Now, I have seen stupid bills proposed by this house before, but this is the absolute most ridiculous piece of legislation I have ever seen.
I agree, this is beyond insanity. It's like asking from a 9-year old to propose a piece of legislation that will prevent money laundering. It's clear that they're not trying to ban it anymore. They want to take advantage of it, by illegalizing any sort of privacy enhancement the user can get. It's like trying to turn Bitcoin into a CBDC.
Did they forget the step in which they make mixing illegal first?
Haven't they passed such law in the US already? I remember reading about "unhosted wallets" being considered illicit until proven otherwise.