The US is f*cked. If you thought civil asset forfeiture was bad because cops could take your cash for no reason, Biden now wants to enact the same for bitcoin.

Its disgusting that cops can take your cash just because you have it. You could be driving between two states with some casino winnings in your car with you and cops can seize it for no reason. You then need to prove how you obtained it or the cops keep it. The incentives surrounding this are fucked, its free money for cops with no recourse and most of the time its too hard to prove the source of the cash so the cops keep it.

Now Biden wants the same to be done with bitcoin. If you pass through a US airport or get pulled over with a bitcoin wallet on you authorites will have the legal right to seize it from you just because you have it. You will be forced to allow them access to it or face prison. They wont need any reason at all to seize your bitcoin.

America is fucked.