A Freedom of Information Act request has revealed an August 2021 contract between U.S. crypto company Coinbase and U.S. Immigrations and Customs Enforcement (ICE). The contract shows that Coinbase is providing ICE with access to their "Coinbase Tracer" intelligence-gathering tool, which is used to trace blockchain transactions and thwart laundering of funds through crypto tumblers.Cryptocurrency has long been touted as a tool for the unbanked, including those who don't have access to banking because they're undocumented, and for people hoping to operate free from government observation. Coinbase, however, has actively courted government contracts such as this one, which has not won them favor among the more libertarian-leaning crypto enthusiasts.
You are not logged in. However you can subscribe from another Fediverse account, for example Lemmy or Mastodon. To do this, paste the following into the search field of your instance: !technology@lemmy.ml
Subscribe to see more stories about technology on your homepage
If communities can create their own money, they’d be loosing a lot of central power.