submitted by /u/_ich_
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Friday, 25 December 2020
FinCEN Regulation MegaThread - Make Your Voice Heard - Wish Mnuchin a Merry Christmas & Happy New Year
This thread will be stickied until January 3rd - which is also the deadline for comment on the new FinCEN rules & regulations.
Dear r/Bitcoin
The regulators are here, and they want to make things more difficult for the ecosystem. Make no mistake, the new proposed FinCEN rules are insignificant in the grand scheme of things. But that doesn’t mean we shouldn’t give them Hell for trying to sneak in some last minute shenanigans, at the 11th hour, of an outgoing administration, during Christmas. (A cowardly act, no matter your political affiliation).
This subreddit has more than 1,840,000 subscribers, many of whom are lawful American citizens, voters, taxpayers & Bitcoin enthusiasts.
So make some noise, but be respectful and professional if and when you do.
Be sure to let them know that it's not worth risking Republican control of the Senate over Mnuchin's personnel vendetta against Bitcoin.
At the time of posting this thread there have been 284 comments made. Lets get that to 2100.
This thread will help host information & options for community members to make their voices heard on these new draconian rules. If you have any ideas on this action, please leave a comment. I’ll try to update it with more options and information as they become available.
Some good background on this:
Everyone Should read this one: https://twitter.com/jchervinsky/status/1340135040399904770
More Background: https://twitter.com/BlockchainAssn/status/1340061588448022530
The Proposed FinCEN rules & regulations:
https://public-inspection.federalregister.gov/2020-28437.pdf
Make Your Voice Heard, Comment on the New Rules:
Press the “comment Now!” button at the top right to leave a comment, keep it professional:
https://www.regulations.gov/document?D=FINCEN_FRDOC_0001-0121
Comments Can also be Submitted here:
Letter Template to Send Mnuchin Your Thoughts, Keep it Professional Please:
https://coincenter.good.do/fincen/fincen-email/
You can also submit your Feedback to: Policy Division, Financial Crimes Enforcement Network, P.O. Box 39, Vienna, VA 22183. Refer to Docket Number FINCEN-2020-0020 RIN number 1506-AB47
AND: Kenneth A. Blanco Director Financial Crimes Enforcement Network via https://www.fincen.gov/contact
Rumor is, the Office of Management and Budget has the final say on these FinCEN rules, so be sure to submit a copy of your comments there too:
https://www.whitehouse.gov/omb/
https://twitter.com/RussVought45
Closing Thoughts and Strategy:
It's probably more important to leave a comment on the actual proposed rules, then to send Mnuchin a letter he won't read. But both are encouraged. In addition, the Office of Management and Budget angle might be the best place to target. Please submit your comments respectfully and professionally to as many of the available avenues for comment and feedback as possible. But do not spam or be disrespectful in your conduct. Please also contact your local senator and congressman for wider effect.
Merry Christmas and Happy Holidays Everyone.
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Am I crazy if more than half of my net worth is in bitcoin?
What if 52% of all my assets were bitcoin? In your opinion, is that smart or dumb? What % of your net worth is in bitcoin and what other assets do you own?
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There are only 589 comments on FinCENs horrible new proposed rule of "wallet registrations" for self-custodial wallets. AMERICANS: TELL THEM WHY IT SHOULDNT BE ALLOWED, BEFORE JAN 4. Make sure to read the extremely important tips in this post 1st. Yes, they do read & carefully consider every comment
If you're from another country, do not comment. It's for Americans only.
It's also very important that you read all of the tips in this thread first, before commenting. Your comment will be read by lawyers and regulators. Poorly written comments are worse than no comments at all. At minimum, every American can use the template provided in the above thread (tweet #13), or, if you are knowledgeable, you can leave your well-written comment without a template directly with FinCEN here (click the green "Submit a formal comment" button).
After you have done that, you can (and should) also send a letter directly to Treasury Secretary Mnuchin here (comes with an optional template).
If anyone is interested, the CoinCenter spent 3 days writing a 34 page detailed analysis of why this rule is so flawed; a short summary of which can be found here (full 34 pages here). The proposed rule includes such idiocy as providing the name and physical address of the person who controls the wallet you're sending to when withdrawing over $3,000 from an exchange.
The deadline for submissions is January 4th. If you use a template, make it your own. A simple way to make a template more personalized is to say something like "My name is XX and everything in the below letter I agree with. I am submitting this because everything in it is spot on and it will absolutely affect the sphere negatively, especially seeing how other countries are already ahead of the US. It will affect me personally because XX." etc. etc.
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source https://www.reddit.com/r/btc/comments/kjsw42/there_are_only_589_comments_on_fincens_horrible/
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