After reading more than 300 pages of congressional transcripts from 1968-1970, I finally found the first instance in which someone said the Bank Secrecy Act would harm financial privacy. Clifford Sommer (American Bankers Association) urged Congress to reconsider what it was doing. Not a single witness before him (albeit, all government officials) seemed to be concerned about the Fourth Amendment or people's privacy.

The New York Times points to the absence of interest payments on stablecoins as a negative. Yet, what it doesn't point out here is that it was _Congress_ that prohibited stablecoins from doing that.

Congratulations to @Ayelen, @ZacG, @ck, @gladstein, and the whole @HRF team on 100 editions of the Financial Freedom Report. If you're not signed up, this is one of the few newsletters I read from top to bottom.

Human Rights Foundation

Financial Freedom Reports

HRF’s Financial Freedom Report is a weekly newsletter that exposes how authoritarian regimes weaponize money—and how Bitcoin and other freedom ...