The U.S. government is intensifying its scrutiny on the cryptocurrency industry, focusing on Bitcoin and issues related to privacy and tax evasion. This crackdown includes concerns over self-custody of cryptocurrencies and the financial activities of individuals who have renounced their U.S. citizenship. High-profile figures and entities, including a CIA whistleblower and Edward Snowden, have publicly criticized these measures. Snowden emphasized the urgent need for privacy enhancements at the protocol level of Bitcoin to protect users.
Snowden Critiques #Bitcoin's Lack of Privacy, Cites Urgency for Protocol-Level Solutions https://t.co/pbtFscWF29
US Government Could Target #Bitcoin, Warns 'Wolf of All Streets' Amid #Crypto Attacks https://t.co/K2RsC9eyWk
US government policies that affect the economy and/or the outlook for the US Dollar may also have implications for $BTC. After all, Bitcoin is an alternative money system that competes with the Dollar. Watch more from @LowBeta_ : https://t.co/EJjVm4osmO
The CIA whistleblower took to Twitter to issue a "final warning" on Bitcoin privacy, amid a widespread U.S. crackdown on privacy projects. Read more: https://t.co/RN1g4fXD1U
The United States government is cracking down hard on the industry - including bitcoin and self custody… and tax evasion from people who opted out of citizenship. Scary times, explained by @MetaLawMan https://t.co/TxFI2PEXjh