Bitcoin Forum

The US is one of the countries with the largest crypto market in the world.  we all know that since the previous president's leadership, the US is very unfriendly to privacy, with the freezing of rules from the previous rule makers as if it is giving fresh breath to businessman and crypto traders. 


it was written that the new presidential administration will conduct a "review" of the previous policy proposal.  Do you think the new US government has a chance not to implement that rules?

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https://twitter.com/jchervinsky/status/1352048684725317632?s=20
https://markets.businessinsider.com/currencies/news/biden-freezes-new-regulatory-proposals-including-proposed-crypto-rule-2021-1-1029989717

Until and unless they do something and it brings good effects in terms of privacy I do not think that we can make any statement in that regards. But for sure they would be better off than Trump.

**It's just a proposal right now**

Plus this would not only be good for cryptocurrencies but I do think that this could change a lot of rules and regulations which pry inside people's wallet for no reason. But at the same time I do think this might just be a move to promote the new digital dollar that the US is thinking of launching and they might like people to think that they would be giving the same benefits and privacy as available in cryptocurrencies like Bitcoins.

If they are successful in battling the issue of providing people with privacy I do believe that more countries will take a note from them and would try and follow their lead.

We cant tell until the decision would be final, they are still in review which means possibilities on continuing the previous administration bill towards crypto issue will neither continue or not.

I wouldnt be surprised though if they would still be sticking out on what the past administration had set out towards it.This doesnt only limit out on US but also in other countries
as well on where government would always be on the negative side of things when we do talk about privacy.We know that they do love
to track out everything and to those things who do really gets out the radar would really be unpleasant into their eyes.

Just based on the above quote, it looks like Biden is just taking a wait-and-see approach to things he probably doesn't know much about--and remember, he has to unfuck a lot of what Trump fucked up in the country and that's going to take some time.

But privacy?  Sad to say, but it's dying.  Not just in the US but all over the world--look at how many CCTV cameras England has, and how much power the governments of N. Korea and China have over their citizens' data.  Unless people revolt, that trend isn't going to reverse itself, and in order for people to revolt, they actually have to care.  Seems to me like most people don't give two craps about their privacy.  Look at all the stuff people post on FB and other social media sites.  You think the government/law enforcement isn't watching all of that?

I see many today who hate corporations. They hate US big tech and hate billionaires. They derive all of their information and views from mainstream media.

Who owns mainstream media? Corporations, US big tech and billionaires.

....

Whatever ones stance on privacy.

I hope they do not intend to -fight- corporations and billionaires. By believing everything mainstream media outlets like CNN or fox news say.

Even most social media accounts and internet influencers are owned on some level.

That is what you get when younger generations elect the older generation to lead the country that they are living in, they would need to catch up to speed if they want to learn something new. 4 years will not be enough to undo all of the damage.
Have to say that it is already dead, proponents of privacy have long been gone and the remaining ones are living on the mercy of the people that still value their privacy. I already accepted that my data has been sold to companies around to world to bombard me with ads, the only way to be a private person is to live off the grid. The government does not watch all those things but they are gathering it nonetheless to help them in the future in the case that they need to profile you, if they were to watch those, I feel like we should have seen a rise in the cases of cyber extortion.

USA was never privacy friendly in the first place, remember Edward Snowden, Julian Assange, Gary Webb and other journalists and whistleblowers killed by CIA. We are living in a dystopian future and the media is feeding us the lies that this is the utopia that we have been longing for.

Based on the final decision of Biden's inauguration, there are several post-practice points at the heart of Biden's policy that invalidated some of the rules and agreements made by Trump during his tenure. the impact of cryptocurrency will increase slightly to get the ideal position. besides that Biden's subordinates among those who contributed to Ripple have approached his seat. will there be some kind of new breakthrough? I'm really looking forward to it.

Reviewing of the previous government proposal policy is what every new President elected do. I assume Biden will behaved more mature than Trump cause he seems to be understanding but I don't see him supporting privacy coins though he will still be fair with it while he dont see Bitcoin pseudonymous treat cause his new stimulus offer shows he's more concerned about people affection.

This is a concern because the US is still a country that many countries emulate..

Looks sad but this is imperfect British and Chinese, they (government) say this is for the good of all citizens there.. "what..watching is goodness?"

salute with many people's struggle for privacy nowadays, look at how many users left WhatsApp when they announced KYC plans.  We need more and more people to turn against the big tech companies that don't respect user privacy..

talking ripple!!  yap must be monitored..

i was hoping for this sort of delay since the new treasury/FINCEN regulations were obviously being rushed through at the last hour.

unfortunately, this doesn't mean they won't be implemented at all. in fact, if i had to guess, the final versions will probably be worse once biden's team gets through with them. but at least we'll have some more time (weeks/months?) before they go into effect.


the writing is on the wall. the USA complying with the FATF travel rule is only a matter of time. the biggest question is how low the reporting threshold will be.

The US hasn't been privacy-friendly for a long-long time. There's a high chance that this law will be passed in some form, but there has been quite a backlash against this law, so this will likely be taken into consideration, and I hope the new regulators will realize that it's just impossible to do KYC on self-hosted wallets, this rule will achieve nothing. The US seems to at least somewhat care about the opinion of business, so maybe the law won't actually pass, or at least will pass in a weakened form.

There's likely no government in the world that is privacy-friendly at this point. With the tech developing and advancing at such a creepily-fast pace, privacy is gonna be a thing of the past sooner than we think. Biden and his team will not be privacy-friendly either. What they might do is just abolish their plans only to introduce even more surveillance & control, but camouflaged in a better way. That's it.

It is like that they have to take time to study it first whatever the implications that it can bring or, they don't have much time for it to study right away and that's why they're asking for an extension. It can be a good news for now because they've delayed it.
But what if the next news that would come from them will be stricter than Fin Cen?

Actually they are more concern about their private life than the privacy of the public so I’m really doubt that the new administration will in favor more on the privacy of their constituents. The election was done already and this is the time to work on their promises, its too early to speculate by I hope this new administration will deliver the good thing and make the America great again.

I cant imagine any USA president to go to toilet and keep doors open. Or to swap white house walls with glass. Privacy is incorporated in western worlds society. No transparent ledger money will ever be mass used. It can be in China. It can be in North Korea. It will not happen in Europe or USA.

I hope the new president, Joe Biden, can be friendly to crypto, this will certainly have an impact on the crypto market around the world. crypto in the US is now in joe biden's hands, if joe biden can apply lucrative rules, it looks like a crypto boom will come soon

I also read very often about the development of news about crypto since President Joe-Biden became the number one person in the United States.

Interesting thing and I don't think it's surprising that Biden will become fully involved in crypto in the US.
In the Archive joe-biden document before the election took place, Biden received full support from the CEO.

Archive joe-biden. (https://www.coindesk.com/tag/joe-biden)
https://zizihub.com/d5ac63.jpg

So after all that happened, it is very natural and positive that crypto in the US generates a good response from Biden as is happening today.

Biden to pick blockchain scholar to head SEC regulator (https://www.aa.com.tr/en/americas/biden-to-pick-blockchain-scholar-to-head-sec-regulator/2108815)

Biden administration could be friendly to crypto (https://www.google.com/amp/s/finance.yahoo.com/amphtml/news/biden-administration-could-be-friendly-to-crypto-133101753.html)

The two news shows that crypto in the future, especially in the US, will have a perfect fate.

I'm pretty sure Biden will do as much as he can to reverse as much of Trump's foolish legacy, he can. Trump when tweeted how Bitcoin was a fraud and he trusts only the US dollars, it's not going to be a surprise if Biden becomes exactly opposite of it since the base of his campaign started from removing Trump. So, thinking optimistically about it, I'm sure Biden will have a much softer stance on crypto regulations ;)

Four years will not be enough to undo all the problems that Trump had incurred at that time period, not to mention that Joe Biden is old and I do not think that it will be on his best interest to improve the country for the future. Do not believe what these politicians says, those who believe those promises also thinks that the prostitutes they hire are in love with them, everyone will say what makes them favorable remember that.

If he can do that, I think crypto will become more popular than now, and we will see the mass adoption will grow more. But maybe in these situations, Biden will concern this pandemic and try to solve the problem and help the people who get affected. But no matter if Biden will become friends or not to crypto, the mass adoption in crypto will come by itself because people will see if crypto can give them benefits or not.

It's just a simple decision and as far as I know it's not confirmed yet. Since Biden didn't start to work and make important decisions yet. We do need to wait for the confirmation to  sure this gonna be happen. However, Biden seems to be more bitcoin friendly than Trump, not specifically himself but there are some bitcoiners between his cabinet I guess. That's why during this time after Biden started to work the bitcoin price can rise more and there will be more interest between people. However, these are just some theories and we need to wait to see what gonna be happen.  

If they can do that, it will be much better. Although I still think there are people who are going to misuse that word, ‘privacy’, if it’s given to them. I think it’s always good to consider both sides of things before making a decision. I will be happy if they will do anything that will help promote cryptocurrency in any way possible.

Let’s wait till they have reviewed the rules and we will see what action they are going to take, that will help us know for sure what kind leaders they are, and whether the next four years of their rule is going to favour crypto or not.

They will still continue what was started, they all see crypto to be regulated and there will be no privacy for it. All governments right now are up to regulated the cryptocurrency market, if people manage to profit from any investment they have the government will do everything they can to take what they could that belongs to them.  Biden is no different.

The new president is more emotionally stable than the previous president (this is a very good advantage). Although he may not support cryptocurrency, he at least maintains a neutral attitude.

I don't think any president should be expected to increase anonymity in any area of the Internet. The president is just a person appointed as the head of the country, and those who actually rule the world are always in the shadows. In general, there is a tendency towards an increase in government control and a decrease in privacy and anonymity on the Internet, some laws are constantly being adopted in this direction, and so on. We are all being prepared for digital slavery.

I'd still take Biden any day compared to Trump, at least the guy had the guts to ensure that something he would like to impose a rule on is researched well and not just be thrown a cease and desist order on. After all anonymity doesn't equate good internet environment. At times it's much more adequate to have some form of identification, now what they do with our information, that I don't want to delve into this topic anymore.

It's not even a matter of who really runs the state according to all sorts of conspiracy theories. The president, like any government official, is a representative of the state system, and the state is always interested in having as much information about its citizens as possible, and unfortunately, at first, some elements of the so-called digital slavery cannot be avoided until there are tools to combine the interests of an individual citizen and the state for mutual benefit.

Biden is a Communist and all Communists like to tax as much as possible. Look at what happened to the US's healthcare under Obama.

Biden's Treasury Secretary, Janet Yellen, said "crypto should be curtailed" and it is "mainly used for illegal financing". This does not sound good for Bitcoin:
https://www.msn.com/en-us/money/markets/janet-yellen-suggests-curtailing-cryptocurrencies-such-as-bitcoin-saying-they-are-mainly-used-for-illegal-financing/ar-BB1cVd1R

The crypto market tanked on the news. Monero was especially hurt.

Yellen used to run the Federal Reserve and she will continue the marriage of the Federal Reserve and the Treasury that began under Trump (https://finance.yahoo.com/news/feds-cure-risks-being-worse-110052807.html).

Crypto competes with the dollar. The Federal Reserve is all about inflating the dollar. Yellen won't like the competition.

My hunch is that Biden/Yellen will not be friendly to crypto.

It's too early to speak for most of this actions, presidency is something as a body, even if he is an emotional person, a proper review will be conducted before any legal actions will follow, if the body report otherwise, that's the final decision.
People seems to love Biden perhaps because he is calm but they shouldn't forget that green snake are dangerous. Trump was playful when he came to office and later changed his ways.

It's not a wrong decision to block the proposals until future review.

But IMO Biden's administration is not so privacy-friendly. One of the first goals is to increase taxes. To raise taxes and collect more taxes, you have to know where people hold their 'hidden' money; thus, privacy is a 'bad thing'.

Biden Is Expected to Keep Scrutiny of Tech Front and Center (https://www.nytimes.com/2020/11/10/technology/biden-tech-antitrust-privacy.html) Issues like antitrust and privacy would remain on the agenda as his administration pursued policies to limit the power of the industry’s giants.

Biden has appointed Janet Yellen to succeed Treasury Secretary, but she made critical remarks this week, saying that cryptocurrencies are “mainly used for illegal financing”

Hell no. Even though I would pick Biden over Trump a million times, both of them are very very against privacy because it is something governments can't allow. Sure you and me could be using privacy so that we can feel a lot more secure and not want to be watched by facebook and whatever else follows us online, however reality is that privacy could be abused by people doing illegal things and that is why every government will always be against it.

Biden will be great for the nation as a whole, democrats are always great for the whole nation instead of just few rich people and minority, they always care about the whole population instead BUT when it comes to privacy neither republicans nor democrats will help you, it will always be something they will fight tooth and nail all together, for them it is a bipartisan issue that they will tackle together.

I see a good thing in this news. If they own it then they control it and US is country of free bets where rich pips can invest almost in any form of assets. Government wont go and impose hard regulations on the crypto for one main reason and that's profitability of rich people! Think closely, if rich people (billionaires) are investing then they would be getting back millions in their bank accounts as profit. For this they will be filing the taxes every year which in turn huge income for the government in first place. The question is why would government go rogue against crypto investors if it is their own profit indirectly? Deep down there has to be portion of government in the crypto world whose making loads of money for their own benefits. 

You really said everything very correctly, but you should pay attention to one point, which indicates that all these businessmen and billionaires you are talking about do not want and do not like to pay taxes. If they can use cryptocurrency for enrichment, then they will have the opportunity to avoid taxation, and in order for the tax service not to find out about this, it is necessary to deprive the state of any control over the cryptocurrency, and this means to prevent the legalization of cryptocurrencies with the help of any resources via KYC.

Another proof that the governments are usually against privacy and free markets. They are also against free speech and supporting big corporations that are censoring or banning people.

Politicians know these corporations have great influence and will not hesitate to use them against their political rivals or other countries. Look what they did to Huawei but when the NSA was spying on German Chancellor it was all fine.

This is not surprising, and in any state, persons engaged in espionage from "evil spies" magically turn into "valiant scouts" if they work in your favor ;) As for privacy, I would like to recall recent stories when the same persons in the service of public bodies oppose privacy, but after being dismissed and joining private companies, they suddenly immediately become ardent advocates of privacy for citizens.

Mnuchin's proposal re: self-hosted wallet and all things involving cryptocurrencies were made on the last minute of Trump's administration. Perhaps it was a last-ditch effort to save some votes on the election and wasn't even thoroughly studied. Most last-minute regulations, laws, policies, and whatnot are reviewed by the upcoming admin. Some of them revoked, some are paused, while others were altered in a way that they see fit. Perhaps that's what Biden is currently doing: making changes on what his admin sees fit on Mnuchin's proposal. This doesn't mean that all of a sudden, the government would be privacy-friendly just because they froze the proposal. Right now, the only thing that we know is that Biden and his admin have a lot of things to tackle first before they get into the grey area of crypto.

Forget privacy-friendly president or parliament or the government overall. It will never happen and I'll explain why:

The three main targets for the politicians when it comes to an advertisement industry is the following: Collect the data, get more information about voters and exert an influence on them. In order to collect information, parties may use their own, special pre-election applications. Sometimes, they directly buy or get data as a gift from the commercial sector. Those, who have more money or connections, can get more information. Collected data gives politicians the possibility to know what voters like or dislike and what kind of messages are more sensitive for them.

To say shortly, information about voters is one of the most valuable things for politicians, they do everything to win the campaign, that's why no one will be privacy-friendly.

Privacy? Do you even have facebook? Then I guess there’s no such privacy anymore because of so many incidents before and even if Biden wants things to be more private, government will still find its way and of course banks will not let you to become more private. Our only of hope is the cryptomarket which I think can’t be regulated by any government, this is the future.

I couldn't agree more.

The word "privacy" seems so unrealistic these days unless you're not interested in the technology we have and just living a very simple life and do your things in your own way to stay off the radar. Not only in Facebook where our privacy is at risk, but to other apps as well that ask to grand access to your medias, contacts, etc. that's why as much as possible, I only install apps that I trusted, but I guess you can't trust anyone in this world except yourself.

Hence, since we don't have any choice, we are still risking our privacy, no matter how cautious we are, there are times that our privacy is still at risk and we don't even know.

Cryptocurrency can't be regulated or banned by the government. But at the same time, they are trying really hard to regulate and control related entities such as exchanges and P2P platforms. One alarming development that I have noticed recently is the tagging of personal wallets by some of the exchanges. This was something like the last frontier. At least I was not expecting the personal wallets to be affected by the KYC craze.

Hopefully, President Joe Biden's policies will be different regarding cryptocurrency, even though it's only now being reviewed, but there is hope
for the crypto community in America. But with regard to privacy friendly, I am sure that not a single country provides this to its citizens. So don't
get your hopes up that president Joe Biden will give privacy to his citizens. Everything now requires documents and CCTV is everywhere, even
some intelligence has tapped the cellphones of their citizens. So forget about privacy friendly, the most important thing is to hope that President
Biden's policies are better than Trump's.

It sounds like "fish for being caught" do you understand that? Biden and his team are people who approved and almost supported Trump's ban on the Internet, and guys like Google and Amazon are only too happy to please the hand that feeds them.
You will see that you are wrong - Biden will submit changes to the address of cryptocurrencies and other non-classical assets, while at the same time taxing all income from them with huge taxes. If that's what you call privacy protection, then you've already fallen into that trap.

:-) we just all need to email the 4th amendment to each other so our government can finally read it (-:

I agree, these nations and governments do not give citizens the privacy rights, not in USA, not in UK, not anywhere in the entire world. If you give citizens privacy and let them do whatever they want, there would be freedom and that freedom would allow more people to rise to power and if more people rise to power that means it would be impossible for governments and politicians to keep their power and they can't handle that knowledge.

They will do whatever they can to monitor every citizen as good as they can, using all kinds of technology they can, just so they can keep a finger on whats going on with the world, if they can do that it would mean that people would be allowed to actually care what governments have to say because they are tied to governments due to not being truly free. Politicians all around the world wants this and they will not give you privacy.

Let us all just wait and see if the present President would love it to become privacy friendly since it seems that he is still studying the proposal if will serve long term advantage or not. When it comes to the privacy, it seems very real hard to be attained anymore since governments are most likely want to puppet their people getting to know all about their information neglecting personal space and privacy that must be a right of an individual to possess. May the present president do consider maintaining self privacy although hard to be attained but once being proposed and be served will still give even a little hope for people that privacy is still right up there existing on mankind.

If they are in the midst of REVIEW meaning there is no final decision, why not wait for the moment. Because even everyone here will give of their statement, still in the end they will remain speculations due to the decision final will still goes in the hands of the top Superior. So, for now let us not push thing in a hurry.

It should be clear to any person that any state always wants to simplify the work of its law enforcement agencies, at times treating privacy only as an annoying hindrance to its activities. Therefore, we need a balance between the interests of the state and the interests of citizens in matters of privacy, another issue is that every politician and every person has their own idea of the necessary balance. Indeed, it is too early to judge what the president-elect will do in this area, but I think that there will be no tectonic shifts in this area, both in terms of tightening and easing. Also, let's not forget that much in this area is classified information and many actions are not advertised to the general public.

If you are clean, why do you need privacy. I mean full privacy.
Ideally, we need privacy but do you really think we can full privacy on planet earth? I don't think though we may have some limitations.
Because Joe is love by black and white with the first female vice president doesn't really mean he may want bitcoin, even if he, others may not.
Americans want their fundamental human right observe but I don't think all of them feel the same for Bitcoin and its volatility.

Eeehm :o I don’t think that makes them any more friendly to privacy, because what they did is just a normal thing that they are supposed to do, you don’t just go ahead and approve and instate rules that were created by another government when you haven’t reviewed it all to know what it’s really all about.

Don’t forget that the proposed rules by the former Treasury Secretary is not the only rules, there are many of them and when they go through the whole thing they will then decide the ones that they would approve and the ones that they are not. So, it’s best to just chill and wait for when they have approved it, then we will know the direction they are really heading to.

Wealth tax is going to be disastrous for the American economy. Many of the countries which had imposed wealth tax previously had to remove it, because of the damage it did to the economy. The rich are already paying a disproportionate rate of taxation. If double taxation is imposed in the form of wealth tax, then they will just move most of their assets to some other country where the tax laws are more logical. In the end, the overall tax collection will go down. This has occurred in almost all the countries where wealth tax was imposed earlier.