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135 sats \ 2 replies \ @freetx 21 Jul \ on: The GENIUS Trojan Horse Politics_And_Law
Secondly it forces every digital dollar to flow through state-controlled gatekeepers who would enforce OFAC sanctions and blacklist wallet addresses at the behest of the state.
Can someone explain this bit in more detail? Are they saying:
  • P2P use of shitcoins / stablecoins will now be illegal?
  • Or, shitcoins / stablecoins that transact thru regulated financial markets will be subject to same regulations as everything else?
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77 sats \ 0 replies \ @KudzaiK 21 Jul
What I meant by that, is to say stablecoin issuers have now been absorbed into the same fiat cartel as banks and which means laws like the Bank secrecy act and sections of the Patriot Act are now part of their compliance toolkit. OFAC can lean on and influence them the same way it does banks. Hope it makes sense
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10 sats \ 0 replies \ @BlokchainB 21 Jul
This already happens with American banks!
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