New US law is supposed to harm Bitcoin

in #bitcoin7 years ago

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The US government is seeking a bill that will oblige citizens to enter and leave the US "monetary instruments" with a total value of more than $ 10,000. If a citizen fails to comply with this obligation, imprisonment of up to 10 years and confiscation of the monetary instruments are in discussion.

Since cryptocoins can be traded with a smartphone, they would currently fall under the definition of the term "monetary instruments". The US government is also struggling against our cash and digital currencies.