So a lot of people seem to have the hope that Trump will pardon the Samourai Wallet developers. While waiting for the Storm verdict, I took some time to read through the White House Digital Asset Report to see what this administration thinks of financial privacy, and my guys - if you still believe that the Trump WH is in *any* capacity friendly to these undertakings, you are in for a very rude awakening. View quoted note → Effectively, the White House urges FinCEN to deem *all* privacy measures in digital assets a “primary money laundering concern” under the PATRIOT Act. This includes: -> single use addresses, wallets and accounts -> swapping between networks & chains -> mixers, obviously -> “pooling” or “aggregating” cryptocurrencies from multiple wallets Many will now say: oh, but there’s so much good language in the report as well, like the protection of self-custody. That’s true, but the protection of self-custody is contingent on the *lawful exchange* of assets between users. That’s why the White House additionally urges Congress to *expand the PATRIOT Act* and *amend the BSA to cover “DeFi” services*. To ensure compliance in “DeFi,” the White House suggests the implementation of digital identities, that would tie all of your transaction history to your name, so that “DeFi” services have the power to approve transactions. Even when implemented with ZKProofs, as the White House suggests, this would effectively turn a permissionless system into a permissioned one. I know we live in the age of celebrating all the Bitcoin wins, but sometimes things that glitter are just a massive pile of shit, my dudes.

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L0la L33tz's avatar L0la L33tz
So a lot of people seem to have the hope that Trump will pardon the Samourai Wallet developers. While waiting for the Storm verdict, I took some time to read through the White House Digital Asset Report to see what this administration thinks of financial privacy, and my guys - if you still believe that the Trump WH is in *any* capacity friendly to these undertakings, you are in for a very rude awakening. View quoted note → Effectively, the White House urges FinCEN to deem *all* privacy measures in digital assets a “primary money laundering concern” under the PATRIOT Act. This includes: -> single use addresses, wallets and accounts -> swapping between networks & chains -> mixers, obviously -> “pooling” or “aggregating” cryptocurrencies from multiple wallets Many will now say: oh, but there’s so much good language in the report as well, like the protection of self-custody. That’s true, but the protection of self-custody is contingent on the *lawful exchange* of assets between users. That’s why the White House additionally urges Congress to *expand the PATRIOT Act* and *amend the BSA to cover “DeFi” services*. To ensure compliance in “DeFi,” the White House suggests the implementation of digital identities, that would tie all of your transaction history to your name, so that “DeFi” services have the power to approve transactions. Even when implemented with ZKProofs, as the White House suggests, this would effectively turn a permissionless system into a permissioned one. I know we live in the age of celebrating all the Bitcoin wins, but sometimes things that glitter are just a massive pile of shit, my dudes.
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This
L0la L33tz's avatar L0la L33tz
So a lot of people seem to have the hope that Trump will pardon the Samourai Wallet developers. While waiting for the Storm verdict, I took some time to read through the White House Digital Asset Report to see what this administration thinks of financial privacy, and my guys - if you still believe that the Trump WH is in *any* capacity friendly to these undertakings, you are in for a very rude awakening. View quoted note → Effectively, the White House urges FinCEN to deem *all* privacy measures in digital assets a “primary money laundering concern” under the PATRIOT Act. This includes: -> single use addresses, wallets and accounts -> swapping between networks & chains -> mixers, obviously -> “pooling” or “aggregating” cryptocurrencies from multiple wallets Many will now say: oh, but there’s so much good language in the report as well, like the protection of self-custody. That’s true, but the protection of self-custody is contingent on the *lawful exchange* of assets between users. That’s why the White House additionally urges Congress to *expand the PATRIOT Act* and *amend the BSA to cover “DeFi” services*. To ensure compliance in “DeFi,” the White House suggests the implementation of digital identities, that would tie all of your transaction history to your name, so that “DeFi” services have the power to approve transactions. Even when implemented with ZKProofs, as the White House suggests, this would effectively turn a permissionless system into a permissioned one. I know we live in the age of celebrating all the Bitcoin wins, but sometimes things that glitter are just a massive pile of shit, my dudes.
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smalltownrifle 5 months ago
image
L0la L33tz's avatar L0la L33tz
So a lot of people seem to have the hope that Trump will pardon the Samourai Wallet developers. While waiting for the Storm verdict, I took some time to read through the White House Digital Asset Report to see what this administration thinks of financial privacy, and my guys - if you still believe that the Trump WH is in *any* capacity friendly to these undertakings, you are in for a very rude awakening. View quoted note → Effectively, the White House urges FinCEN to deem *all* privacy measures in digital assets a “primary money laundering concern” under the PATRIOT Act. This includes: -> single use addresses, wallets and accounts -> swapping between networks & chains -> mixers, obviously -> “pooling” or “aggregating” cryptocurrencies from multiple wallets Many will now say: oh, but there’s so much good language in the report as well, like the protection of self-custody. That’s true, but the protection of self-custody is contingent on the *lawful exchange* of assets between users. That’s why the White House additionally urges Congress to *expand the PATRIOT Act* and *amend the BSA to cover “DeFi” services*. To ensure compliance in “DeFi,” the White House suggests the implementation of digital identities, that would tie all of your transaction history to your name, so that “DeFi” services have the power to approve transactions. Even when implemented with ZKProofs, as the White House suggests, this would effectively turn a permissionless system into a permissioned one. I know we live in the age of celebrating all the Bitcoin wins, but sometimes things that glitter are just a massive pile of shit, my dudes.
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Deleted Account 5 months ago
I'm not drinking anyone's koolaud however can we cut the US voters a bit of slack here I mean the left were/are utterly bat shit crazy. Rock and a hard place...
How many times do you need to vote before you realize it’s just a meaningless ritual? It’s all one party.
So you can have a digital wallet. You can have a bitcoin cold wallet. But if you wanna use the money, you have to go through their spyware software so they can track you. Good luck enforcing that but let’s see where this goes. If 10 million people transact without going through their system because we can are they gonna throw us all in jail?
The somewhere else is cyberspace. You're not escaping this tyranny for long by moving around.
Ava's avatar
Ava 5 months ago
Naive bitcoiners who still believe that hyperbitcoinisation rhymes with decentralisation are in for a big surprise. Read the Pegged White Paper for an alternative.
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Noisy signal 5 months ago
This might be a good time to check out Whitney Webb's report on the Epstein files. Its bigger than Trump. It involves the Vatican, the mafia, and the Rothschild connection. Money laundering, weapon sales, sex trafficking . KYC/AML should have been deployed then.
to be fair, trump has no clue what is in that report. even if he could muster up the attention span to read half of it, there is 0% chance his brain is capable of comprehending what it means
This needs more attention!
L0la L33tz's avatar L0la L33tz
So a lot of people seem to have the hope that Trump will pardon the Samourai Wallet developers. While waiting for the Storm verdict, I took some time to read through the White House Digital Asset Report to see what this administration thinks of financial privacy, and my guys - if you still believe that the Trump WH is in *any* capacity friendly to these undertakings, you are in for a very rude awakening. View quoted note → Effectively, the White House urges FinCEN to deem *all* privacy measures in digital assets a “primary money laundering concern” under the PATRIOT Act. This includes: -> single use addresses, wallets and accounts -> swapping between networks & chains -> mixers, obviously -> “pooling” or “aggregating” cryptocurrencies from multiple wallets Many will now say: oh, but there’s so much good language in the report as well, like the protection of self-custody. That’s true, but the protection of self-custody is contingent on the *lawful exchange* of assets between users. That’s why the White House additionally urges Congress to *expand the PATRIOT Act* and *amend the BSA to cover “DeFi” services*. To ensure compliance in “DeFi,” the White House suggests the implementation of digital identities, that would tie all of your transaction history to your name, so that “DeFi” services have the power to approve transactions. Even when implemented with ZKProofs, as the White House suggests, this would effectively turn a permissionless system into a permissioned one. I know we live in the age of celebrating all the Bitcoin wins, but sometimes things that glitter are just a massive pile of shit, my dudes.
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Noisy signal 5 months ago
I remember Idena writing about proof of personhood. I think that's the underlying message to this report.
hasky's avatar
hasky 5 months ago
i see. in that case their stance of crypto is just the same with Biden administration , they think crypto or web 3 is just for laundry money or mostly used for illegal activities . that seems not aligned with their mission to make America as capital crypto of the world ..either they lied or am i missing something here ?
hasky's avatar
hasky 5 months ago
yup something like that🤣
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Noisy signal 5 months ago
My mistake - sarcastic reference to those controlling the money should have deployed KYC/AML on themselves. We both know the rules don't apply to them .
"Effectively, the White House urges FinCEN to deem *all* privacy measures in digital assets a “primary money laundering concern” under the PATRIOT Act." I've been gradually searching through the report, but haven't been able to locate this particular recommendation yet to substantiate your claim about it. What page of the report is this on?
I was afraid that Bitcoin may become great for the IRSs of the world, now even it succeeding as medium of exchange (maybe) might become the world's CBDC, a tool of optimal control, instead of a tool for optimal freedom. Time and our action will tell. Concerning times.
Kenshin's avatar
Kenshin 4 months ago
Mars colony might buy you a few years before assimilated into a new solar governance (NSG).
Stacky's avatar
Stacky 4 months ago
They just want to know what you spend on, and how much you have