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from the all-your-coin-are-belong-to-us dept.
In May, the bill S.1241 (archive) was introduced in the U.S. Senate by Chuck Grassley, a Republican Senator from Iowa. The bill, if enacted, would call upon the Department of Homeland Security to develop
a strategy to interdict and detect prepaid access devices, digital currencies, or other similar instruments, at border crossings and other ports of entry for the United States
According to a story at btcmanager.com (square brackets in original),
the bill would "criminalize [those] intentionally concealing ownership or control of a [digital currency or digital exchange] account.
The Senate held a meeting about the bill on November 28. Witnesses included Charles Davidson of the Kleptocracy Initiative of the Hudson Institute conservative think tank; Douglas Farah of IBI Consultants, which specializes in "issues of national security, transnational crime, terrorism, terror finance and non-state armed actors"; and Kathryn Haun Rodriguez of Coinbase, a cryptocurrency exchange. Ms. Haun, however, made no mention of cryptocurrency in her testimony (PDF).
(Score: 2) by legont on Wednesday December 06 2017, @01:26AM
It does not matter if coins cross the border at the same time as the body or not. They can simply check the source when coins are spent. It is either a buy from a reputable dealer with traceable funding source or mining with a paid electrical bill. Lacking last two would prove illegal border crossing. Note that any exchange of coins in an attempt to anonymise transactions would be repeated crossing and I can imagine say 100000 violations * 1 month each prison term.
"Wealth is the relentless enemy of understanding" - John Kenneth Galbraith.