Analysis of FinCEN Policy FINCEN-2023-0016: Overreach and Impact on Individual Rights — #jointheeclipse (egodeath.capital)

submitted 11 months ago by Saki@monero.town to c/monero@monero.town

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How FinCEN May Be Violating Your Rights
A call to action against FINCEN proposal 2023-0016A
Written By Preston Pysh

Eroding Anonymity Through Additional Verification: The mandate for “Additional Customer Identity Verification Measures for Transactions Involving Unhosted Wallets” is a direct affront to privacy and anonymity. This requirement transgresses on the First Amendment’s sanctuary for anonymous speech

A Direct Assault on Anonymity-Enhanced Currencies: The “Prohibition on the Use of Anonymity-Enhanced Convertible Virtual Currencies (AECVC)” is nothing short of a legislative bulldozer through the edifice of privacy.

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[-] tusker@monero.town 4 points 11 months ago

"overreach" as if they had any legitimacy or right to reach in the first place...

[-] Saki@monero.town 1 points 11 months ago

Both in the EU and in the US… things are not looking too good.

Pysh also objected to FinCEN’s record-keeping demands regarding “anonymity enhanced CVCs.” These refer to digital assets with enhanced privacy protocols like Monero.

To FinCEN’s credit, malicious actors like North Korea’s Lazarus Group have certainly used Monero to launder money while covering their tracks. However, everyday US citizens also use Monero for legitimate purposes, like purchasing art, video games, or even gifting presents when the sender wants the gift to be a surprise even for tech-savvy recipients.

[-] tusker@monero.town 1 points 11 months ago

Instead of doing their job and hunting down those that cause harm to others they will use threats of violence against those trying to their jobs and earn a living.

This is all about protecting the parasitic state's illegitimate position of stealing a percentage of every single transaction in order to continue carrying out intimidation, murder, and war crimes around the world for the benefit of a few elite families.