Did this get posted here? A new bill is in committee - Senate Bill 1241 - that will criminalize the mere possession of cash totalling over $10k that is not registered with the federal government.

No more cash under your mattress, in a safe, in a safety deposit box...if you don't put the cash in a bank, or register the cash with the federal government, it can seize ALL of your assets - not just the cash in question. And you are subject to 10 years in prison.

Then only criminals will have cash.

And probably incandescent light bulbs too!

And a 4 gallon flush toilet!! Gadzooks!

Oh, good grief!

My in-laws have a safe. For years, my MIL held a job a Walmart in order to get group insurance. They had other assets to covert living expenses.

When she was paid, she would cash the check, get it in $100 bills, and put that in the safe. When they went somewhere, she would get out the cash they planned to spend and take it along. She felt comfortable knowing that they had CASH to cover anything they needed.

how about people who buy & sell things....secomd hand things for a living....or the like?

Reading this made me angry and scared at the same time. (Not that I have big stash of cash hidden under my mattress, I wish I have.)

I don’t like when government is regulating my life.

People from all over the world coming to America for freedom.

I did the same.

Now I feel like government want to take this freedom piece by piece.

They are using strongest human emotion – fear to control us, but I feed enough to sense this propaganda “Our country surrounded by the enemy!”

They starting with cash amount to handle. After they will tell us what books allowed to read, what music to listen, what food to buy, what God to believe or not.

I was trying to translate to English a word that mien “registration for residency”, but dictionary can’t translate it because it just not exist here (YET!)

They are claiming they want to protect us from criminals, but criminals will always find the way to go over. Don’t they handle it just fine with illegal drags, illegal immigration and illegal guns?

The bill is posted at:

Um, had you read this bill before you posted this?

I don't see what you are saying at all.

The only part that addresses amounts over $10,000 is a section about the "TRANSPORTATION OR TRANSHIPMENT OF BLANK CHECKS IN BEARER FORM." It isn't about having cash in your home.

This bill targets digital currency specifically (by considering it a "monetary instrument in bearer form").

I actually STILL disagree with the bill -- but it has nothing to do with cash in your house as you've suggested here.

In fact, the whole POINT of this bill is money being transported -- so the whole "No more cash under your mattress, in a safe" part makes no sense at all.

Again, I'm not a fan of this bill -- but it doesn't do what you seem to think it does.

- John...

WMH: There is already a law for international travel with $10,000 or more -- but that currently doesn't count digital currencies. That is the difference here -- they are adding cryptocurrencies to the mix.

And, yes, it mentions safety deposit box -- but ONLY IN THE SECTION ABOUT FREEZING BANK ACCOUNTS of those after they are found violating the law!

It does NOT say AT ALL that you can't have more than $10,000 at home or in a safe deposit box without "registering" it with the government. It simply doesn't say that, WMH.

- John...

No, it doesn't also include credit cards, gift cards, and such. That's the point. This is panic over nothing.

And, no, they aren't all "cryptocurrency" because that isn't what we/they mean by that term. They are referring to BitCoin and other similar digital-only, non-government-backed currency.

- John...

P.S. Again, to be clear, I don't agree with the law. I don't think digital currency should have to be declared. But, I guess I also don't think even cash over $10,000 should have to be declared when going through customs. But, that's the law as it is -- and this is mainly just modifying it to include digital currency. I don't like it, but it isn't the "you can't keep cash in your bedroom any more" that some are making it out to be.

WMH: That is fine that you are concerned about that. This bill still doesn't do what you thought it did and wrote about here. That's all I'm saying.

Nothing wrong with being concerned about government over-reach. But spreading misinformation and fear mongering is almost as bad. :)

- John...

cryp·to·cur·ren·cy

ÈkriptMÌkYrYns/

noun

a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.