Bitcoin, Mnuchin, and Self-Custody

In this video, I discuss the new Bitcoin self-custody regulations that are being proposed by Steve Mnuchin and the US Treasury. This is a rushed, 11th hour attempt by an outgoing administration to try to damage Bitcoin. It will almost certainly be overturned by a court in early 2021 if passed.

KYC/AML regulations are already in place at US crypto exchanges to prevent money laundering. This new regulation adds nothing, especially since there are easy ways to bypass it, by first sending your Bitcoin off the exchange to a KYC address, and from there to wherever you want to.

Mnuchin is part of the fiat system, bred in a tank at Goldman, nourished by the money printers at every stage of his career, and now out to try to hurt honest Bitcoiners who are looking for a safe haven for their wealth, where it cannot be debased by banksters and central bankers.

Mnuchin fails to disclose $100 million in offshore tax haven:
https://www.yahoo.com/gma/trumps-treasury-secretary-pick-steven-mnuchin-says-tax-173509620.html

Daddy got Stevie a nice job at Goldman:
https://en.wikipedia.org/wiki/Steven_Mnuchin

Perhaps you never knew that investment bankers are doing "God's work":
https://www.wsj.com/articles/BL-MB-13358

It can be hugely profitable to plunder your own clients:
https://www.wsj.com/articles/malaysia-and-goldman-sachs-reach-3-9-billion-settlement-over-1mdb-dispute-11595589269

Cantillon Effect:
https://en.wikipedia.org/wiki/Richard_Cantillon#Monetary_theory

Similar regulations already in effect in the Netherlands:
https://twitter.com/100trillionUSD/status/1340063326202703872

US Treasury can't even figure out how to keep itself safe, much less the American people:
https://time.com/5921218/russia-hackers-treasury-commerce/

The first Bitcoin Senator:
https://www.coindesk.com/cynthia-lummis-explain-btc-congress

Not investment advice! Consult a financial advisor.

US Treasury proposes new KYC rules:
https://www.coindesk.com/fincen-proposes-kyc-rules-for-crypto-wallets

https://home.treasury.gov/news/press-releases/sm1216

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#Bitcoin
#BitcoinNews
#Mnuchin


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