Stablecoins and CBDCs and their related issues of privacy and surveillance lead this week's Law Decoded.
Despite the widespread belief that Bitcoin is anonymous and private, Bitcoin and most other cryptocurrencies’ privacy isn’t always good enough by default. Bitcoin’s balances are public, and addresses cannot offer more than pseudonymity. There are some services that can help with masking transactions, but they are not popular and easy enough to gain a large user-base and they also often have fees. Some news about Bitcoin privacy is promising: the implementation of SegWit and the use of the Lightning Network might be first steps in improving privacy. Some developers are focusing on the privacy of cryptocurrencies and developing protocols suitable for private transactions. Today, there are more and more cryptocurrencies that uses different privacy technologies but have their focus on anonymous transactions. Still, popular cryptocurrencies are trying to have the feature of public transactions as they may be used in business banking.
Canadian holding company dumped XMR and ETH to fund its acquisition.12821
The Director of National Intelligence wants to have the SEC’s leader briefed on the dangers of the U.S. falling behind in crypto.14368
“This proposal, if adopted, would prove to be an invasion of privacy."13814
The paper also put forward CBDCs as solutions to high transaction fees and the energy use of mining cryptocurrencies like Bitcoin.6624
The firm claims it will be able to identify XMR used for illicit purposes to support criminal investigations.25553
New and developing research from the International Monetary Fund suggests that central banks around the world need new legal definitions for tokenized currencies.11191
The privacy-focused Oasis Network has completed its mainnet launch, promising to facilitate under-collateralized loans in DeFi.5145
The delisting of Dash and Zcash has some wondering about the future of privacy coins on major exchanges.11874
Privacy should be a key talking point from the beginning of CBDC development.25752
“Dash is technically no more a ‘privacy coin’ than Bitcoin,” according to Perkins Coie. So why did Shapeshift delist it?5078
“Monero aligns with the ideals America was founded upon. It is America 2.0 — a protocol to preserve liberty in the digital age,” said Tuman.6797
An unknown mining group currently controls more than half of the Grin blockchain’s hashing power.5216
Virtual asset service providers in the country will not be allowed to handle “dark coins.”5701
Brave has now onboarded 20 million active users and almost 1 million content creators.5446