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RE: New law will require travelers entering the US to reveal digital currency holdings
The USA gets so much more invasive with each passing day.
What would stop someone from "giving," their entire stake away to someone prior to arriving, and once home, that person decides to give it back? Just an example.
These kinds of laws are not only stupid, they're disgusting and disheartening.
This. I used to love travelling to the US. Now, with the full body scanners (which I make a point of opting out from every single time) and the police state ambiance at the airport, it really feels like I arrived in Gattaca. Pretty chilling.
Very true. I've traveled to many countries and I can honestly say that my home country, the USA, is the LEAST free feeling country I've ever been to. I do not feel more "ruled over," anywhere else in the world . . . It's a hard/sad thing to say, but it's true.
It's even more complicated with smart contracts, deadman switches, and other stuff. It's not really possible to determine how much anyone will have in the future and there is a technique called time lock encryption where a person can send their stash to themselves in the future and the transaction can occur in such a way that they can be inspected.
The problem with these sorts of laws is they just seem to want to throw digital currency in with a bunch of other stuff as if it's the same or similar. It's programmable, it's not similar to anything else, and in my opinion if it's going to be regulated then they have to do it in it's own lane. Honestly I don't see this particular regulation doing anything except cause the actual terrorists to use smart contracts with their digital currency and cover up their tracks.
People who truly aren't terrorists will follow the law and be inconvenienced.
Yep. So many loopholes are out there. Nothing pisses me off more than government trying to get bigger and more controlling. GTFO of people's lives for god's sake.
Nothing says "freedom" quite like government regulations.