Comment by koakuma-chan

It doesn't look like that explicitly will become illegal, but this part undermines a lot of the value of it:

> creating and using single-use wallets, addresses, or accounts, and sending [cryptocurrency] through such wallets, addresses, or accounts through a series of independent transactions

That's the default way Bitcoin wallets work, and it helps a ton to improve privacy. If we were limited to always reusing the same few addresses, it'll be very easy for not just law enforcement but ANYONE to see just how much Bitcoin you have.

If that's a small amount, it's not a risk. If it's a big amount, now you've got a target on your back. For me to accept Bitcoin payments, I need to publish my address, and from that address, you'll be able to see how much Bitcoin I have (and trace other transactions) over time.

Imagine everyone in town knowing that you've got six figures (or more) of money that can undoubtedly be extracted from you by invading your home, taking family members hostage, etc. At that point, you may think it's safer to keep it in an exchange, and you may be right.

If you are in Europe, it already kinda is. You need to declare/KYC that wallet. Europe also want these self-custodial wallets to become "accessible" somehow to the authorities.

Use a hardware wallet like Trezor.

Good luck with that. If you are on a 'real' OS like Linux or BSD and have *coins there, I doubt anyone would know. Especially if you have disk encryption and using a trusted VPN or tor or something like that. Remember to enable MAC spoofing too.

If you have your wallet on a Cell Phone, you might as well post a sign outside of your house stating "I am a bitcoin user and trying to keep that use secret" :)

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