Jack Dorsey criticises proposed US cryptocurrency regulation - Business Insider

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Jack Dorsey slammed proposed US cryptocurrency laws as 'nonsensical' — 3 months after his company bought $50 million in Bitcoin

from the Financial Crimes Enforcement Network . The proposed new law would require companies to collect the names and addresses of people if they make cryptocurrency transactions over $3,000, the idea being this would help law enforcement in tracking down any illicit transactions being conducted

"Were the proposal to be implemented as written, Square would be required to collect unreliable data about people who have not opted into our service, or signed up as our customers," Dorsey wrote.

 

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