Coin Center's case challenging Congress’s expansion of Section 6050I of the tax code was dismissed yesterday.
You should be paying attention, because this will impose mass surveillance on ordinary Americans, no CBDC required…
Remember that sneaky addition to Biden’s Infrastructure Bill in 2021 that most people forgot about?
Now that Coin Center’s case was dismissed, on Jan 1, 2024 this law will require anyone receiving crypto / #Bitcoin payments > $10,000 to report to the transaction to the government AND report the personally identifiable information of the sender as well…
No warrant required.
From Coin Center:
“The reporting mandate would force Americans using cryptocurrency to share intrusive details about themselves, both with each other and with the federal government. Under the terms of the mandate, everyday senders and receivers of cryptocurrency would be forced to reveal their names, Social Security numbers, home addresses, and other sensitive personal identifying information.
Receivers would then have FIFTEEN DAYS to report all of that information about both parties, along with the details of their transactions, to the federal government.
The 2021 amendment’s reporting mandate would also require the receivers to maintain records of their transactions and the personal identifying information of senders for five years.”
This is a blatantly unconstitutional move by the Biden Administration.
The question is: will any of the pro-Bitcoin candidates speak up about this?
https://www.coincenter.org/app/uploads/2022/06/1-Complaint.pdf
walker
npub1cj…wrz4u
2023-07-21 14:27:51
Author Public Key
npub1cj8znuztfqkvq89pl8hceph0svvvqk0qay6nydgk9uyq7fhpfsgsqwrz4uPublished at
2023-07-21 14:27:51Event JSON
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"content": "Coin Center's case challenging Congress’s expansion of Section 6050I of the tax code was dismissed yesterday. \n\nYou should be paying attention, because this will impose mass surveillance on ordinary Americans, no CBDC required…\n\nRemember that sneaky addition to Biden’s Infrastructure Bill in 2021 that most people forgot about? \n\nNow that Coin Center’s case was dismissed, on Jan 1, 2024 this law will require anyone receiving crypto / #Bitcoin payments \u003e $10,000 to report to the transaction to the government AND report the personally identifiable information of the sender as well…\n\nNo warrant required.\n\nFrom Coin Center: \n\n“The reporting mandate would force Americans using cryptocurrency to share intrusive details about themselves, both with each other and with the federal government. Under the terms of the mandate, everyday senders and receivers of cryptocurrency would be forced to reveal their names, Social Security numbers, home addresses, and other sensitive personal identifying information.\n\nReceivers would then have FIFTEEN DAYS to report all of that information about both parties, along with the details of their transactions, to the federal government.\n\nThe 2021 amendment’s reporting mandate would also require the receivers to maintain records of their transactions and the personal identifying information of senders for five years.”\n\nThis is a blatantly unconstitutional move by the Biden Administration. \n\nThe question is: will any of the pro-Bitcoin candidates speak up about this?\n\nhttps://www.coincenter.org/app/uploads/2022/06/1-Complaint.pdf",
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