❕NEWS - Department of the Treasury could increase vigilance on Bitcoin | BeerMoneyForum.com

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onlyprofits

Emerald Member

Dec 20, 2020

The US Department of the Treasury is introducing a new rule on transaction reporting for money service companies (MSB) that interact with self-hosted crypto wallets. As scheduled, they would have to submit a report if the transaction exceeds a pre-established threshold, many believe that this threshold should be in the order of $ 10,000.
What do you think about this possible regulation?

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Brain

Sapphire Member

Dec 24, 2020

I don't think any regulation is to undermine whatever is already on ground if any thing it is to boost more security and regularization. Si for me it isn't a bad idea and the benefit will be achieved very soon

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Josemendez

Ruby Member

Dec 24, 2020

onlyprofits said:
The US Department of the Treasury is introducing a new rule on transaction reporting for money service companies (MSB) that interact with self-hosted crypto wallets. As scheduled, they would have to submit a report if the transaction exceeds a pre-established threshold, many believe that this threshold should be in the order of $ 10,000.
What do you think about this possible regulation?

I think it is a good idea to an extent as this will help reduce money laundering by scammers ,and also improve security of cryptocurrency transactions

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onlyprofits

Emerald Member

Dec 26, 2020

Josemendez said:
I think it is a good idea to an extent as this will help reduce money laundering by scammers ,and also improve security of cryptocurrency transactions

All legislation on cryptocurrencies is good, as long as its objective is really to regulate its activity to prevent crimes such as money laundering from being committed