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Should The Bitcoin Block Chain Be Regulated? Juan Llanos Talks About Bitcoin Compliance In The US

January 4th, 2015 | by BTC News
Should The Bitcoin Block Chain Be Regulated? Juan Llanos Talks About Bitcoin Compliance In The US

Just as I realize that Bitcoin is such a world changing technology, government agencies and regulators are also realizing how risky it may be. It’s not about…


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  1. avatar Jeff Milton says:

    Vanos… you hit the nail on the head! I am that person… traveling
    around South America, using bitcoins rather then cash (much safer when you
    have to carry your money on you)… All was wonderful 🙂 until last week
    when I tried to get 1 bitcoin out of my wallet (to send to another
    address), and I was told all my coins were in lockdown until I validated
    myself with ID, utility bill, bank accounts, phone bills, permanant address
    and proof of residency… none of which I have (except for a US passport).
    I suddenly found myself penniless… and the folks am MtGox (the exchange I
    had my coins in) have only responded to my desparate pleas (and I really
    mean desparate… as I can not even get health care now, and I am old, with
    serious health issues) with the standard “Please verify yourself. Thank
    you. This case is now closed”.

    The real evil behind these AML laws is that are being aplied to financial
    institition sthat in fact do NOT have to answer to anyone, because the AML
    laws demand compience only for their own agenda, and there is no
    organization like teh SEC, for example that regulates these samne orgs that
    AML now controls.. So exchanges like MtGox (who is the only one I know
    that prohibits wallet-to-eallet transfers) have the requirement and/or
    freedom to do whatever they want t with your bitcoins, even if it vioates
    their own terms of serverm even it if is illegal… and there is no one
    they need to answer to.

    This makes Paypal a better bet than MtGox at this point.

    These new ‘laws’ even make it ‘illegal’ for my children to inherit my
    bicoins when I die (which may now be very soon)… Who gets thiose coins
    then? I will give you one guess!

    So I do not know who is left I can beg to. I have begged to MtGox (support
    and the CEO himself), the Bitcoin Foundation (the chairman and their legal

    Juan, as an AML gutu, perhaps yopu may have a suggestion of who I can beg
    to get my life back?

    Thank you 

  2. avatar Jeff Milton says:

    One more point… Juan you say

    “it’s not about government obstructionism, it’s about money laundering,
    terrorism financing, and the integrity of the financial system.”

    But this is 99% propaganda. I am not laundering money (HSBC does that), I
    am not a terrorist (a definition which includes ‘dead beat’ dads), and I am
    not threatening the financial system (The FED is doing a fine job of that
    without my help).

    I am obstructed from my bitcoins not because I am any of the above, but
    because I do not live the lifestyle the government approves of. Having a
    permanant address, a cell hone, a credit card, a bank account… these are
    life style choices. Having a passport is not. I have a passport… but I
    will never see my bitcoin again until I change the way I live, get an
    address, get a bank, get a phone, get a utility bill… because of AML
    regulation (as enforced my MtGox)

    And please explain to me how I can carry 10,000 in cash across the border,
    I can even mail money anonymously, but AML says I can not trasfer 1
    bitcoin, anywhere, for any reason, because I may be up to something evil.
    I can not even donate to the BCF!

    When bitcoins are treated the same as cash, they one can say the rules are
    no more obstructionist than cash.. but when any, every bitcoin transcation,
    no matter how small, or to whom, requires more verifcation that cash, or
    even credit card (or even bank wire transfer for that matter, as even they
    never asked me for a proof of residency), then regardless of what words are
    spoken, it is very obstructionist.

  3. avatar VanosEnigmA Enigmaisland says:

    Who controls the “controllers”??? the all-seeing eye of the illuminati
    pyramid? What happens if every month somebody lives in a different country,
    whom should he beg to control him???

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