RT / The US Senate is reportedly considering a bill to outlaw the concealment of ownership of digital currency accounts by American citizens domestically and abroad. The Senate Judiciary Committee says existing anti-money laundering (AML) laws need to be modernized.
The bill will amend the definition of ‘financial account’ and ‘financial institution’ to include cryptocurrencies and digital exchanges.
JUST IN: #Bitcoin blasts past $11,700 https://t.co/WFscCZzR0a pic.twitter.com/JSBVfmesrz
— RT (@RT_com) December 3, 2017 Experts warn that if the law is passed, it will likely have far-reaching effects for digital currencies’ users both in the US and abroad.
“It’s bad… I think it’s going to end in a very confrontational way between bitcoin—even bitcoin holders and users—and the US Government,” said Tone Vays, the head of research at BraveNewCoin and a 10-year Wall Street veteran.
The issue of virtual currencies is interesting, according to John A. Cassara, board member of the Foundation for Defense of Democracies.
Read more China defends cryptocurrency crackdown as fight against capital flight “I’m just glad I had my career when I did because I don’t know what I’d do trying to follow the money when it comes to digital currencies, it’s extremely, extremely challenging…I think if you look at the metrics, the metrics suggest today [that] digital currencies are a small fraction of the threat that we face…,” he said in his testimony during the bill hearing.
“We’re right at a crossroads, and it’s going to be very, very interesting to see what goes forward,” Cassara added.
According to media reports, the White House has been actively monitoring cryptocurrencies and ramping up regulatory policies toward them. In June, New York Representative Kathleen Rice asked the government to research the role of virtual currencies in terrorism.
The US Securities and Exchange Commission (SEC) has ruled that digital coins and tokens from ICOs are considered securities and must be subject to federal securities laws. That means it will be not as easy for US companies to hold an ICO or for US citizens to participate as they have to be registered and comply with securities laws.
CARACAS.- La espera terminó y los Rays de Tampa Bay, en teoría, reforzaron la posición que menos le estaba aportando a la ofensiva con el regreso del criollo Wilson Ramos a las mayores. ?Estamos felices por tener a Wilson Ramos con nosotros? , dijo Kevin Cash a MLB.com. ?Me imagino que probablemente tenía algunas inquietudes…
La compraventa de inmuebles como Torre Agbar, Xanadú y el Edificio España aumenta un 70% la inversión en el primer semestre hasta los 6.000 millones de euros. La inversión inmobiliaria vuelve a registrar cifras récord en el mercado español. A falta de apenas cuatro días del cierre del semestre, la compraventa de edificios y solares…
san fernando Prime Minister Dr Keith Rowley prayed with members of the Muslim community and distributed zakat (charity) to the needy as he celebrated Eid-ul-Fitr at two masjids in San Fernando yesterday. He attended the Eid services on an invitation from Minister of Local Government Kazim Hosein, who is also referred to as a…
gasparillo The mother of a disabled child was shot dead inside her apartment in Gasparillo yesterday. Ornella Philips, 28, was shot once in the chest. Her body was discovered lying in the living room around 10 a.m. The country’s murder toll now stands at 243. Her eight-year-old daughter, Kayla, has cerebral palsy and depends…
ISTANBUL (AP): Turkish police stopped activists for lesbian, gay, bisexual, trans and intersex rights from gathering in large numbers for an LGBT Pride event in Istanbul yesterday, but smaller groups made impromptu press statements, defying a ban imposed by the governor. Organisers of the 2017 Istanbul LGBTI+ Pride had vowed to march in central Taksim…
LONDON (AP): The list of high-rise apartment towers in Britain that have failed fire-safety tests grew to 60, officials said yesterday, revealing the mounting challenge the government faces in the aftermath of London’s Grenfell Tower fire tragedy. All of the buildings for which external cladding samples were so far submitted failed combustibility tests, Communities Secretary…
BAHAWALPUR (AP): Alerted by an announcement over a mosque’s loudspeaker that an overturned tanker truck had sprung a leak, scores of villagers raced to the scene with fuel containers yesterday to gather the oil. Then the wreck exploded, engulfing people in flames as they screamed in terror. At least 153 men, women and children were…
WASHINGTON (AP): Making a final push, United States President Donald Trump said he doesn’t think congressional Republicans are “that far off” on a health overhaul to replace “the dead carcass of Obamacare”. Expressing frustration, he complained about “the level of hostility” in government and wondered why both parties can’t work together on the Senate bill…
While reliving the horrors experienced by so many families after another spate of bizarre violence across the country last week, I couldn’t help but picture Tourism Minister Ed Bartlett’s rictus grin plastered on television screens while the elderly and even suckling babes were being gruesomely slaughtered inside their homes. While the rest of us were…
- 11 December, 2017 Steve Lyston | The wind of change and value of life
- 11 December, 2017 'Pine and Ginger' washes sorrows away – Christmas drink helps create cross-genre song
- 11 December, 2017 Michael Abrahams | Don't get burnt by gaslighting
- 11 December, 2017 Light, Cameras and Candles This Christmas
- 11 December, 2017 Suitable Fit – Tips from Dexter Huxtable
- 11 December, 2017 Keneea Linton's 2017 Holiday Collection
- 11 December, 2017 New evacuations as huge Southern California fire flares up
- 11 December, 2017 Reject 'free-for-all' culture, says lawyer – Senior prosecutor lashes out at corruption, hustler culture
- 11 December, 2017 Miller relieved to end goal drought
- 11 December, 2017 Coley confirms move to Iranian club