SEC Chairman Paul Atkins warns that cryptocurrency could become a financial surveillance tool

ChainCatcher reported that SEC Chairman Paul Atkins warned at the SEC Cryptocurrency Working Group roundtable on December 15 that if not properly regulated, cryptocurrencies could become a tool for financial surveillance.

Paul Atkins stated that blockchain has efficient capabilities in linking transactions and individuals, which raises concerns about excessive government intervention. He cautioned that treating every cryptocurrency wallet and transaction as a surveillance target could lead to the creation of a financial monitoring system. Paul Atkins also pointed out that a balance can be achieved between national security needs and personal privacy. As traditional finance enters this field, debates over cryptocurrency privacy are receiving increasing attention, and recent criminal cases have also highlighted regulatory challenges.