The government’s relationship with cryptocurrency is a complicated one, but it is clear that they are trying to find ways to control and harness its power. In the coming years, we will see more attempts by the government to regulate digital currency, and how successful they will be remains to be seen.
The White House is about to make a concerted effort to regulate the digital asset industry — given the size and growth of the industry, that push cannot come soon enough. Today, there are 18,142 cryptocurrencies, 460 crypto-exchanges and the market cap of cryptocurrencies amounts to $1.7 trillion.
But EFF is concerned that the U.S. government has been increasingly taking steps to undermine the anonymity of cryptocurrency transactions and importing the widespread financial surveillance of the traditional banking system to cryptocurrencies.
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