporate interest. They are only good at raping middle income folks who just never thought they'd get audited
Jace Moore
>If I told you that I'm building a website to make this irrelevant and I will move roughly 10 billion $s/day would you believe me? No because you are a memeflag. Not because I don't believe people on this site.
Juan Sanchez
20% of bitcoin are already lost forever due to people losing their digital wallets forgetting pwords dying etc
Juan Ward
Which is good, it means its deflationary. Nobody needs an entire bitcoin. In the future trading can be done in 1/1000th of a bitcoin or 1/100000000000th of a bitcoin. It's an infinite number.
Blake Garcia
the entire point of crypto is to not use it like a bank
