BitGo co-founder: agreement with FinCEN to extend the privacy policy of the crypto wallet and have a two-way consultation with experts

2021-1-1 01:54
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According to a Coinnews Telegraph report, on December 30, BitGo co-founder Ben Davenport sent a statement to the Financial Crimes Network (FinCEN) regarding the company's regulatory portfolio. Davenport said in a statement the timing of the consultation was too quick, prompting FinCEN public figures to attempt to adopt the new rules without protest, saying he had complaints about the exiting of those rules. Davenport also contradicted the terms of the law itself, claiming that the new law would 1. far beyond existing financial management, 2. have little research power, and 3. push offenders overseas or to places not regulated. 4. The traceability of crypto currency for exchanging information violates the financial privacy of US citizens. 5. Collecting too much information puts Americans at risk. Finally, Davenport suggested that FinCEN continue its policy deliberations, initiate discussions with entrepreneurs and experts, and listen to public concerns.

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