How an executive order 6102 on #bitcoin could potentially materialize in a futuristic dark scenario IMO:

1. Non-KYC exchanges/ATMs service providers rendered illegal in all jurisdictions
2. Exchanges not authorized to withdraw in favor of unhosted/unregistered wallets

1/

3. Formal definitions adopted on "clean" bitcoins vs suspicious origins
4. Usage of privacy-preserving techniques (e.g. CoinJoin) assimilated to money laundering attempts
5. Creation of dedicated financial intelligence units around the world to surveil on-chain activity

6. Governmental level censorship and attacks on unhosted wallets to discourage self-custody
7. Massive taxation and heavy punishment for undeclared bitcoin ownership
8. Law enforcement actions on miners to capture the industry and ultimately enforce UTXOs blacklisting

9. An Xpub not registered with a LE approved third-party is an illegal Xpub
10. Forbid merchants to accept TXs from unregistered wallets tied to an identity
11. Gov crackdown on Tor and VPN usage
12. Once +90% of bitcoins are held by custodians, the -10% left is deemed illegal

Not suggesting this will happen but thinking about worst-case scenarios helps making the right choices today.

If enough people are avoiding trusted third-parties and don't go back to fiat, none of the above bs matters.

More distrust, more Todd

If some of you would have something to add to the above, throw it into the mix

@6102bitcoin @maxtannahill @BitcoinQ_A @DiverterNoKYC
@CACryptoLawyer @matt_odell
@stephanlivera @P_Hold