This is clearly going after services like shapeshift.io. If you are unaware, shapeshift lets you transact between various cryptocurrencies on an exchange. The

This is clearly going after services like shapeshift.io. If you are unaware, shapeshift lets you transact between various cryptocurrencies on an exchange. The exchange doesn't hold record of the transactions, so you could legitimately buy BTC with a coinbase account linked to your bank account, exchange it to lite coin (or any other currency to) and have it deposited in a wallet you created anonymously, then exchange it back to BTC but to yet again an anonymously created wallet. At most it nips away a couple of percent, and now your BTC cannot be traced back to you even though you bought it with a bank account linked to your name. Its the easiest laundering that has ever existed. This bill would force shapeshift IO to maintain transaction records, game over.