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LiberalArkie

(19,538 posts)

5. Digital Currency Modernization Act

Reply to riversedge (Original post)

Thu Feb 5, 2026, 05:13 PM

Feb 5

The Digital Currency Modernization Act was signed into law Monday morning. It takes effect this Saturday at midnight. And when you wake up Sunday, the America of financial privacy will be gone.

The new law drops the cash transaction reporting threshold from $10,000 to $600. That means virtually any significant cash purchase—a car repair, a medical bill, a piece of furniture—now triggers a federal report with your name, address, and identification.

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Wednesdays multigraincracker

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Highlight:

Bitcoin drops 13%, breaking below $64,000 as sell-off intensifies, doubts about crypto grow [View all] riversedge Feb 5 OP

Critical stage tomorrow bucolic_frolic Feb 5 #1

Good - the sooner it goes away the better. walkingman Feb 5 #2

Why has the price of bitcoin plummeted? Experts explain riversedge Feb 5 #3

Posted this morning Wicked Blue Feb 5 #4

Digital Currency Modernization Act LiberalArkie Feb 5 #5

Tulip prices collapse... surfered Feb 5 #6

my doubts didn't grow. remained at zero. ret5hd Feb 5 #7

Zero is it's real value Progressive dog Feb 5 #8

Imagine that. moniss Feb 5 #9

I'm waiting for someone to say it's a great buy opportunity. Nt BootinUp Feb 5 #10

The BuytheDippers are swarming Prairie Gates Feb 5 #12

One reason to avoid crypto is that this could be market manipulation (nt) William Seger Feb 5 #15

how did crypto ever become a thing in the first place? cab67 Feb 5 #11

I wonder if it will implode completely especially since no government provides it with coverage for losses. cstanleytech Feb 5 #13

Never a doubt in my mind that crypto is just gambling (nt) William Seger Feb 5 #14

Locking. Dupe of https://democraticunderground.com/10143611851 GP6971 Feb 5 #16