What Coinbase’s Partnership With ICE Says About Bitcoin Surveillance

I cant speak for Coinbase or whether it has sent any CTRs, but Coinbase or other bitcoin exchanges might have already sent your details to FinCEN if you have actually transferred or withdrawn more than $10,000 in BTC by means of their platforms in a single day.If Coinbases blockchain monitoring or compliance tools suggest that some bitcoin transaction on its platform is suspicious, its reasonable to anticipate that the exchange has sent a SAR. If you withdraw bitcoin from Coinbase to your noncustodial wallet, Coinbases tool will likely show that transaction leaving Coinbase.IP address security is a large industry on its own. Lots of migrant employees are going to be terrified off by Bitcoins transparency and the millions of dollars being poured into tracing Bitcoin deals annually. Or would this be a net unfavorable, considering that one, many people will use regulated platforms to sell and buy bitcoin with charges anyways, and 2, the large bulk of people will be surveilled by opponent stars (from the point of view of prohibited immigrants) on the transparent blockchain?The answer isnt uncomplicated; there are negatives and positives, and Bitcoin will be the preferred choice for some people. Still, I hope that loud voices in the Bitcoin neighborhood comprehend the challenges and threats associated with ICE viewing every transaction, and that they loudly advocate for much better default personal privacy defenses on Bitcoin to secure the users they say Bitcoin was made for.This is a guest post by Justin Ehrenhofer.

I cant speak for Coinbase or whether it has sent any CTRs, however Coinbase or other bitcoin exchanges may have already sent your details to FinCEN if you have transferred or withdrawn more than $10,000 in BTC by means of their platforms in a single day.If Coinbases blockchain monitoring or compliance tools show that some bitcoin deal on its platform is suspicious, its sensible to expect that the exchange has actually submitted a SAR. Many migrant workers are going to be terrified off by Bitcoins transparency and the millions of dollars being put into tracing Bitcoin transactions annually. Still, I hope that loud voices in the Bitcoin neighborhood understand the challenges and threats associated with ICE watching every deal, and that they loudly advocate for much better default privacy protections on Bitcoin to protect the users they state Bitcoin was made for.This is a visitor post by Justin Ehrenhofer.