The US Government’s Combined Alerts on Electronic Currency Privateness

To appear at the U.S. federal government, it is the most effective of moments and the worst of moments for personal money privateness. 

On the 1 hand, in remarks right before the Senate Financial Providers Committee, Treasury Secretary Steven Mnuchin mentioned his agency’s Financial Crimes Enforcement Community, or FinCEN, is arranging stricter polices on anti-income laundering and crypto. 

At the very same time, the CEO of DropBit was arrested on income laundering fees all around a bitcoin (BTC) mixing company he allegedly ran amongst 2014 and 2017. In this new enforcement regime, 1 of the government’s main partners is Chainalysis, which has received a lot more than $10 million in federal company contracts because 2015. 

But, privateness advocates are also shockingly enthused by remarks from Federal Reserve Chair Jerome Powell, who prompt in testimony to Congress that any likely U.S. electronic dollar would want to maintain privateness.

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