Members of the US Congress Plan to Create a Compliant Version of Bitcoin

http://www.newsbtc.com/2017/08/19/members-us-congress-plan-create-compliant-version-bitcoin/

by elmar • 9 years ago

21 19 9 years ago

pmorici2• 9 years ago

Sounds like they might be trying to push a special interest bill. Wonder what company has a "compliant" crypto currency waiting in the wings while they try to get this law passed to give it an advantage in the marketplace.

ringaroundthetx• 9 years ago

let's see:

- Blockstream pushing AML complaint payment channels over the Lightning Network (bitcoin, any bitcoin fork)

- Goldman Sachs who has a filed a patent on basically a bitcoin-clone

- Ripple

- maybe Waves

kobeya5• 9 years ago

- Blockstream pushing AML complaint payment channels over the Lightning Network (bitcoin, any bitcoin fork)

Whaaaaat? What are you talking about here? I've done a bunch of google searches and I can't find any information about what you're talking about.

The idea that Blockstream, who does more work on improving frangibility than anyone else in this space, would be involved in an AML/KYC compliant overlay network is crazy.

kobeya5• 9 years ago

This would be a new digital currency, by the look of things, and not Bitcoin itself. Moreover Bitcoin itself is not of interest to Washington right now.

Well, the good thing is that Bitcoin doesn't need their permission. Indeed, that is quite the point.

fweespeech4• 9 years ago

It does to convert from Bitcoin to Fiat currency.

That conversion gets blocked in an entire country/currency and its effectively useless unless you travel.

PierreRochard• 9 years ago

That seems to imply that there are no grey or black markets for currencies. This is contrary to what has been observed in history and in some countries today.

kobeya5• 9 years ago

It does to convert from Bitcoin to Fiat currency.

Why do that if everyone accepts bitcoin?

And in any case, no you don't. Not as long as cash exists.

gwbas1c• 9 years ago

Returning a 503, can anyone link to a mirror?

T-A• 9 years ago

Just a confused and nearly content-free comment on

http://dailycaller.com/2017/08/19/congress-considering-valid...

which would be a better link.

johnrichardson• 9 years ago

Also see: http://dailycaller.com/2017/08/19/congress-considering-valid...

I've been expecting digital currencies to be co-opted (or at least, try to be co-opted) by centralized authorities for a while now. Looks like we're seeing the first genuine attempt.

crisopolis• 9 years ago

Members of the US Congress can't even make a healthcare plan what makes you think this will go anywhere?

Members of the US Congress Plan to Create a Compliant Version of Bitcoin

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