Crypto is still a drop in the ocean compared to money laundering using fiat. That makes me feel there are other agendas behind this bill and obviously they want to stop any traction crypto might get…
I think its a good thing. If this country is ever going to be a global hub for crypto there has to be a legal frame work to protect investments and to tackle crime
Right now its nigh on the wild west for anything crypto
Yeah in many ways it is because it will help to legitimize crypto anyway. It might only allow the few to operate who are willing to follow certain rules and all the dodgy projects could be banned. Doing it under the guise of money laundering is kinda dumb though since the mainstream economy has many times the amount of money being laundered through it . I think things should be done to protect people who use crypto the same way as banks sometimes do. Have some account protection and some way to recover lost funds etc.
I use Barclays to buy crypto , via coinbase.
I cant see why i cant keep my crypto at Barclays. Have them act the same way as they do now but with crypto as the asset.
That would make everything easier including taxes