Cryptocurrencies such as Bitcoin are promoted as decentralized and pathways to independence and financial privacy. But governments around the world are seeking to extend total control over all trading of crypto.
The SEC now requires that all persons who purchase or own over $3,000 of cryptocurrency be identified by Social Security Number, name and home address. In practice, this means that crypto platforms all require SSNs and identifying information for everyone who signs up to own or trade the currencies.
Now the government is seeking even more knowledge and power over crypto. The SEC is even suing Ripple and seeking to designate Ripple and XRP as “securities.” See here.
