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Alex Palmer pfp
Alex Palmer
@thatalexpalmer.eth
Bank Secrecy Act should narrow its reach to protect privacy in the crypto age. Initially intended to combat organized crime, it expanded to include nearly every suspicious transaction (called SAR). As finance and trade come onchain, policymakers need to recognise that low-value information from financial data overwhelms law enforcement and erodes people’s privacy. https://www.technologyreview.com/2025/06/25/1119324/katie-haun-bank-secrecy-act-oped/
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Sarah Shtylman pfp
Sarah Shtylman
@shodyesq
Another reason to revisit the BSA: the dollar thresholds for recordkeeping and reporting have not increased with inflation. The result is that a scheme originally intended to capture truly anomalous and high value / high risk transactions now captures… just about everything.
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EulerLagrangodamus pfp
EulerLagrangodamus
@eulerlagrange
The problem is the SEC doesn’t have the authority to change any of this.
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