Bitcoin showed if you lie like FTX and SBF did, you will be financially punished
Bitcoin worked
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Many more will try - many more will fail. Warren and banking establishment backing her are only today’s SBF’s.
It's going to be fun to watch, Warren and the Bankers, when they find out just how much power they really have
It's going to be a 5 Stage of Grief humbling experience for them
Bitcoin didn't do anything. Incompetence and stupidity took down FTX.
They can't stop Bitcoin but they will influence how people use it.
The Bitcoin network relies on businesses for it's infrastructure, users rely on mining pools, LSPs, custodians... All regiter businesses who will follow the laws and regulations, and so will their customers.
Once a year you dox your Bitcoin transactions to the IRS, your accountant, and an accounting software company. Why? Legislation.
Don't you think that the reporting obligation doesn't change how some people use bitcoin?