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It's a war for control. I don't think the article goes too far. I used to run a small business that sold Bitcoin for cash and it was practically impossible to
by zachlatta 10y ago
It's a war for control. I don't think the article goes too far.
I used to run a small business that sold Bitcoin for cash and it was practically impossible to keep it afloat – every major bank refuses to work with cash businesses that aren't retail because of MSB regulations.
If you read up on the history of money service regulations, they make it practically impossible for a business to transact with customers anonymously under the guise of preventing money laundering and terrorism. Every transaction needs to be available to the government.
- wheelerwj 10y agoHello fellow bitcoiner! I am also very aware of MSB regulations. However, anonymity has never been a priority for the US government. If you look at the timing of the BSA (October 1970) and the Nixon's war on drugs (June 1971) you begin to see that this isn't about government control for the sake of control. It's about providing tools for a specific agenda. Regrettably, these tools are never dismantled and the government is never held accountable. Now, if you look at the interests behind the war on drugs, I am reasonably certain you won't find it being funded by worried mothers or fathers.
- zachlatta 10y agoAh, thanks for the correction and for the info – will look into both.