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Yaël
yael@yael.at
npub15dnl...3lfc
deputy director @ consumer choice center
fellow @ bitcoin policy institute
québécois-american innocent abroad in Wien
🥂Toasting all my fellow Canadians abroad. It seems we’re growing in numbers everyday (not a surprise).
Finally flying back for some family time to Montréal here soon. I haven’t been home in 6 years (merci Trudeau !)
Not many people know that Lebron had a huge influence on Satoshi and probably inspired him to develop bitcoin
Meet FATF: The Financial Bullies Memberclub Trying To KYC The Planet
by @L0la L33tz


The Rage
Meet FATF: The Financial Bullies Memberclub Trying To KYC The Planet
There's assholes, and then there's FATF.
The Financial Action Task Force is an intergovernmental body created in 1989 to "combat money laundering ...
I will happen to be back in my hometown in a few weeks (Montréal) at the same time as the Canadian Bitcoin Conference.
should I stop by? schedule looks great
–Samourai Wallet developers arrested and accused of conspiracy to commit money laundering and operating w/o money transmission license (1)
–Roger Ver arrested and accused of tax fraud (2)
–Binance's CZ will do a 4-month jail stint for a lax AML program (3)
–Tornado Cash developers on trial in the US for "facilitating" money laundering (4)
–Another Tornado cash developer awaiting sentencing of up to 5 years in Dutch prison for money laundering (5)
-An alleged founder (not proven) of Bitcoin Fog mixer found guilty on money laundering charges (6)
-Privacy services now shutting down completely or cutting off access to US users for fear of future prosecutions (7)
-Silvergate and Signature Bank face liquidity crises and bank runs when various government agencies begin probing around their AML programs and connections to the cryptocurrency industry (8)
-New US legislation aimed at surveilling crypto transactions and lowering the bar for Suspicious Activity Reports (down to $2,000 for bitcoin and crypto)(9)
What binds all of these accusations, cases, and prosecutions that have flooded out in a manner of months and even weeks?
They all deal, in some way, with the next-generation of cryptographically secure money outside of government control.
Beyond Operation Chokepoint, the significant amount of government resources dedicated to sinking businesses and criminalizing otherwise decent individuals offering tools for citizens to use peer-to-peer digital cash demonstrates there are powerful forces at work here to quash the parallel crypto economy.
The undoing of FTX and SBF came not at the hand of his future jailers, but rather the journalistic work of a few sleuths who caught on to the actual scam that is easily one of the largest crimes of our time. All the the while, SBF and his platform were the toast of the town: Silicon Valley, Washington, and among New York financiers. His crimes compare in absolutely no way to any of the previous cases mentioned here.
For the independent developers, financial entrepreneurs, and activists mentioned above, they empowered people to handle better versions of code and money.
As national debts balloon, and governments offer no solutions on fixing their fiscal positions, they weaponize different agencies and law enforcement to stamp out the system they cannot control.
Cynics might say this is just an effort to squeeze the population and innovative industries out of the need to fiscally sustain government largess. Or perhaps cutting off the ability for an alternative monetary system to develop that would endanger the Central Bank fiat monetary system.
What is overwhelmingly true, however, is that financial freedom is at stake more than ever. And that goes hand in hand with economic freedom.
Will we allow this to continue? Or will be resist the anti-progress kinetic forces that are denying us the ability to freely associate and exchange value how we see fit?
There has to be true moral clarity on what is at stake here, and how we can steer the forces that wish to deny us financial and technological autonomy.
I know what side I'll be on.
(1)
(2)
(3)
(4)
(5)
(6)
(7)
https://blog.wasabiwallet.io/zksnacks-is-discontinuing-its-coinjoin-coordination-service-1st-of-june/
(8)
https://www.reuters.com/business/finance/fed-orders-silvergate-complete-wind-down-while-protecting-depositors-preserving-2023-06-01/
(9)


Samourai Wallet Founders Arrested and Charged With Money Laundering
Federal prosecutors charges Samurai Wallet founders Keonne Rodriguez and William Lonergan Hill with conspiracy to commit money laundering on Wednes...

Forbes
Roger Ver, Known As “Bitcoin Jesus,” Arrested And Charged With Tax Fraud
An indictment naming Roger Ver—“Bitcoin Jesus”—has been unsealed in federal court. Ver has been charged with mail fraud, tax evasion ...

CNBC
Binance founder Changpeng Zhao sentenced to 4 months in prison after plea deal
Five months after pleading guilty to money laundering violations, Binance founder Changpeng Zhao was sentenced to four months in prison.
MSN

Dutch Prosecutors Seek 64-Month Jail Sentence for Tornado Cash Dev Alexey Pertsev
The judge will deliver the verdict on May 14, the court said.

Blaze Media
The feds are trying to stifle Bitcoin and crypto with draconian new regulations | Blaze Media
Should regulations aimed at halting the financial activity of alleged criminals and terrorists be vastly expanded to include cryptocurrencies and f...
Is this a problem on nostr?
“With Mastodon being a federated platform (a part of the Fediverse), the request to generate a link preview is not generated by just one Mastodon instance. There are many instances connected to it who also initiate requests for the content almost immediately.
And, this "fediverse effect" increases the load on the website's server in a big way.”


It's FOSS
Please Don’t Share Our Links on Mastodon: Here’s Why!
We need to talk about this problem. Should Mastodon step up?
Stack harder
get your tickets today!
Excited to be at @BTC Prague again this year


BTC Prague
BTC Prague - The biggest bitcoin event in Europe
The biggest, most influential bitcoin event in Europe ever, again!

My fellow Canadian CZ gets the ax for the “lax” AML program at Binance


Binance Founder Sentenced to 4 Months in Prison (Published 2024)
Changpeng Zhao, the founder and former chief executive of the Binance cryptocurrency exchange, had pleaded guilty to a money-laundering violation.
READ: My comments on the Commerce Department's rule requiring cloud service providers KYC customers to stop "malicious" foreign actors.
This rule puts consumer data + privacy at significant risk, overrules due process and would be ripe for abuse.
It would mean that every cloud service you use: bitcoin and cryptocurrency nodes, VPNs, data storage, cloud servers, and more, would be required to collect significant amounts of information they would need to make readily available to law enforcement.
We should wholeheartedly REJECT this rule.
For more on this, follow the Consumer Choice Center.


Consumer Choice Center
Consumer Choice Center’s comment on the US government’s proposed KYC regulations for cloud servers
Earlier this year, the US Department of Commerce proposed a sweeping regulatory rule that would force cloud service providers to collect and retain...
"But Yaël, what are you going to do at an * FT crypto* conference?"


okay, on the Damus Purple train
Money transmission laws, set by states, need modernization, clarifying that noncustodial crypto services DO NOT fall under MSB territory.
At the same time, for the remaining custodial services, it should be made as easy as possible to acquire one of these licenses.
I wrote model language for a state-level bill for reciprocity of Money Transmitter Licenses, and I will expand it ensure noncustodial services would not fall under MTL within that language. Working with state lawmakers to introduce where I can.
This is the stuff that matters, and I hope many bitcoiners stop supporting unenforceable "feel good" bitcoin bills in states that do nothing. States have dominion over money transmission rules and enshrining into law the non-application for noncustodial services should be a priority.

GitHub
Bitcoin-Model-Policies/Smart-Cryptocurrency-Rules-Act at main · yaeloss/Bitcoin-Model-Policies
Model policies for Bitcoin. Contribute to yaeloss/Bitcoin-Model-Policies development by creating an account on GitHub.
Whatever this bill or future legislation requires, it is clear that non-custodial solutions and peer-to-peer transactions without any intermediary will have to remain the focus for scaling the adoption of Bitcoin and other cryptocurrencies.
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sorry, @Bugle.News #40HPW🎧 just doesn't know the pleasure of zyn


Your Constitutional Right to Zyn
The nicotine pouches are hugely popular, have become a culture war issue, and could be the target of a federal crackdown.
For those who've never been to the stellar country of Georgia 🇬🇪, they really have no idea how much Russia has been encroaching on its border and society for the past two decades.
The young population are mostly economic liberals (libertarian), who benefited from an incredibly capitalistic free market that was ushered in after the fall of the Soviet Union. There were some great voices and entrepreneurs in both civil society and politics that created a true land of liberty up until fairly recently.
More politicians are getting the Moscow bug, and that's creating a deeper crisis.
If you ask whether they align with Russia or Europe and West, it's undeniable they choose the latter.
Instagram main feed of photos is on-chain bitcoin. Likes are public, photos are (somewhat) immutable on the chain (feed), and traceable in your mempool (account).
IG stories are lightning network. Quick, cheap, only one-way privacy. Need a lot of liquidity and high ranking in the network growth (feed followers) to be a routing node (influencer).
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