California spearheads the new round of currency-freedom attacks with new law imposing currency controls on cryptocurrency, limiting daily US dollar, as the US goes in for the innovation kill

submitted by SoCo from (msn.com)

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[–]topiary2 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

We all saw this coming. Imagine the rage that filled these lawmakers when plenty of poors became millionaires during the last bull run.

[–]WoodyWoodPecker 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

Where can you sign up for cryptocurrency without giving them your private information and cell phone number? Do they want a social security number?

[–]SoCo[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

The US and EU have massively crushed crypto in the last couple years with their big communism push. In the US, you can only only legally buy crypto currency anonymously with cash, from a person-to-person purchase of reasonably sized amounts. This is typically called OTC (over the counter) sale. There were many websites to help people meet up for OTC sales, famously localbitcoins.com ... yet even they have had to comply to the squeeze.

This person must not make a significant amount of sales, due to new extremely strict and authoritarian broker rules, which would call a grocery store cashier a stock broker, beholden to data collection and submission of financial documentation, if applied in an unbiased manor.

Otherwise, communistic know-your-customer and forced limitations to your financial freedom, have all but crushed anonymous access to purchasing ~crypto currency~ all forms of money, by smashing the place you buy cryptocurrencies with cash, with authoritarian regulations.

Exchanges and crypto purchasing otherwise frequently requires standard banking info and a picture of the front and back of your drivers license. I can't remember giving my social security number, but I would be surprised if the last four digits weren't asked for.

The requirements still vary from place to place, though, so you can still shop a bit for verification requirements.