The powers that be want to ban cryptocurrencies and they’re doing it via fear mongaring and AARP at the state level now; that effort has hit New Hampshire
The powers that be have failed to kill cryptocurrencies at the federal level, but are now targeting state legislators and getting bills passed in many states that effectivity makes Bitcoin and other cryptos more difficult to utilize than cash and other mechanisms of transferring value (ie credit cards, wire transfers, etc).
They’re utilizing fear mongering around 3td party fraud with the help of AARP’s large membership. With enough ignorant people testifying they manage to get these bills passed despite that these bills don’t stop or even inhibit scams and frauds. They do on the other hand make cryptocurrencies all the more difficult to get and utilize for EVERYONE else.
The bill doesn’t do anything to stop scammers from utilizing mules (a common method), the mail (mailing cash), using gift cards (another common means of getting cash out of older folks), using PayPal/Venmo/and similar, nor other means (like having old people wire money to a mule’s bank account and forwarding it onward).
What is happening here are the powers that be are utilizing the same methods as scammers, but this time to exploit old people into making them believe crypto is the devil. They then put forward bills that regulate Bitcoin and cryptocurrencies in the extreme and for all intensive purposes ban Bitcoin sales in practice via vending machines. The senate hearing was packed with old people from AARP and it disturbingly passed the senate.
Help save cryptocurrency in New Hampshire!
The address for the house version of the bill is Tuesday April 7th at: 1 Granite Place, Concord, NH 03301.
The hearing is on house bill SB482. “Granite Place” Room 159.
This bill will mandate full KYC for cryptocurrency vending machines, put a $2000 per day limit on purchases, put a 14 day hold on your funds, and make vending operators liable for 3rd party scams if users send their crypto to scammers. It will also mandate chainalysis.
This effectively bans the sale of cryptocurrency through vending machines as it’s economically infeasible to ensure little old ladies buying crypto don’t send their crypto off to scammers after acquisition. If even a small percentage of users did so it would completely eliminate the margins on selling and therefore WILL put every vending machine operator out of business in New Hampshire.
The scary thing is this already passed the senate.
It’s extraordinarily important that everyone who cares about financial freedom show up to the hearing and testify against this bill on Tuesday. Testifying against the bill is easy. You just sign up when you get there and tell the reps why you think this bill should not be passed.
