[Cryptography] 1984! US Senate Doesn't Launch Forfeiture and Crypto / Cash / Assets / Prepaid War

[John Levine]

In article <CAD2Ti29CPMN+KZ-T0Y=JEmAiJCpY071Sh8vVa4LYR8u1PXj6iw at mail.gmail.com> you write:
>Posted on Jun 15, 2017 by Caleb Chen
>
>These are the 4 Senators that want to create a way to track your
>digital currencies at the US border ...

I'm getting the impression that nobody here but me has actually read
the bill.

It's really about prepaid debit cards.  The US and many other
countries have for a long time required you to declare at the border
if you're carrying $10K or more in cash or cash-like things, and now
that you can easily put $10K on a prepaid card, it's adding them to
the list of cash-like things.  There are passing reference to digital
currencies, but all it does is make them subject to the same rules in
the unlikely event that you were carrying a digital wallet in a
physical form, I suppose with the wallet hash printed on a piece of
paper or something.

If I thought bitcoin were important (I don't) I'd be thrilled that the
law was changing to treat it more like real money.

R's,
John