The US Authorities’s Combined Indicators on Digital Forex Privateness
To take a look at the U.S. authorities, it’s the better of occasions and the worst of occasions for private monetary privateness.
On the one hand, in feedback earlier than the Senate Monetary Companies Committee, Treasury Secretary Steven Mnuchin mentioned his company’s Monetary Crimes Enforcement Community, or FinCEN, is planning stricter rules on anti-money laundering and crypto.
On the identical time, the CEO of DropBit was arrested on cash laundering fees round a bitcoin (BTC) mixing service he allegedly ran between 2014 and 2017. On this new enforcement regime, one of many authorities’s main companions is Chainalysis, which has received greater than $10 million in federal company contracts since 2015.
But, privateness advocates are additionally surprisingly enthused by feedback from Federal Reserve Chair Jerome Powell, who advised in testimony to Congress that any potential U.S. digital greenback would wish to protect privateness.
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