Renowned whistleblower Edward Snowden issues stark warning on Bitcoin privacy
In a recent tweet, CIA whistleblower Edward Snowden issued a stark warning regarding the future of privacy within the Bitcoin network. Snowden, who has been a vocal advocate for privacy rights, expressed his concerns about the lack of privacy at the protocol level within the Bitcoin network.
Snowden’s warning comes in response to an announcement by zkSNACK, the developer firm of the Wasabi wallet, regarding the discontinuation of its “conjoin coordination service” effective June 1st, 2024. The service, which allowed multiple Bitcoin users to combine their transactions for increased privacy, will no longer be available due to legal concerns in the US.
The decision by zkSNACKs to discontinue the service follows recent regulatory actions in the United States targeting self-custodial cryptocurrency wallet providers. This crackdown has led to several wallet providers, including Phoenix Wallet and Wasabi Wallet, exiting the US market.
Snowden’s warning highlights the ongoing battle for privacy rights within the cryptocurrency space, particularly in the face of increasing regulatory scrutiny. The developments have raised concerns about the future of privacy within the Bitcoin network, with Snowden emphasizing the need for privacy to be a default feature in financial transactions.
As the debate over privacy and regulation in the cryptocurrency space continues, Snowden’s warning serves as a reminder of the importance of protecting privacy rights in the digital age.
