Crypto regulations buried deep in an unrelated bill highlight the need for self custody.
No government has the power to stop people from using technology. No matter how difficult a state might make it to access, if it is useful then there will always be citizens who bypass restrictions. This week, the United States government aims to pass the Bipartisan Infrastructure Package (BIF), a bill intended to rejuvenate the country’s infrastructure and, for some bizarre reason, incorporated a set of restrictions on the use of cryptocurrencies in order to support its funding.
Strict regulations of the cryptocurrency sector are already in place in the USA, but the vague proposals laid out in this particular bill would expand requirements to a level that few parties could comply with. In its current form, it would decimate the nation’s blooming crypto industry and infringe on privacy rights. It is nothing short of gross incompetence by shadowy super-legislators who appear to understand nothing about Bitcoin and related technologies, let alone individual rights and freedoms.
Read the blog post here https://blog.trezor.io/governments-cannot-control-your-wallet-ae4933febb87