Crypto Privacy Battle: US Businesses to Collect User IDs on $10,000 Crypto Purchases Sparks Controversy

08/06 01:05

US businesses will soon be required to collect personal information, such as name, address, and government ID, from individuals using over $10,000 worth of cryptocurrency for purchases. This has sparked a privacy battle in the crypto industry, with Coin Center suing the Treasury Department over concerns of unconstitutional surveillance. A judge dismissed the lawsuit, citing its premature nature, but Coin Center has appealed the decision.
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