75 sats \ 2 replies \ @windward 28 Apr \ parent \ on: The Network Access Exception To The Money Transmitter Rule bitcoin
Yes?
Both?
The unit that issued the warning about MSBs and crypto was the Internet Crime Complaint Center - their role is to basically record & track internet fraud and tie the money to other crimes the FBI are investigating.
The release was made just after the most well known BTC privacy tool for obscuring the source of funds was shut down & its developers arrested - the two are probably related.
Separate how we feel about privacy or what Samorai devs are specifically accused of - as people start to adopt cryptocurrencies(including bitcoin, but let's not deny that shitcoinery will abound) there are going to be services that offer to make the process easier by taking custody/manage things for people and rug them as a result of malice or ineptitude.
They( the FBI) can't actually legislate things. It feels like the ATF and gun laws in the US - they don't make the law, but they will set rules that they treat like the law.
The only option the Feds have short of banning the stuff entirely (which they don't have the power to do) is to advise self custody/dealing with people the state knows they can go after if things go sideways.
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absolutely
they want to have things to throw at people when they go to prosecute - wildcat neo banks are going to be a thing, and it'll be really hard to reign in a parallel polis if they also have a 1:1 system to go into.
exit will have a little friction to it - but they can't legalize it away, yet.
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