We have a while https://t.co/SFYVeCDfs7
— jack (@jack) January 4, 2021
Jane Manchun Wong, an analyst, said:
Why did Jack Dorsey extend the Bitcoin emoji expiry?
An anonymous Twitter user said:
“Ah turns out the #Bitcoin emoji temporarily being removed was actually not a canary in the coal mine precursor to the death of the entire industry, who’d have thought”
Another pseudonymous Twitter user wrote:
“Jack is a legend Fire so a few days ago the #bitcoin emoji disappeared, sounds like it expired so he reset it to the year 3000 for next expiry date.”
Later on, it was clarified that the emoji expired and that the Twitter team moved the expiry.
— jack (@jack) February 2, 2020
What’s behind the support for BTC?
The FinCEN legislation, if passed, would require entities to keep track of non-custodial wallets and sensitive personal data behind them to be sent to the FinCEN above a certain transaction amount.
Dorsey said that he opposes this piece of regulation, stating:
“If a Square customer’s mother gifts her daughter $4,000 in physical cash and the daughter deposits those funds in a bank, the bank would have no obligation to collect information on the customer’s mother. Under the proposal, if this same transaction were completed in cryptocurrency, the bank would have to reach beyond its customer relationship and intrude upon the mother’s private information in order for the daughter to successfully deposit and freely access her gift.”
In January, for instance, former Trump aide Anthony Scaramucci’s hedge fund SkyBridge announced that it accumulated $300 million worth of Bitcoin from November to December of last year.
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