News: United States Regulators Begin Crack Down on Crypto and Bitcoin Crime


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0:00:00 United States Regulators Begin Crack Down on Crypto and Bitcoin Crime

0:00:05 This update is brought to you by “CoinCheckup News Updates” and was originally published on “NewsBTC”.

0:00:11 Following the announcement of Facebook Libra – a crypto project aimed to replace the US dollar and other fiat currencies, the United States has been up in arms regarding Libra, Bitcoin, and the rest of the cryptocurrency landscape.

0:00:24 The US is finally ready to begin regulating this portion of the financial sector and has begun a widespread crypto crackdown that’s only increased in recent weeks.

0:00:33 Suspicions began to arise that heavy-handed regulation from the United States might be on the way the moment crypto exchange Binance announced it would be barring US-based crypto investors from using its flagship website in favor of ushering them to a US-based platform sans many of the altcoins that makes Binance attractive, in partnership with a yet-t0-be-named partner.

0:00:53 US investors make up the largest chunk of crypto investors, and fears that the asset they could be holding may soon be outlawed has caused bearish sell pressure across the space.

0:01:03 And while Bitcoin price is falling, so too are criminals who use Bitcoin and crypto assets in their illicit transactions, one-by-one like dominoes, now that the United States has begun what appears to be a major crackdown on the asset class.

0:01:16 I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air.

0:01:23 Following some scathing tweets by United States President Donald Trump about crypto and Bitcoin being used for criminal activities like cybercrime, drug dealing, human trafficking, and money laundering, and negative comments by Trump-appointed Secretary of Treasury Steven Mnuchin, a number of Bitcoin-using criminals have become targets.

0:01:41 Thanks for checking this video!
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