However, if levels of adoption increase more
significantly, and if it appears that daily financial life can be conducted for long stretches
completely within a virtual currency environment, we may need to consider whether to apply a
more cash-like regulation to the virtual currency space.
This guy isn't the county Sheriff and it's people like him that will set the policy not Jennifer Shasky Calvery.
So, he's saying regulate more like cash. So, you agree, we are creating eCash.
You also have to agree, its regulation, not ban. Read the context again. Just in case you missed the meaning of what you were posting.
Man, when you get this, I can see you going out and selling everything you own to buy as much DRK as possible.
I don't know what so hard to understand. They shut down Silk Road. Seized the guys bitcoin, auctioned it off, and the guy is sitting in jail looking at spending the next couple decades in a Federal prison. The only reason they didn't go after Bitcoin was because they needed it to build their case due to the fact that they could track the transactions on the blockchain. If you take that ability away you are putting yourself in a position to be deemed as a threat. An anonymous cryptocurrency can never be regulated like cash due to it's main purpose. Bank records can be opened by subpoena. How do you subpoena something that doesn't exist like anonymous transactions?
If anyone thinks that the United States government isn't capable of shutting down a cryptocurrency they are mistaken.
Feds Use Patriot Act To Crack Down On Virtual Currency Exchange
http://americasfuture.org/feds-use-patriot-act-to-crack-down-on-virtual-currency-exchange/http://www.wmitchell.edu/lawreview/Volume40/documents/Middlebrook.pdfFinCEN acknowledges that the third-party exchange might appear to be conducting a bona fide purchase and thus entitled to an exemption, but notes that the safe harbor
does not apply when the only service being provided is money transmissionWhat does a masternode do other than transmit Darkcoin?
An administrator or an exchange that
transmits convertible virtual currency to another person or location would be required to register as an MSB.An administrator or exchanger that (1)
accepts and transmits a convertible virtual currency or (2) buys or sells convertible virtual currency, however, is a money transmitter unless an exemption
applies.102
It appears that FinCEN is fine with masternode operation as long as the administrator registers as an MSB.
How many masternode operators are registered as an MSB?