The U.S. government has acknowledged monitoring the progression of cryptocurrencies. However, Bitcoin’s transparent public ledger and pseudonymity may allow it to fly under the radar.
U.S. GOV’T MONITORING BITCOIN SINCE BEGINNING
CSRA Inc., which provides information technology services to the U.S. Department of Homeland Security, has confirmed to Newsweek that Bitcoin was under surveillance as early as its initial development. The biggest concern is that the peer-to-peer, trustless monetary network may lead to an unprecedented creation of an absolutely anonymous one. If a truly anonymous money is invented, authorities fear that terrorists and criminals can bypass conventional financial safeguards and fund their illicit activities.
However, the U.S. government is not completely against cryptocurrency. It seeks only to prevent those with absolute anonymity from infiltrating the financial system – should the need arise.