For once, the Government seemed to have a better understanding of what privacy entails than some of its event participants.

On Monday, the Securities and Exchange Commission held a roundtable on Privacy and Financial Surveillance focused on cryptocurrencies. It was an interesting event, mainly because some the strongest supporters of financial privacy protections seemed to be sitting not in the discussion rounds, but at the helm of Government.

With a few notable exceptions, several of the participants instead appeared to mistake privacy as a product to sell the private sector for compliance purposes – which, of course, is a fundamental misunderstanding of what is at stake.

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