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U.S. Congress wants to pass a bill that would put serious fines ($10K for bitcoins as opposed to $5K for cash, IIRC) and jail time (ten years, as opposed to five IIRC) if you cross the border without reporting your bitcoins (in addition to confiscating your bitcoins of course).
http://www.coindesk.com/forfeit-bitcoin-congressional-bill-draws-fire-border-check-rules/
A group of US lawmakers wants to see cryptocurrency holdings declared at the nation's border – and advocates of the tech are pushing back.
Introduced last month, the Combating Money Laundering, Terrorist Financing and Counterfeiting Act of 2017 – which is actually the third iteration of a bill that debuted in 2011 – would bring a range of digital currency services under federal scrutiny, including those that provide transaction mixing services.
Yet, the provision that has attracted the particular ire of cryptocurrency advocates – especially those who prefer a regulation-light environment – is one that would make such holdings subject to disclosure requirements at US customs checkpoints. This means if a person trying to enter the country has more than $10,000 worth of bitcoin in their possession, under the proposed legal change, they would need to inform the relevant authorities.
Such requirements are already in place for payment methods like cash. But given the rising public profile of cryptocurrencies like bitcoin, coupled with the perception among policymakers that they could be used to fund terrorist activities, is driving legislative efforts like the bill currently under consideration.
[...] Thus far, the bill hasn't advanced significantly since being introduced last month, public records show. On 25th May, the measure was referred to the Senate Judiciary Committee for further consideration.
At press time, representatives for Senators Chuck Grassley and Diane Feinstein hadn't responded to CoinDesk requests for comment. The bill is also being sponsored by Senators John Cornyn and Sheldon Whitehouse, constituting a group of two Republicans and two Democrats.
(Score: 2) by mhajicek on Friday June 23 2017, @09:50PM (2 children)
It's closer than you think.
The spacelike surfaces of time foliations can have a cusp at the surface of discontinuity. - P. Hajicek
(Score: 2) by kaszz on Saturday June 24 2017, @12:08AM (1 child)
Once the elites control thought, information, genetics, assets and physical movement. It might be hard to fight back. Almost like a third reich "done right". Previous dictatorships had builtin poison pills that made them to implode.
Can't be inclined to, thoughts will be deterred if they happen, can't tell anyone, can't go anywhere nor have the means to do something.
(Score: 3, Insightful) by edIII on Saturday June 24 2017, @01:38AM
More, and more, I'm starting to see the Matrix character Smith's point of view when it comes to humanity. One or two little humans may be cute, but you leave them alone for a few minutes in the garden, and Boom! Your whole planet is gone.
Humanity, not even once.
Technically, lunchtime is at any moment. It's just a wave function.