New FinCEN regulations will label you “guilty until proven innocent “ for using any cryptocurrency privacy tool w/ Seth for Privacy – Monero Talk

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TODAY’S SHOW: Douglas Tuman interviews Seth for Privacy, a Privacy tech advocate and Head of Strategy and Marketing for Foundation devices.

The two discuss Seth’s Freedom.Tech article on the extreme proposal fincen announced last week to extend the patriot act to include all cryptocurrency privacy tools.
Doug and Seth breakdown Fincens proposed regulations. Discussing the false justifications they cite, the potential implications on the financial institutions that will have to comply with these regulations, the impact on the users of crypto privacy tools, what privacy tools the regulations as written cover, including whether Monero is one of them, the suspected real reason why fincen and legislators are motivated to attack crypto privacy tools, and ultimately why Monero users and the wider crypto privacy community should be optimistic and focused on opting out and building out a parallel economy outside of the State controlled fiat system.

⏱Timestamps:
(00:00:00) Intro
(00:02:00) Seth’s work recently, freedom.tech
(00:07:05) FinCEN’s proposal to extend the PATRIOT Act to crypto privacy tools.
(00:19:15) The broadening of the term “Mixing”
(00:28:10) Prosecuting everyone for the illegal action of a few
(00:33:40) The justification of “bad people use privacy tools”
(00:43:30) Pushing back on the government’s narrative
(01:00:44) Chainalysis’ symbiotic relationship with the government
(01:05:43) How this proposal would affect the average Monero user
(01:11:12) The claims about terrorism funding
(01:23:00) Making a parallel economy with Monero and closing remarks
(01:27:40) Outro

LINKS:
WEB: https://freedom.tech/patriot-act-comes-to-cryptocurrency/
TWITTER: https://x.com/sethforprivacy?s=21

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