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Thursday

12 December 2019

Governments Viewing Crypto as a Threat Will Be Left Behind - Bitcoin News

Governments Viewing Crypto as a Threat Will Be Left Behind - Bitcoin News


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In recent commentary at a New York blockchain conference, IRS Criminal Investigation Chief John Fort said the agency is now turning its focus to crypto ATMs and kiosks, as well as American users of foreign exchanges.

Crypto is a tool like any other, and those individuals and institutions refusing to recognize the value of decentralized, permissionless trade may soon find themselves relegated to the scrap heap of history.

In a recent interview with Bloomberg Law, IRS Criminal Investigation Chief John Fort shared his agency’s renewed focus on crypto ATMs and kiosks, stating: “In other words, if you can walk in, put cash in and get bitcoin out, obviously we’re interested potentially in the person using the kiosk and what the source of the funds is, but also in the operators of the kiosks.” Fort went on to further detail that the agency is targeting folks fleeing to foreign crypto exchanges as a result of U.S.

As he stated back in July: “This is indeed a national security issue.” Mnuchin further elaborated that “Cryptocurrencies such as bitcoin have been exploited to support billions of dollars of illicit activity like cyber crime, tax evasion, extortion, ransomware, illicit drugs, and human trafficking.” Wow.

Fort is not mistaken in pointing out that crypto ATMs can and do facilitate money laundering and criminal activity.

The mayor of Vancouver, Canada also notes the ATM threat and has been pushing for an outright ban on the over 70 machines currently installed in his city, with Canadian police commenting in June that bitcoin ATMs are “an ideal money-laundering vehicle.” A February, 2019 report from the Vancouver P.D.

Treasury officer Jennifer Fowler has affirmed, “Although virtual currencies are used for illicit transactions, the volume is small compared to the volume of illicit activity through traditional financial services.” It stands to reason then that maybe it’s corrupt individuals, and not bitcoin or ATMs, that are the problem.

Once any tech (whether from the private or public sector) becomes popular, attempts are made by this same state to suppress functionality.

It seems the folks called government are allowed their privacy in using such tools, but don’t want anyone else to have it.

Instead of allowing communities of individuals to self-regulate, these “special people” called government retard progress and use new tech for evil purposes such as spying (as revealed by Edward Snowden), killing innocent humans (endless warfare and the war on drugs), and extortion (taxation).

There is much good being done with the tool called bitcoin by everyday people, in spite of all the state’s propaganda.

Future generations will view attempts to regulate financial freedom with violent legislation much the same way as chattel slavery is viewed today.

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