US senators introduced a bill on the regulation of digital assets
A new anti-money laundering bill aimed at strengthening control over activities related to digital currency "The Law on Combating Money Laundering, Financing of Terrorism and Counterfeiting of 2017" was filed last week by Senator Chuck Grassley from Iowa and Senator Diane Feinstein (Diane Feinstein) from California.
It contains additions to the definition of "financial institutions", which, if passed the bill, can carry out "any exchange or mixing of digital currencies". In addition, the bill clarifies that all "issuers, buyers or sellers of digital currency" also fall under its effect.
Despite the fact that the bill does not clearly define crypto-currencies, it approximates bitcoin and other digital currencies to the definition of a "monetary instrument" in accordance with the US anti-money laundering statute, since it is aimed at "funds stored in a digital format" According to a summary published by Grassley's office.
In addition to the regulatory adjustment, the bill requests information from the Customs and Border Guard Service of the US Department of Homeland Security about the policy on digital currencies.
In particular, he calls for "a detailed description of the detection strategy for devices with an advance payment of access and digital currency at border crossings and points of arrival." The report should be submitted in 1.5 years after the passage of the bill and contain information about which strategy will be implemented.
I am surprised they haven't already done this. Nothing like the Government trying to regulating everything to get their cut.
I do not see how they can regulate crypto currency. Let's see how they try to do it.
@victorvazco reply,resteem,upvote and follow please, have a great day!
I could not find on https://www.senate.gov/legislative/bills.htm, scribd removed from their website too. This is were the copy originated from. http://www.coindesk.com/senators-call-digital-currency-oversight-anti-money-laundering-bill/
Why is it always California!??? Are people there so brained washed that they have no idea what is going on?
Nothing ends well where gov't is involved and
they can not ever leave things alone.
It is beyond time to bring out the guillotines.
To combat money laundering; shut down the banks!
To stop financing terror; de fund the C I A!
To end counterfeiting; END THE FED!
"That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it..."
From the Declaration of Independence
The government spits on the people and the government has long been not interested in our problems, they have a lot of millions of wages and deductions