The FIX at 4 - Daily Market Recap 9/27/2018 Crypto Task Force delayed


 Total News – Atlanta, GA 9/27/2018 As reported first here on Total News, Baidu has released it's first whitepaper on Blockchain.  Baidu is a traditional search company - it would be the equivalent of Google releasing a Whitepaper.  It is interesting that this happens around the same time that Bitmain filed for an IPO.  

In other news, while the US Congress is entangled in a complicated Judiciary appointment, a potential "Crypto Currency Task Force" has been delayed (but not killed).

Shown Here:Introduced in House (02/15/2018) Financial Technology Protection Act H.R.5036 - Financial Technology Protection Act
This bill provides for the investigation of new financial technologies (e.g., digital currencies) and their use in terrorism and other illicit activities. Specifically, the bill:
-establishes the Independent Financial Technology Task Force, which must report annually on such matters;
-establishes the FinTech Leadership in Innovation Program to support the development of tools and programs to detect such activities; and
-directs the Department of the Treasury to provide a reward for a person who provides information regarding terrorist use of digital currencies.

Here we go.  Bitcoin is being used to finance terrorism.  This is one event, one clause, that can cause the US Government to have the legal means and motivation to stage an attack on Bitcoin, should they deem it appropriate, and bring the price to zero.  Clauses like this are ever more relevant as we still don't know who created this magic "Bitcoin." -jg

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