The Government Wants Your Crypto Data. And Lots of It.

Posted on July 29, 2020 12:17 pm
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URL https://www.newswars.com/the-government-wants-your-crypto-data-and-lots-of-it/ 

The Venezuelan government recently announced that its Administrative Service for Identification, Migration and Foreigners (SAIME) is now accepting bitcoin as a payment method for passports.

The problem with that is that bitcoin is not anonymous but pseudonymous.

To interact with any government using bitcoin is to reveal to them the wallet you are paying from. The blockchain is public. When commentators like Caitlin Johnstone and Stefan Molyneux or organizations such as the Mises Institute or TOR Foundation ask for bitcoin contributions, one can follow the money with a blockchain explorer to see how much comes in and how it is spent. One can also see who gave it to them if a donor hasn’t exercised some

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