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Coin Center’s Peter Van Valkenburgh on regulation & crypto

Zero Knowledge

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Is the Stable Act an Act?

The Bank Secrecy Act gives the treasury and FinCEN extremely broad authority to do whatever you think is right from a rulemaking standpoint. And in fact, the power they've been handed to just make rules undergirded by that law from Congress is probably beyond the pale of our constitutional system where we say only Congress makes laws. They can use that power to do almost anything because almost anything as far as surveillance of our financial system could be justified as stopping money laundering or stopping the flow of terrorist funds.

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