Bitcoin proponents have reacted angrily to what they warn is a fresh attempt to make US Congress ban public cryptocurrencies.
Murray: US Should Treat Miners Like Banks
As financial news outlet Business Telegraph reported, on September 3, an expert witness went before lawmakers to argue miners on blockchains such as Bitcoin’s should face full banking-style regulation.
David Murray, vice president for product development and services at Financial Integrity Network, referred to miners as “virtual asset transaction validators.”
“At minimum, virtual asset transaction validators should be required to govern participation in their validation systems, with well-designed programs for vetting the issuers, exchangers, and custodians that they serve,” he testified.
Murray was speaking within the context of a debate which aimed to address international human trafficking.
He singled out Bitcoin in particular as part of a financial phenomena group which allegedly exacerbate the problem. These, he said, should fall under the…