The authorities view cryptocurrencies as an “evolving threat” to traditional financial instruments. This opinion was expressed by an ex-employee CIA And NSA USA Edward Snowden reports Decrypt.
In an interview with Filecoin Foundation Chair Martha Belcher at Camp Ethereal 2022, he stated:
“I think governments are right about the evolving threat to the traditional tools they are used to in terms of being able to impose regulation on privacy and more broadly on private trade.”
The US financial network operates very “pervasively” with anti-money laundering measures and policies, he said. KYC.
“It’s hard for me to believe that if they had the technical ability to easily get the serial number of every dollar bill that passes through their hands, then they didn’t,” Snowden said.
He believes that the idea of the anonymity of money is a thing of the past:
“When you think of bitcoin with its public ledger, there is a private ledger for every dollar that enters the banking system. It is available to those who exercise financial oversight. So it’s really private to the public, but public to, let’s say, insiders.”
At the same time, Snowden believes that, like the traditional financial system, bitcoin and Ethereum are experiencing privacy problems. He drew attention to the development of the field of on-chain analysis, in which participants “do pretty tricky things” such as “trying to get financial advantages.”
Despite claims to the privacy of blockchains, Snowden reaffirmed his belief in the future of technology and cryptocurrencies.
“What is really lacking for people who are diving into the details is understanding how transformative the attitude of the authorities is or how it will change as we move from these legacy technologies to future decentralized solutions,” he said.
Recall that Snowden expressed a negative attitude towards meme-tokens like Dogecoin or Shiba Inu. He directly warned his subscribers against investing in the latter.
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The authorities view cryptocurrencies as an “evolving threat” to traditional financial instruments. This opinion was expressed by an ex-employee CIA And NSA USA Edward Snowden reports Decrypt.
In an interview with Filecoin Foundation Chair Martha Belcher at Camp Ethereal 2022, he stated:
“I think governments are right about the evolving threat to the traditional tools they are used to in terms of being able to impose regulation on privacy and more broadly on private trade.”
The US financial network operates very “pervasively” with anti-money laundering measures and policies, he said. KYC.
“It’s hard for me to believe that if they had the technical ability to easily get the serial number of every dollar bill that passes through their hands, then they didn’t,” Snowden said.
He believes that the idea of the anonymity of money is a thing of the past:
“When you think of bitcoin with its public ledger, there is a private ledger for every dollar that enters the banking system. It is available to those who exercise financial oversight. So it’s really private to the public, but public to, let’s say, insiders.”
At the same time, Snowden believes that, like the traditional financial system, bitcoin and Ethereum are experiencing privacy problems. He drew attention to the development of the field of on-chain analysis, in which participants “do pretty tricky things” such as “trying to get financial advantages.”
Despite claims to the privacy of blockchains, Snowden reaffirmed his belief in the future of technology and cryptocurrencies.
“What is really lacking for people who are diving into the details is understanding how transformative the attitude of the authorities is or how it will change as we move from these legacy technologies to future decentralized solutions,” he said.
Recall that Snowden expressed a negative attitude towards meme-tokens like Dogecoin or Shiba Inu. He directly warned his subscribers against investing in the latter.
Subscribe to Cryplogger news in Telegram: Cryplogger Feed – the entire news feed, Cryplogger — the most important news, infographics and opinions.
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