The downsides listed are just cryptocurrency lobbyist talking points.
“Require new surveillance of everyday users of cryptocurrency;”
What everyday users? There’s nothing you can do with this stuff except speculate, gamble and build obfuscated Ponzis.
”Force software creators and others who do not custody cryptocurrency for their users to implement cumbersome surveillance systems or stop offering services in the United States;”
Not offering these services seems like a positive outcome.
”Create more honeypots of private information about cryptocurrency users that could attract malicious actors;”
Losing your money to malicious actors is a standard part of the crypto experience already. Endless scams and ransomware don’t seem to worry the author.
”Create more legal complexity to developing blockchain projects or verifying transactions in the United States—likely leading to more innovation moving overseas.”
Ah, blockchain innovation, which is somehow so vital to the shining future of mankind, yet has utterly failed to produce anything of technological or economic value with the billions already invested. Overseas sounds like a fine place to continue this pseudoinnovation charade.
“Require new surveillance of everyday users of cryptocurrency;”
What everyday users? There’s nothing you can do with this stuff except speculate, gamble and build obfuscated Ponzis.
”Force software creators and others who do not custody cryptocurrency for their users to implement cumbersome surveillance systems or stop offering services in the United States;”
Not offering these services seems like a positive outcome.
”Create more honeypots of private information about cryptocurrency users that could attract malicious actors;”
Losing your money to malicious actors is a standard part of the crypto experience already. Endless scams and ransomware don’t seem to worry the author.
”Create more legal complexity to developing blockchain projects or verifying transactions in the United States—likely leading to more innovation moving overseas.”
Ah, blockchain innovation, which is somehow so vital to the shining future of mankind, yet has utterly failed to produce anything of technological or economic value with the billions already invested. Overseas sounds like a fine place to continue this pseudoinnovation charade.