31–40 of 402 posts
nobody asked them for this and even if this change ends up in bitcoin's core, it will ultimately fail to reach consensus
our wallets are none of your business, EU, get out!
Earlier quoted context omitted.
You're already not allowed to move undeclared cash across borders, not sure why you can't have a rule that you can't have undeclared crypto wallets. That does not ban cryptography, that just forces people to declare their wallets.
This is completely unenforceable.
For the people that it isn't enforceable for, they're stuck either moving countries, hodling eternally, or laundering the cash they get in return for their crypto assets.
Cash wouldn't be allowed to be invented today.
Cash mostly isn't allowed today, if you are transferring large enough sums of money. Probably for the better.
Earlier quoted context omitted.
You're already not allowed to move undeclared cash across borders, not sure why you can't have a rule that you can't have undeclared crypto wallets. That does not ban cryptography, that just forces people to declare their wallets.
I mean, you are allowed to take up to 10k euro in cash with you across borders without reporting it(in the EU anyway), so there is a provision in the law for "small" amounts of money. There is nothing like that here - even if you want to use crypto to send someone 1 euro for something, you will have to register.
i'm shocked how ignorant these lawmakers are, trying to gain control over a decentralised structure nobody asked them for this and even if this change ends up in bitcoin's core, it will ultimately fail to reach consensus our wallets are none of your business, EU, get out!
"The new rules would also prohibit providing anonymous crypto-asset wallets." That's awful. Hosted wallets are an invitation for "exchanges" to steal.
Earlier quoted context omitted.
You're already not allowed to move undeclared cash across borders, not sure why you can't have a rule that you can't have undeclared crypto wallets. That does not ban cryptography, that just forces people to declare their wallets.
I mean, you are allowed to take up to 10k euro in cash with you across borders without reporting it(in the EU anyway), so there is a provision in the law for "small" amounts of money. There is nothing like that here - even if you want to use crypto to send someone 1 euro for something, you will have to register.
Earlier quoted context omitted.
I mean, you are allowed to take up to 10k euro in cash with you across borders without reporting it(in the EU anyway), so there is a provision in the law for "small" amounts of money. There is nothing like that here - even if you want to use crypto to send someone 1 euro for something, you will have to register.
The 10K limit is just there to reduce admin cost. A Blockchain can be datained continuously at almost no cost
Earlier quoted context omitted.
Cash mostly isn't allowed today, if you are transferring large enough sums of money. Probably for the better.
Source of such bold claim? You can absolutely pay cash for (almost) anything. Even if you're buying a house, you can pay cash if both sides agree to it, and the solicitors check everything is legit and you can prove where you got the money from - but there is completely nothing in law that would prohibit such transaction from happening.
i'm shocked how ignorant these lawmakers are, trying to gain control over a decentralised structure nobody asked them for this and even if this change ends up in bitcoin's core, it will ultimately fail to reach consensus our wallets are none of your business, EU, get out!
From the bureaucrat's point of view, all of your assets are "yours" contingent only on the goodwill of the relevant regulations. Parable of the scorpion and turtle; expect neither more nor less.