Oct. 26, 2023
" In the United States, the principles of personal freedom and privacy are not just cherished ideals but are also enshrined in the constitution. This established cultural and legal backdrop renders the prospect of a governmental body gaining unbridled access to a citizen's digital or cryptocurrency wallet a matter of profound ethical and legal disquiet. Although the obligation to report global income for tax purposes is a well-established citizen's duty, the intrusion of governmental bodies into the minutiae of every financial transaction treads on precarious ground, shifting from mere regulation into the territory of invasion of privacy. Such unfettered access raises acute concerns, as it undermines the foundational principles of freedom and privacy that are crucial in a democratic society. This isn't a theoretical risk but one with tangible, far-reaching implications that could encroach upon other areas of individual freedoms. History provides sobering lessons in the dangers of excessive governmental overreach into individual finances and assets. For instance, the invasive policies of the Third Reich, specifically the 1938 'Decree for the Reporting of Jewish-Owned Property,' serve as a poignant warning. In that regrettable chapter, the mandatory registration of property and assets was but a precursor to unimaginable horrors. Whilst today's context is dramatically different, the essential warning about governmental encroachment into personal financial matters should not be ignored. In summary, whilst tax compliance is undeniably the responsibility of the American citizen, it is of paramount importance to maintain a balanced scope of governmental oversight. This ensures that it neither compromises the deeply-held American values of freedom and personal responsibility nor neglects the cautionary tales history has provided about the loss of personal freedoms through unchecked governmental intrusion.” In short no entity should have access to my digital or cryptocurrency wallet. Kolin Cunningham An American Citizen