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RE: USA wants.. Travelers to Declare Bitcoin at the Border!
This is just silly... How could they find who is not declaring their holdings? Pretty tricky I think to regulate...
But oh well... America is the land of prohibition.
Lets see how this unfolds
this bill is nothing but a weak PR campaign. intelligent crypto users will not be intimidated by it. this is the same media spin that has been blowing up in their faces lately with everything, and citizens are waking up. it will only spur more crypto adoption.
In reality, there is no way they can enforce this bill! Just another piece of government propaganda!!
They can. You already have to say what Facebook etc. accounts you have (You, because terrorist always state their attacks weeks before on facebook), so other accoutns are not that different.
+1
It can't possibly be enforced.
This sort of thing is just growing pains while the world adapts to these currencies.
Non western countries are handeling this situation way better, instead of trying enforce something they can't control.
the problem is its just another tool to separate you from wealth, if they decide to mess with you and , lets say you traveled outside of the US two years ago and you had 50.000 in crypto at the time and you took your phone, computer, or whatever with you anything that would give you access to your accounts, they go back 2 years see that you didnt declare anything and bam civil assets forfeiture and now you are broke.
That's assuming that you have only the same devices that you started out with. You could easily use other devices while you're away and rid yourself of them before you return. After all access is private.
but if down the road you come under some type of gov scrutiny and they discover you were out of the country in the past and you had over 10.000 in crypto they can seize all of your assets and you are screwed.
You are right, this will not effect most people but if they decide they want to nail you for some reason they have this at their disposal.
Plus jail time,
Be careful what you put in your brain wallet...extraction could get messy in a back room at the border or airport...FEMA camp?
Indeed. That's what they do.