“The Wall Street Journal in the announcement notes the “barrage of complaints” from the bitcoin community over proposed regulations. Digital privacy advocacy group EFF panned the regulations. “The proposal creates expensive and vague new obligations for start-ups and infringes on the privacy rights of both Bitcoin businesses and casual users,” the group wrote in a statement.
“The main justifications for the regulations are to protect consumers and to fight money laundering. However, as with most proposed regulation, very few people are talking seriously about the tradeoffs required.” . . . Read Complete Report