[garmaine]

Bad news for crypto.

[quitit]

I’d be interested to know the implications if you have time to share.

[garmaine]

https://www.coindesk.com/business/2021/11/06/house-sends-inf...

Tl;dr it will be a felony offense to receive >$10k of any digital asset without filing a report including KYC information on the sender.

[Henk0815]

10k i which time frame? a crypto can in worth from 9k to 10k and back to 9k in one day.

[nijave]

Sounds like maybe a Suspicious Activity Report (SAR) banks have always had to file.

[garmaine]

Similar, but this applies to individuals and non-financial companies.

[ianai]

The exact time of transaction.

[EastOfTruth]

They were loosing the grip on things?

[EastOfTruth]

Everything Biden does is very short sighted....

[quitit]

Thank you

[marcellus23]

Good

[DaftDank]

What is good?

[marcellus23]

The comment I responded to consisted of one sentence that communicated one idea. Where’s the ambiguity in what I think is good?

[DaftDank]

Ok, so I assume you are saying it's good crypto is having bad news. May I ask why?

[marcellus23]

I think there’s enough info out there on what’s bad about crypto, I don’t have a particularly unique take on it. I suggest Googling it.

[throwaway4good]

Why? Would it not be worse if the bill had not passed?

[garmaine]

The 6050l provisions in this bill are impossible to comply with, and carry criminal charges of you don’t. It would be far better if this bill didn’t pass.