Obama Moves to Outlaw Bitcoin

(THE FIREWALL)   Reuters is credited with breaking this story: EXCLUSIVE – U.S. to let spy agencies scour Americans’ finances

The FBI has quietly been given access to the Treasury’s Financial Crimes Enforcement Network (FinCEN).

(Reuters) – The Obama administration is drawing up plans to give all U.S. spy agencies full access to a massive database that contains financial data on American citizens and others who bank in the country, according to a Treasury Department document seen by Reuters.

FROM:  bitcoinmoney.com:  Director Freis: FinCEN’s New rule adaptable to ‘internet system’ 

The new rule was designed to be technology neutral and is meant to be adaptable to a range of products, such as a plastic card, an internet system, or a mobile phone network.

[Criteria that determines if a product is subject to the new rules include] whether the product is re-loadable, can be transferred to other consumers, and, […] can be used to transfer funds outside the United States.

We will be publishing [a] proposal for public comment very soon [on the requirement that tangible prepaid access is declared] when it is transported across a border, similar to the existing declaration required for international transport of cash and monetary instruments.

An entity that engages in money transmission in any amount is subject to the BSA rules.

The term ‘currency dealer or exchanger’ [has been replaced] with the new term ‘dealer in foreign exchange,’ a term used to include the exchange of instruments other than currency as a category of MSB.

It is recognized that AML/CFT regulations need to be applied not just to banks, but rather to a range of financial and other types of commercial institutions. Why? The reason is that any way that you can move money—any way that value can be intermediated—can be abused by criminals”.

Violations by much smaller entities might also merit monetary penalties.

Over the past year FinCEN has been engaged in an initiative to identify unregistered money services businesses, primarily independent money transmitters.

Now that FinCEN has established a solid regulatory framework for prepaid access in the United States, we must continue to promote analogous steps in foreign jurisdictions.

FROM:  As Bitcoin Becomes Billion Dollar Market America Moves For Crackdown | FDL News Desk.

Cue imperial march as the American Empire refuses to allow a currency outside its control and influence to flourish. And yes, of course, the government that just let HSBC walk with meager fines is going to invoke money laundering in its clumsy thuggish attempt to shutdown yet another avenue of freedom.


The US Department of State has released its annual International Narcotics Control Strategy Report (INCSR), a key component of which is a report on money laundering activities in various countries. The list of countries/jurisdictions “of primary concern” contains a whopping 65 names, which is only half the world, but hey, no one ever accused the US of slacking off when it came to projecting its values abroad. Among the nations allegedly slacking off on their oversight of money movement are notorious rogue states like Canada, the UK and Japan, popularly known as the Axis of Mundanity.


2 Responses to Obama Moves to Outlaw Bitcoin

  • Personally, I believe all this is subterfuge to gain more control of ALL the people in America… No where in the above did it mention the need for a "Court Order" to gain access to this sensitive data…

    Oh, did anyone mention "The New World Order"…. These people are more dangerous than China, Russia and Iran put together

  • THE TITLE SHOULD HAVE READ ,obama the anti-christ,moves to bring in one world money policy for the queen of englands nwo…….its not to late to save the world you know,if a haft dozen nuclear bombs were droped on england,the bible prophecys would not come to pass of the british causing the destruction of the world over money,bombing a country out of exsistance seems a little over the top ,but when the world is in danger from one country causing the level of death and destruction coming, it seems a small thing……remember they want a NWO with 500,000,000 people,thats a reduction of six billion,five hundred million people, all from one country england……blowing them off the map don’t seem so bad after you look at what their planning for america,population zero,…these guys aren’t our friends and never were,they want to kill everyone in america………………..

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