Is the US beginning a pursuit against Cryptocurrencies?

While all people are distracted with the ongoing news cycle including, but not limited to, North Korea, the riots in Charlottesville, Virginia, the possible trade war with China, it was almost not publicized, at all, that he U.S government has mandated that all world governments should monitor cryptocurrency circulation as a way to battle “illicit finance trends” in a “attempt” to “combat terrorism”.  

The Bill designated H.R. 3364-51

This bill will require the creation of “national security strategy” to battle the “financing of terrorism and related form of illicit finance”  

All world countries will be further obliged to screen all “data regarding trends in illicit finance, including evolving forms of value transfers, such as so-called cryptocurrencies.” 

Initial draft of the bill should go through senate in the following year, after the input from the Department of Homeland Security, U.S financial regulators and the State Department. 

All of this represent the predominant opinion of the U.S government that the cryptocurrencies are representing a substantial risk for financing terrorist organizations. Still no concrete measures are outlined and this are just the exploratory stages in coining a bill, but the overall mood of thinking can be felt, trough the harsh rhetoric and reasons, given for this initial endeavor. 

This may represent a real movement for the push of the people to have a decentralized system, free of government and institutional oversight and as we see in the past The U.S policy can be swiftly imposed on all world countries, regardless of international legislative framework.   

We as a community, that has begun to develop this idea into reality, must remain and be always vigilant!    

Used Sources: 

http://www.zerohedge.com/news/2017-08-13/us-launches-quiet-crackdown-cryptocurrencies

http://coinivore.com/2017/08/13/u-s-foreign-sanctions-mandates-governments-monitor-cryptocurrency-combat-terrorism/

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