
Proposed Bill Requires Travelers to Declare Bitcoin at US Border - uptown
http://www.investopedia.com/news/congress-bill-require-declaration-digital-currencies-us-border-bitcoin-homeland-security/
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gehwartzen
"Because digital currencies technically accompany a holder anywhere that he or
she goes, including across a border, that traveler would need to declare his
or her entire cryptocurrency portfolio every time he or she enters the United
States."

No. At most, a key accompanies the holder. The currency itself is essentially
located on the network.

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SCAQTony
Scenario: A person has a CoinBase account with 100 Bitcoins and wishes to
leave the country with $250,000. This person has chosen to download his
bitcoin to a wallet that has no historical transaction history with CoinBase
save for a fresh download the DAY AFTER he arrive in a new country...

How is the US Customs going to know where the physical location of that money
is or went?

