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19 Nov '12, 9am

Mark Nestmann studies the #bitcoin brainwallet concept; Feds Expand Definition of 'Cash' to Include Stored Value Cards

Feds Expand Definition of 'Cash' to Include Stored Value Cards by Mark Nestmann The Nestmann Group, Ltd. Recently by Mark Nestmann: Uour Money Isn’t Safe in Any U.S. Financial Institution For the last three days, I’ve been in bustling downtown Panama City, Panama, speaking at an offshore conference. Panama is as dynamic as ever, and I’ve made considerable progress filing my application for permanent residence. My exit from the United States was relatively hassle-free, other than the mandatory scan of my genitalia by the TSA before I boarded my flight. However, I’ve now learned that the Treasury’s Financial Crimes Enforcement Network (FinCEN) plans to add another obstacle to leaving (or entering) the United States: declaring the value of any “tangible prepaid access devices.” In case you’re wondering, TPADs are otherwise known as stored value cards. U.S. law has long requir...

Full article: http://lewrockwell.com/nestmann/nestmann47.1.html

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