The issue of confidentiality in crypto transactions in the US continues to come up. In the country, different understanding of arrangement about the use of Bitcoin and other crypto assets has come to the fore. These developments bring about discussions between financial freedom and regulatory transparency.
Privacy -oriented Crypto Procedures
Blanche, one of the secondary officials of the US Department of Justice, published a Memo titled “Ending Regulation by Prosecution”, Crypto currency exchanges, mixer services and offline wallets on prosecution -based arrangement application will be terminated. According to the statement, users will no longer be initiated due to unconscious transactions. This decision was interpreted as a step to maintain the financial privacy of crypto asset users.
Dag Blanche expression: “The Ministry of Justice will end prosecution -based regulation practices in this field. Crypto currency exchanges, mixer services and offline wallets will no longer be targeted due to user errors.”
Tight control in crypto
New York Chief Public Prosecutor James discussed the issue from a different perspective. In his article addressed to the members of the congress, he suggested that crypto platforms should adapt to laws and customer recognition procedures that prevent money laundering. James, if crypto assets are not fully traceable, said that money should be prevented from transforming money into US dollar, and asked for a regulatory framework.
NY AG James expression: “Effective legislation requires crypto platforms to comply with laws, customer recognition procedures and cyber safety rules against money laundering. Crypto beings that cannot be traced should not be deemed appropriate in terms of transformation into dollars.”
The statements of the two official institutions revealed different approaches to the control of crypto beings. While Blanche emphasizes user privacy, James advocates more tightening of arrangements. This reflects disagreements about how crypto transactions should be inspected.
Within the US, discussions continue to balance between financial freedom and public security. There are also references to human rights and democratic values. It is seen that the future of the issue will determine the interaction between law and technology.
Political arena, Samourai Wallet and Tornado Cash with exemplary events such as increasing the importance of the issue, citizens are expected to report their views. The practices of different institutions shape their approaches to both personal privacy and national security.
These developments point out that new regulations can be created in the future in the supervision of digital assets and the protection of personal privacy. The effect of relevant explanations and steps on future regulatory processes is curiously followed.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
