<story><title>US Senate Bill S.1241 to Criminalize Concealed Ownership of Bitcoin</title><url>https://btcmanager.com/us-senate-bill-s-1241-criminalize-concealed-ownership-bitcoin/</url></story><parent_chain></parent_chain><comment><author>ransom1538</author><text>General question. Currently money laundering is illegal (concealing money gained from unlawful activity) [i] and the IRS already asks you specifically if you own assets [digital currency] [ii], so i am honestly curious what this would change.  If you own bitcoin and are not disclosing this to the government [irs] of such assets you are already breaking federal law. This just adds charges? Or does this help fund the feds to form task forces? Lawyers I have consulted mention trusts to legally hide assets [iii]. help.&lt;p&gt;[i] &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.law.cornell.edu&amp;#x2F;uscode&amp;#x2F;text&amp;#x2F;18&amp;#x2F;1956&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.law.cornell.edu&amp;#x2F;uscode&amp;#x2F;text&amp;#x2F;18&amp;#x2F;1956&lt;/a&gt;
[ii] &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.irs.gov&amp;#x2F;newsroom&amp;#x2F;irs-virtual-currency-guidance&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.irs.gov&amp;#x2F;newsroom&amp;#x2F;irs-virtual-currency-guidance&lt;/a&gt;
[iii] &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.wsj.com&amp;#x2F;articles&amp;#x2F;SB912140808262492000&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.wsj.com&amp;#x2F;articles&amp;#x2F;SB912140808262492000&lt;/a&gt;</text></comment>
<story><title>US Senate Bill S.1241 to Criminalize Concealed Ownership of Bitcoin</title><url>https://btcmanager.com/us-senate-bill-s-1241-criminalize-concealed-ownership-bitcoin/</url></story><parent_chain></parent_chain><comment><author>21</author><text>Bank secrecy is dead*&lt;p&gt;To imagine that bitcoin could change that or not abide is foolishness.&lt;p&gt;* for poor people anyway, with poor meaning &amp;lt; $10 mil which affords you lawyers and offshore shell companies</text></comment>