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Crypto in the USA dead after Biden regime passes new bill with massive widespread regulation

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The Biden regime has just announced it is signing the new "infrastructure bill" into law, with bipartisan support.

Contained within the bill are several new regulations regarding cryptocurrency, notably;

1. A new requirement for mining pools, exchanges, and other "brokers" (anyone who exchanges cryptocurrency between 2 people) to report on their identity and the identity of the people involved. This will effectively kill anonymous use of cryptocurrencies (legally).

2. A new section of the bill targeted at criminalizing private end-to-end encryption. The bill specifically sites "unlawful use of technology to facilitate crime" and will introduce laws to criminalize the use of it.

Authoritarianism fans regard this as a big win for penalizing privacy, and mass-censorship, and are hopeful for the future of complete government control, while others are disappointing in the biden regimes criminalization of innocent civillians.

They say that prohibiting cryptocurrency will immediately put an end to the internet drug trade, as its a well known fact that criminalizing things makes people stop doing them, thats why prohibition worked so well in the 1920s.
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That is crazy!!! O_O
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soyface
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>They say that prohibiting cryptocurrency will immediately put an end to the internet drug trade, as its a well known fact that criminalizing things makes people stop doing them, thats why prohibition worked so well in the 1920s.

soy argument. there was a massive culture around alcohol back then with people drinking 2-3 times the amount they do now so its obvious that it would go bad. im not sure how many americans use crypto but it is much less. this is a bad idea anyway but the "muh prohibition" argument is stupid most of the time it is used (・∀・)


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