The War On Financial Privacy Is Escalating – Bitcoin Magazine


The below is a direct excerpt of Marty’s Bent Issue #1248: “The privacy wars have escalated.” Sign up for the newsletter here.

The U.S. Treasury decided to come out of the woodwork and send a shot across the bow of the “crypto” industry yesterday by adding the open-source privacy project Tornado Cash that runs on Ethereum to the list of sanctioned entities. In the process, the department highlighted a few things: The U.S. federal government is dead set on ensuring that U.S. citizens are completely surveilled and subjugated; altcoin projects aren’t as decentralized as advertised; and while Bitcoin is significantly more immune to these types of attacks compared to the altcoin projects out, there complacency isn’t an option. There are many things that can be done to ensure the network is as robust as possible against efforts by the state to curb bitcoin adoption and usage.

Just days after a bill was pushed through the Senate that greenlights the hiring and arming of 87,000 tax collectors to harass middle- and lower-class Americans and shake them down for the few remaining pennies they have to their names and less than 24 hours after the FBI raided the home of a former president over the belief that he was housing National Archive files, the Treasury Department decided to come down with the hammer on those who are looking to attain some sense of privacy while using Ethereum. The sequence of events may be able to be written off as completely disconnected by some, but to your Crazy Uncle Marty, this seems like a coordinated effort to try to further demoralize the masses, punish those who go against the narrative and threaten the control that the unproductive class enjoys, while scaring those of us who have decided to exit the crumbling system by using alternative systems like Bitcoin.

Source link Bitcoin Magazine


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