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RE: The government crackdown on crypto is about to start in the US
On the other hand, it’s been said that regulators have been open-minded and are working to accommodate innovation in the space.
I don't hate all regulation, I really don't, but the NY BitLicense is an abomination that really turned me off to anything regulators have to say about the cryptocurrency space.
Regulators aren't really being open minded in this bill anyway. The bill here is both a burden on the honest crypto users and also not likely to be effective against highly skilled hackers, terrorists, etc. Terrorists don't even use a lot of money in their operations and haven't needed crypto before because they have hawala or even bag of cash exchanges.
The threat of terrorism is also very low statistically and the success rate for tracking money is also very low. Look at the fact that the bill wants to increase the years in prison from 5 to 10 years for money laundering. Sophisticated hacker will never be caught on money laundering, so who is most likely to be arrested on something like this?