RT @NeerajKA: These people wrote a bill that was floating around Congress. It would've pretty much made every coin but their’s illegal. It was total trash
Also they got Jack Abramoff to help circulate it and were filming a reality show of the whole thing
The story: https://t.co/Wbc7wKdVmGhttps://t.co/KezBcOSTyH
Can you say "FedCoin"? No privacy nanny state coin. It basically means that privacy coins and CoinJoin cannot easily co-exist, and bitcoin would be at a disadvantage to existing bank accounts and cash.
To quote the [AML coin website](http://amlbitcoin.com/):
> AML Bitcoin’s users can read the AML Bitcoin block chain and participate in the transaction, verification and mining processes. AML Bitcoin’s key difference to Bitcoin is that only authorized users can remit AML Bitcoins. This regulated factor means **only approved individuals with authorization** from the AML Bitcoin Network can remit, record, and store AML Bitcoins at AML Bitcoin addresses. All authorized users are first registered on the AML Bitcoin system, they have gone through all stated terrorist watch lists, and have been checked against many criminal databases.
Preventing centralized control and corruption was the reason Bitcoin was invented. People who aren't involved with Bitcoin will always try to re-add it because they can't wrap their mind around something that can't be controlled.