🚨 Crypto Privacy at Risk? Senate Bill Sparks Major Surveillance Fears 🏛️💻
A proposed U.S. Senate crypto bill is sending shockwaves through the digital asset industry, as critics warn it could grant the Treasury Department “Patriot Act–style” surveillance powers over crypto users and platforms. Leading crypto research firm Galaxy Digital has raised serious concerns, sounding the alarm over what it calls a potential threat to financial privacy and innovation.
🔍 What’s in the Senate Crypto Bill?
According to analysts, the bill aims to expand the Treasury’s authority to monitor crypto transactions in the name of national security and anti-money laundering (AML). While supporters argue it strengthens oversight, critics say the language is broad and intrusive, allowing regulators to track wallets, transactions, and decentralized platforms with limited transparency.
⚠️ Galaxy Warns of Overreach
Galaxy Digital cautions that the bill could undermine one of crypto’s core principles: financial freedom. By introducing sweeping surveillance measures similar to those used after 9/11 under the Patriot Act, the legislation may push innovation offshore and discourage institutional adoption.
🧠 Industry Pushback Is Growing
Crypto advocates argue that excessive regulation could:
Drive users toward unregulated markets 🌍
Stifle DeFi and on-chain innovation 🚫
Set a dangerous precedent for digital financial surveillance 👁️
Many believe smarter, more targeted regulation is needed—one that balances security without sacrificing privacy.
🔮 What Happens Next?
As the bill moves closer to debate, pressure is mounting from crypto firms, developers, and civil liberty groups. The coming weeks could be critical in shaping how the U.S. regulates crypto—and how much control the government holds over digital finance.
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#USSenate #DigitalAssets #CryptoCommunity 🚀
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