Of particular note was an introductory slide which listed areas of concern in the banking sector.
The highest level of concern was with regard to compliance with Bank Secrecy Laws and anti-money laundering laws.
The slide identified "bulk cash smuggling, marijuana related businesses and virtual currencies" as where banks are exposed to "heightened risks."
This means that it will be difficult for Bitcoin dealers to find banks willing to take on their business and banks that do will be monitoring the accounts very closely.
Dealing with Bitcoins is like putting a target on your back that says follow me.
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-RW
Oh come on. If the cronyists loved something maybe that would be a sign it's good for them. Since the cronyists are scared of a technology maybe that's a sign it's bad for their well being! Of course they fear cryptocurrency. Of course they and they government will try to fight it. They know it is an effective weapon toward their undoing. Let's not be naive and think that as we do gain an effective weapon our enemies are going to smile and embrace it. Let's take their terror as a sign we've got something that could work.
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