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During recent months everybody wants to regulate and people using it.

Look he's just mad that USD won't be the primary tool for criminals/terrorists in the future. He wants USD to maintain it's dominance in criminal/terrorists circles.

As someone who actually does fight against human trafficking in my day job, I'd point out this guy is clueless and doing what he asks for would make absolutely no difference whatever when it comes to trafficking. "Oh good, we can kidnap girls and sell them now that Bitcoin has been invented" said no slaver, ever.

These are "Miners" not "Minors".

Whats this expert say about Epstein???

Burn US dollars to stop prostitution!

Ask him about how much the catholic church or epstein use bitcoin. Yes I use present tense. If you think he is dead then I have a bridge to sell you

Human trafficking earns profits of roughly $150 billion a year for traffickers. Not to talk about revenue.

“The trend toward decentralized and autonomous systems threatens our ability to control access to the U.S. financial system,” he said.

A country can remove itself from bitcoin, but it is a far more difficult to remove bitcoin from that country.

What does mining have to do with it?

Last time I checked, Epstein and Weinstein weren't using bitcoin.

Well this is a gold mine of blockchain tech ignorance.

David Murray, recommended that Congress create a new class of regulated financial institutions known as “virtual asset transaction validators,” i.e. crypto miners..

Transactions are validated by the network, that's the mempool. Miners choose what to include in the blocks.

...miners must, at the very least, govern who can participate in networks, and vet any issuers, exchanges or custodians they serve.

It's open source, and miners have no say in who can and can not participate in the network. Perhaps American miners could exclude transactions from their blocks. Everyone else will include them though.

wonder what human traffickers have been using since the dawn of fucking mankind until the end of 2009.. but yes, lets ban crypto or heavily regulate it cause it challenges the central banking system

Was wondering why bitcoin started jumping up again today.

“The internet is used for all kinds of crime, but if in 1998 we said ‘let’s ban the internet because it’s used for crime,’ the U.S. would have suffered.”

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Van Valkenburgh wins this argument.

Eth miners should be regulated. They are issuing an unregistered security.

He can't do his fucking job, so he blames "crypto". Fire him. Hire somebody who can stop the human traffickers.

“The trend toward decentralized and autonomous systems threatens our ability to control access to the U.S. financial system”

^ The actual reason is also in his testimony. Make no mistake, attempting to regulate miners in the way he wants to do it, would have the same effect as a ban. It would not stop Bitcoin, but it would completely fuck the industry in America.

Another thing, really wish people in this sub wouldn't automatically downvote articles like this. We must be aware of the ways they're trying to fuck us so we can prepare. They're sneaky. They're using things like this to try and ban permission-less blockchains.