FBI Issues Warning Against Using 'No-KYC Cryptocurrency Money Transmitting Services'

- "The FBI warns Americans against using cryptocurrency money transmitting services that are not registered as Money Services Businesses (MSB) according to United States federal law and do not adhere to anti-money laundering requirements."

- "Using a service that does not comply with its legal obligations may put you at risk of losing access to funds after law enforcement operations target those businesses."

https://www.nobsbitcoin.com/fbi-warns-americans-against-using-no-kyc-services/


Defund all the 3 letter agencies


If the FBI is pursuing money laundering offenders, I respectfully and humble offer: JPMorgan, Bank of America, and several other large US banks that have been doing it for years.


The fight for privacy and selfsovereignty unfolds. Right on cue. First institutional fights over who controls #bitcoin Now the government is voicing their concern for losing power over individuals.

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This is essentially just "That's some nice BTC you have there...be a shame if something happened to it."

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XD

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https://samouraiwallet.com/

https://www.axios.com/2024/04/24/samourai-wallet-arrested-crypto-mixing


I thought that would start in poor and dictatorial countries, not in the USA


Not long ago it was the Tornado Cash case but that was on Ethereum and largely brushed off by many Bitcoiners. Then it was the Bitcoin Fog case but that was custodial and again largely brushed off by many Bitcoiners.

To some, the trajectory has been clear for several years. Often times those warning of real and present dangers are met with skepticism and dismissed as FUDsters.

Yesterday it was Samourai Wallet, a non-custodial Bitcoin wallet with the ability to coordinate CoinJoins. If you brushed off Tornado Cash & Bitcoin Fog, don't make the same mistake this time.

The language used by the FBI is so broad and generalized in their PSA and their recent actions have been so over-reaching that it should now be crystal clear to any Bitcoiner that any Bitcoin wallet project not implementing KYC measures runs the risk of having the developers arrested for operating an unlicensed Money Services Business. Node projects and miners are not far behind.

The entire pretext to this narrative is false because Bitcoin is software, software is code, code is speech, and freedom of speech is a God-given right. Ask yourself, where do you draw the line? What rights are you willing to defend? And if push came to shove, how far are you willing to go to defend those rights?

"Give me liberty or give me death" are not hollow words because a life without liberty is not a life worth living. Many have already made the ultimate sacrifices and many more will follow in their foot steps. Every dialogue consists of a call and a response and right now the FBI is having a one-sided conversation. Make a stand and respond loudly and clearly that the erosion ends now.

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Only 3% of Americans fought in the first revolution.


I found your note valuable 💪


I really appreciated samauri wallets security features. it was the best of a few dozen I'd tried. I've never used the mixer, I just stack.


Onward 🫡


something I don't understand: Can the type of wallet be identified from the block chain, or only inferred from app store downloads?


Coffee on me ☕