The Slow Criminalization of Peer-To-Peer Transfers
If we want to draw the connection to cash, companies that trade in large amounts of cash are also subject to regulation and reporting.  For example, U.S. financial institutions are required to file Currency Transaction Reports for deposit, withdrawal, exchange of currency, or other payment or transfer that involves more than $10,000.<p>Any organization that is facilitating those trades is subject to financial regulation, even if the trade is in cash.  Indeed, if the transaction crosses the border even individuals carrying cash have to report it for sufficiently large amounts: <a href="https:&#x2F;&#x2F;www.ffiec.gov&#x2F;bsa_aml_infobase&#x2F;pages_manual&#x2F;OLM_035.htm" rel="nofollow">https:&#x2F;&#x2F;www.ffiec.gov&#x2F;bsa_aml_infobase&#x2F;pages_manual&#x2F;OLM_035....</a><p>If anything this enforcement is treating bitcoin more like cash, not less.