{"id":12968,"date":"2025-08-04T15:49:40","date_gmt":"2025-08-04T22:49:40","guid":{"rendered":"https:\/\/jasonsblog.ddns.net\/?p=12968"},"modified":"2025-08-04T15:49:40","modified_gmt":"2025-08-04T22:49:40","slug":"white-house-digital-assets-report-deems-financial-privacy-primary-money-laundering-concern","status":"publish","type":"post","link":"https:\/\/jasonsblog.ddns.net\/index.php\/2025\/08\/04\/white-house-digital-assets-report-deems-financial-privacy-primary-money-laundering-concern\/","title":{"rendered":"White House Digital Assets Report Deems Financial Privacy “Primary Money Laundering Concern”"},"content":{"rendered":"\n

So much for the golden age of cryptocurrencies under Trump. Basically, they want to outlaw any means of giving yourself financial privacy with a public blockchain cryptocurrency, expand BSA reporting, and expand the PATRIOT Act, as well as implementing a digital ID. And outlaw any cryptocurrency that can’t be tracked like Monero or Zcash. If you’re not aware of how little financial privacy you have in the TradFi system, see the second video here<\/a>. And come next year if you use a US based exchange, they will report what you sell to the government with your initial cost if available, but they will also report what you buy and transfer to a private wallet with the wallet address. They’re going to use any means necessary to track your digital assets, and you can bet they’re going to eventually outlaw you moving “tainted” assets to exchanges dominating the offramps of digital cryptocurrencies with abusive regulations. Our hope is the blockchain tracking they claim and provide in court gets exposed for the fraud that it is leading to acceptance of privacy measures, but I wouldn’t hold my breath. And this all fits in with the Mark of the Beast system that is ramping up exceedingly quickly where they will control your ability to buy and sell. And this will all hamper your ability to actually transact with cryptocurrencies, even though they’re superior to the TradFi system.<\/p>\n\n\n\n

https:\/\/www.therage.co\/white-house-digital-assets-report-financial-privacy-primary-money-laundering\/<\/a><\/p>\n\n\n

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The White House Digital Assets Report<\/a> asks the Treasury to finalize a rule that would codify all transactions that obfuscate the source of funds as a “primary money laundering concern”.<\/h5>\n\n\n\n
\"White<\/figure>\n\n\n\n

On Wednesday, the White House published<\/a> its long anticipated Digital Assets Report, clarifying what policies it urges the Treasury to take to solidify its digital assets regime.<\/p>\n\n\n\n

Many expressed disappointment<\/a> that the report lacks clarity on how much bitcoin the US Government owns. Earlier in July, The Rage published<\/a> the number of bitcoin owned by the US Marshal Service based on a Freedom of Information Request, stirring controversies over what was largely expected<\/a> to be a bitcoin stack of ~200,000 BTC. From our reporting, it became clear that the Government’s bitcoin stockpile may be much smaller than anticipated, as reports on the bitcoin owned appeared to not distinguish between bitcoin seized, and bitcoin forfeited. To our surprise, that the US Marshal Service was only in possession of ~30,000 BTC appeared to be such big news, that it even made it onto Senator Cynthia Lummis’ desk<\/a> \u2013 who wrongfully interpreted it as the Government selling off coins.<\/p>\n\n\n\n

Despite its apparent lack of a strategy to establish a Strategic Bitcoin Reserve, the Digital Asset Report is still widely celebrated<\/a> to solidify Trump’s “Golden Age of Crypto,” containing guidance on tax exemptions, Stablecoin regulation, and kind words for self-custody. But a closer look at the report suggests that the coming age of “crypto” may not be so golden after all \u2013 calling for the application \u2013 and expansion<\/em> \u2013 of the PATRIOT Act, the implementation of digital identities for DeFi services, as well as the addition of new sub-categories to the Bank Secrecy Act.<\/p>\n\n\n\n

Finalizing the Patriot Act “Mixer” Rule<\/h2>\n\n\n\n

According to the report, the White House is very concerned with how “illicit actors, such as [Democratic People’s Republic of Korea] and ransomware actors, continue to use mixers to obfuscate and launder funds.”<\/p>\n\n\n\n

In 2023, the Financial Crimes Enforcement Network (FinCEN) proposed a rule<\/a> that would require financial institutions to monitor and report transactions involving cryptocurrency “mixers”. The White House now urges FinCEN to finalize its Biden-era “mixer” rule, which applies Section 311 of the PATRIOT Act to certain cryptocurrency transactions.<\/p>\n\n\n\n

FinCEN’s “mixer” rule would deem any transaction facilitated in a manner that obfuscates the source, destination, or amount involved in one or more transactions a “primary money laundering concern”, regardless of the type of protocol or service used, such as:<\/p>\n\n\n\n