These new regulations introduce massive regulatory burdens on existing projects, ban and criminalize current normal activities, restrain innovation an

New US Crypto Regulation Far More Invasive Than We Thought

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2021-09-25 02:30:05

These new regulations introduce massive regulatory burdens on existing projects, ban and criminalize current normal activities, restrain innovation and free enterprise, and even introduce a transparent central bank digital digital currency that redefines money as we know it!

According to United States representative Don Beyer, congress should incorporate “digital assets into existing financial regulatory structures.”1)“Press Release: Beyer Introduces New Legislation To Regulate Digital Assets,” (United States Congressman Don Beyer, Washington, July 28, 2021), accessed on September 6, 2021, https://beyer.house.gov/news/documentsingle.aspx?DocumentID=5307 As you will see, they intend to do just that.

This article provides an overview of the crypto legislation currently (September 2021) being put through US congress; it does not just look at the proposed bills, but rather at the wide range of laws that are to be amended.

Once all the puzzle pieces are put together, the big picture reveals shockingly strict regulations of crypto and a complete overhaul of the idea of “money.” This could have serious effects not only on the crypto sector, but also on the financial system as a whole.

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