Alan Scott, the head of a company specializing in developing protocols for the privacy of private transactions, has stated that the Federal Bureau of Investigation (FBI) does not plan to actively combat privacy in cryptocurrencies. According to him, high-ranking FBI officials are more focused on combating financial crimes rather than restricting the use of technologies that provide transaction anonymity.
Focus on Combatting Financial Crimes
At an event where Scott presented his company, he noted that the FBI consists of experienced and competent professionals who understand the importance of protecting citizens’ rights from crimes. He emphasized that the bureau is not interested in banning privacy technologies but rather in finding effective ways to combat fraudsters and criminals. In Scott’s opinion, it would be extremely dangerous if privacy technologies in cryptography became illegal, as this could lead to the creation of a powerful surveillance system for all financial operations, posing serious issues in terms of data protection.
Challenges in Financial Security
It is worth mentioning that at the end of April, the U.S. prosecutors charged the co-founders of the cryptocurrency wallet Samourai Wallet, which offers transaction mixing functions. The businessmen face up to 25 years in prison on charges of money laundering and illegal financial operations. Despite this, Scott is confident that the FBI is not seeking to undermine the foundations of privacy in cryptocurrencies but is focused on addressing more pressing issues in financial security.
