The Government Wants to Turn Blockchain Firms into Servants of the State

Blockchain surveillance (BS) companies have emerged as significant entities in the crypto domain.

  • They develop software to collect and interpret public data on blockchains, catering primarily to governments and financial institutions.

The operations of BS companies are often opaque, with proprietary software and heuristic rules developed in secret. This lack of transparency can lead to legal complications, especially when users are accused of illicit activities based on uncertain data.

  • For instance, the case of Roman Sterlingov highlights the potential dangers of relying on inaccurate blockchain surveillance tools.
  • Additionally, the business model of BS companies raises ethical concerns as they profit from selling potentially unreliable, closed-source software that governments might use against their citizens, undermining financial privacy and freedom.

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