In the early hours of September 15, Ethereum completed "The Merge – the long-awaited transition from its original proof-of-work consensus mechanism to proof-of-stake.

Later that day, SEC Chairman Gary Gensler pointed to the staking mechanism as a signal that an asset might be a security as determined by the Howey test.

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  • vxnxnt@feddit.de
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    2 years ago

    Crypto makes financial surveillance close to impossible

    Isn’t it exactly the opposite, especially with crypto like Bitcoin?

    • vord@beehaw.org
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      2 years ago

      Fundementally, yea. Cryptocurrency is really just a public ledger. With enough time and computing power, you can trace every transaction ever made. If you identify a wallet’s owner, you can watch everything they do.

      Cryptocurrency is not cash in an envelope.