Responding to senator’s bid to ban Bitcoin, congressman calls for cash ban

Responding to senator’s bid to ban Bitcoin, congressman calls for cash ban Responding to senator’s bid to ban Bitcoin, congressman calls for cash ban | Ars Technica The exchange of dollar bills, including high denomination bills, is currently... More

Responding to senator’s bid to ban Bitcoin, congressman calls for cash ban Responding to senator’s bid to ban Bitcoin, congressman calls for cash ban | Ars Technica The exchange of dollar bills, including high denomination bills, is currently unregulated and has allowed users to participate in illicit activity, while also being highly subject to forgery, theft, and loss. For the reasons outlined below, I urge regulators to take immediate and appropriate action to limit the use of dollar bills. By way of background, a physical dollar bill is a printed version of a dollar note issued by the Federal Reserve and backed by the ephemeral "full faith and credit" of the United States. Dollar bills have gained notoriety in relation to illegal transactions; suitcases full of dollars used for illegal transactions were recently featured in popular movies such as American Hustle and Dallas Buyers Club, as well as the gangster classic, Scarface, among others. Dollar bills are present in Less