In September 2023, Head of Policy nprofile1qqs80cjjxm2psuux933tsd0w5ljjtf49j9rxnxmyajweh3cgg5ca76g5eut6d wrote to HM Treasury regarding the decision by Chase Bank to decline customer payments regarding crypto assets.

His letter, and the response, are below.

From @npub1wl3...znlx:

The Crypto Asset Reporting Framework – what does this mean for Bitcoin in the UK?

How will it affect your personal safety and security if it’s implemented as planned?

We have today released a research paper and delivered this to HMRC with commentary on recommended changes to the draft legislation.

What’s being proposed? Under the Crypto Asset Reporting Framework or CARF, it’s proposed that tax authorities worldwide will gather and have access to information on cryptocurrency transactions, allegedly to combat tax evasion and ensure compliance with tax laws.

What’s wrong with it? The amount of personal and transaction data that will be gathered and shared is truly staggering. This won’t just be shared with your domestic tax authorities, but with others across the globe. It will include your name, address, date of birth, amount of Bitcoin held or sold or transferred. This is a highly dangerous level of intrusion into your personal and private life, particularly given the increasing frequency of data breaches (examples in our paper) and also the risk of violent physical attacks against Bitcoiners whose details are leaked to or obtained by bad actors. Additionally, the UK’s new draft regulations fail to make clear that none of these reporting requirements will fall upon the developers of free and open source software, as such persons cannot be in a position to comply.

How should it be changed? We recommend two simple changes – that the information being gathered on Bitcoin and cryptocurrency users is severely limited and in a way proportionate to the high risk of personal harm, and that the regulation clarifies that it cannot and shall not apply to the developers of free and open source software.

More details on our Substack👇

Support Bitcoin Policy UK: Your Contribution Matters

At Bitcoin Policy UK, we’re dedicated to educating and empowering people to understand and embrace Bitcoin.

Your contributions help fund vital research, educational programs, and advocacy that drives Bitcoin adoption and foster a more inclusive economic future.

You can donate to our @npub1kmw...xqk9 pages via our website here:

SK: Predikčné trhy predstavujú praktický spôsob, ako môžeme nahliadnuť do budúcnosti bez nutnosti spoliehať sa na tradičné, často nepresné metódy, ako je veštenie z kávových usadenín, hlasovanie, či komentáre “odborníkov” v novinách. Filip poukazuje na fakt, že tradičné metódy získavania informácií, ako sú prieskumy verejnej mienky, môžu byť dosť zásadne nepresné. To znamená, že predikčné trhy, ktoré umožňujú účastníkom investovať do svojich názorov, poskytujú presnejší a realistickejší odraz skutočnosti

Prečo “gambling” hovorí niečo o svete, ako ho možno používať na hedging budúcnosti, poistky, získavanie informácií, či robenie lepších rozhodnutí alebo dokonca financovanie verejných statkov?

Hack for kids: instead of an unrestricted access to a tablet, give them a walkman with cassettes. They get understanding of physical medium, they can record songs they like (even from YouTube), stories, ... Modern walkmans can record from analog audio input, some have even an integrated microphone.

They have fun, they can play and it's entirely their own thing.

On the other side there's no corporation wanting their attention to fill their head with cornflakes ads.

And then you give them nprofile1qqsy6j4hxl30hdd0pl2epd9harr0uakn5q4f0y000ldv7cqlneg04kqpz4mhxue69uhhyetvv9ujuerpd46hxtnfduhsz8thwden5te0dehhxarj9e3hjurgv4e8qatwdvh8gmmyv9uj7qghwaehxw309ahx7um5wghxy6t5wp6ku6ewvekj7su0fdq cassettes to listen to some good music (e.g. nprofile1qqsg37rs0fz7sfdp8mfcxve2hehz7yz2k3xcw7gchc392qyr526eucqppemhxue69uhkummn9ekx7mp0cr555r) and they also learn about Bitcoin and analog encoding and a lot of other stuff.

I did not make the picture. :)