Michael Matulef on Nostr: "Ultimately, this is a further monumental leap in the U.S. governments attempts to ...

"Ultimately, this is a further monumental leap in the U.S. governments attempts to prevent the usage of privacy tools in the cryptocurrency space. This crackdown, especially with the broad definitions imposed by FinCEN here, will kick-start the bifurcation of cryptocurrencies into two worlds — white-market and black-market money.

The cryptocurrency world will split into two separate economies, one that functions as an add-on to the traditional finance and compliance regime, and one that acts as an independent and self-sustaining circular economy."

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nevent1q…pa9g

FinCEN is trying to bring the PATRIOT Act to cryptocurrency ‼️

We broke the proposal down in detail, answered all your questions, and laid out what it means for each of us.

A special thank you to L0laL33tz (npub1mzn…6mak) for bringing some incredibly insightful comments!

Read here 👇

https://freedom.tech/patriot-act-comes-to-cryptocurrency/