12/10/2020 :
On Wednesday December 9th 2020 Congressman Warren Davidson (OH) along with Rep. Tom Emmer (MN) , Rep. Ted Budd (NC) and Rep. Scott Perry (PA) sent a letter to Steve Mnuchin raising concern about his rumored self hosted wallet regulations.
"In a statement published online, Davidson said that “before Treasury issues midnight rules on the regulation of self-hosted wallets, Secretary Mnuchin should come to the Peoples’ House and speak to representatives about what his regulations would do.”
Read the letter here :
https://twitter.com/WarrenDavidson/status/1336804544320327683?s=19
So it Begins :
In my previous CryptoVS blogpost on @Publish0X titled Initiative Q : Bucking the System I touched on the drastic changes coming to the current monetary system, and how these changes are going to have a major impact on the way the average citizen will be able to participate in the new global economy . When I started researching for that article I came across a few things that really scared the crap out of me.
The first being the "Currency Restrictions on the Use of Cash Bill 2019 " that Australia was set to put into effect January of 2021. Fortunately it was put on the back burner and voted down by their Senate due to the ongoing Covid-19 pandemic. Thankfully this should give Australians time to organize, and push back against this insanity before they try to introduce it again in the future.
If you want to know what scared me so bad , please , read on.
"Australians could face two-year jail sentences and fines of up to $25,200 under proposed laws that limit the use of cash to $10,000 — a move some groups argue would create an Orwellian state by giving authorities greater control over people's finances."
If you aren't familiar with the bill you can read the details here :
Most crypto enthusiasts living in the United States probably recognize by now that every cryptocurrency exchange legally operating in the US already has strict Know Your Customer policies they must follow; especially if you want to link to a US bank account , and cash out your cryptocurrency into fiat dollars.
Yes, KYC sucks, and we should have never let it get that far, but that fight will have to wait for another day. Right now we need to concentrate on the bills they haven't snuck into law yet .
What Mnuchin, and his banker brethren are proposing goes way beyond KYC. What these regulations propose can only be described as the TMS law, or "Track Monitor and Surveil every transaction a US citizen makes online through their digital wallet" regulation.
What they are trying to implement here is akin to putting a tracking device in every leather wallet you've ever owned and having that wallet report every penny you ever spend, send, or save to the US federal government. For your safety of course...........
It's even worse than that if you actually read what they are proposing. That's just the simplest way I could think to describe it.
All of the relevant links will provided in the resource section at the bottom of the page. I suggest reading through them for yourself , and then to get in touch with your representative to see where they stand on this issue.
So, how can they get away with this you ask?
They can't if you get you involved , and help spread the word across the crypto community.
Two things you can do immediately from the comfort of your own home is to help educate the crypto illiterate on your social media pages, and write your representatives to let them know where you stand on these Orwellian laws.
A law like this literally goes against every protection granted to a US citizen under the 4th Amendment to the United States Constitution. Thankfully this group of representatives decided to proactively challenge these money changers , and call them out on their sneaky tactics.
Ultimately it is going to be up to the average US citizen to put the pressure on their representatives , and not let these regulations go unchallenged.
If you think things are going to change because Donald Trump is leaving office you've got another thing coming. Just because Joe Biden has brought on a few crypto friendly appointments to his incoming administration it doesn't mean these unelected bureaucrats like Mnuchin are going anywhere. They have been entrenched in our system for decades and they will continue to be there for decades to come if you don't get involved.
Mnuchin is " Yale Royalty " and a member of the Skull & Bones Society. If you don't know why that is of importance then you should take a little time to research who they are, and their history in American politics.
As an American you owe it to yourself, and the country to protect our constitutional system of government from these leeches like Steve Mnuchin. It may seem like a David vs Goliath scenario, but you have more power than you think.
With modern technology , getting in touch with your representative or spreading a message to millions of people has never been easier. I will link to the website where you can look up who your representative is by zip code depending on what state you reside in. Please , when you finish reading this take the time to contact them, and ask them what they think about this issue.
Trust me, I'm not naive as to why these representatives are doing this. By reading the headline you might get the impression that these brave souls are challenging the bankers, and standing up for their constituents.
Unfortunately you would probably be wrong. No surprise there, right ? It is the US government we are dealing with here after all. Just read the letters opening statement to see what they are really concerned with protecting :
"According to Wednesday’s letter, this potential regulation would “hinder American leadership,” preclude U.S. actors from participating in the space, and “undermine the Treasury Department from stopping illicit actors from exploiting the financial system. "
So what they are trying to ever so subtlety convey is find a way to exclude us ( the US leadership ) , and we can probably work with you to screw the citizens.
The openness that these banking oligarchs have with their plans is not even the most concerning part of this whole thing anymore; It's the total disengagement of the American people when it comes to challenging these illegal edicts. We need citizens that will engage their elected officials, and hold them accountable when it comes to protecting our privacy.
The general US population is blockchain ignorant, The only thing they know about cryptocurrencies is what the mainstream media has programmed them to know . Mention Bitcoin and they immediately think of Pirate Bay, the darkweb, illicit drug deals, money laundering, and Mt. Gox. The reason this is so troublesome is because these are the lemmings that will blindly support this kind of legislation to the detriment of the nation as a whole.
We need as many people as possible to push back against these modern day Robber Barons.
They used the Federal Reserve Act to steal America's gold in the 1930's and now here they are again almost a century later coming for your digital gold. The question this time is , what are you going to do about it ?
Find your Representative Here :
https://www.house.gov/representatives/find-your-representative
*All graphics are either credited in the resource section or created by me using free tools available on the Google Play Store and here at Publish0x
See my previous post here :
https://www.publish0x.com/cryptovs/initiative-q-bucking-the-system-xomgnzv
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