Happy 9/11 everyone! In the spirit of a country that has learned absolutely nothing from its 20+ year “War on Terror”(tm), the Treasury and Congress are actively working on legislation that would apply the PATRIOT Act to digital assets. This includes a blanket ban on any tools (and behaviors!) that grant users transactional privacy, as well as the authority to ban *transaction types* without public input or notice. Not reported anywhere else, so make sure to drop us some soon illegal zaps so we can continue doing this work. View quoted note →

These people are fucking deranged. View quoted note →

The Patriot Act is a scam that needs to be shredded and thrown out, once and for all.

i am shocked 😱 its almost as if default protocol-level privacy is necessary to make the free speech argument. #monero

Omfg

Protocol says no

Well,well, as predicted. View quoted note →

Says the biggest money launders in the history in human existence Will not comply

#it'sa🤡🌎 View quoted note →

Civil disobedience is quickly becoming the only recourse to retain our God given rights to privacy, speech, and association.

“In short, the language facially empowers the Secretary to prohibit any (or indeed all) cryptocurrency transactions at financial intermediaries." Cutting the off-ramps is when we’ll see if Bitcoin is successful or not. #nokyc #p2p View quoted note →

Waaaaaah??? Really???

Defnitly agree on that. This is a law that gives backdoor access. And all who understand security know, that a product can technically not create a backdoor without weakening their security. So this is a law to make our tools less save.

🤢🥵💩 View quoted note →

We need a list of all the privacy (security?) tools we should download and save right now! View quoted note →

@L0la L33tz am I understanding this right that the FinCen rules wouldn't render mixers or other transactional obfuscation illegal, per say, but establish a regulatory burden on centralized agencies to block transactions of coins that cannot be adequately traced? And also to flag people using privacy software as engaging in auspicious activity? In other words, it isn't a blanket ban but a way of disincentivizing people to run/maintain/develop/use privacy tools? Or am I wrong and this would be a blanket ban?

BIATTFG View quoted note →

Vote for Trump! Lol

Another one of the "I told you so moments". Many are just being stubborn and trying hard to close their eyes, even those will eventually understand that monero fixes that.

not good

rEgUlAtOry ClaRiTY

That is correct, though it would result in a defacto ban, as 1) no exchanges will accept tx that are a ML concern and 2) no devs will build tools officially understood to be a ML concern - see for example the transactional delays, this is effectively a description of Samourai‘s Ricochet

What are your thoughts on Valkenburgh's post?

X (formerly Twitter)

Peter Van Valkenburgh (@valkenburgh) on X

A recent article in @theragetech, "US Government to Bring Patriot Act to Digital Assets" suggests that the Treasury is in the process of banning pr...

Few people I respect more than Peter in this space, but I found his post to be fairly misdirected. Ill go through it one by one since a lot of people have asked. 1) bringing up that the PATRIOT Act already applies to digital assets via the BSA was imo unnecessary as a „clarification“, as the article mentions how the PATRIOT Act applies to money in the 2 or 3 paragraph I believe. This does not change that this would be the first rule under the Act to be tailored specifically to digital assets. 2) CoinCenter themselves stated in their comment that the rule would affect virtually any tx touching privacy - stating that its not „a ban“ is unnecessary for reasons explained above, as it would be a defacto one. 3) That the new admin doesnt want 311 applied as stated in the proposed rule is merely based on vibes. I hope this is true, but theres no public info to suggest this to my knowledge. Unfortunately, I cannot report on vibes. 4) again unnecessary imo as Gackis perspective was laid out in the article re making sure to only target illicit activity - I even updated the article with additional info on this after Peter‘s comment, but Gackis sentiment was included from the start, so not sure why he brought that up. 5) vibes, again 6) This was constructive feedback that I missed and updated after Peter‘s comment. Hope that helps.

If this goes through it'll kill BTC as money. Meanwhile Monero gets attacked on another front. They can't have Monero taking Bitcoin's position.

Must be this left wing extremist socialist governments who hate freedom /s

The answer to the retarded trump admin is not a retarded commie. The left wing today dominate the overt anti freedom narrative but we need to reject all people dedicated to eroding freedom in service of collectivists fever dreams be they commies or fascists.

Your whole politics is reduced to a shouting match about identity politics and labels that completely lost all meaning.

oof

I love this comment.