I wrote about an absurd proposed piece of legislation 5 days ago at https://bit.ly/2VwfKhN. If passed, a new bill under consideration in the U.S. Senate will destroy personal, corporate, and most other private online communications. It will be a gift to credit card thieves, identity thieves, Facebook’s advertisers, as well as to local and foreign governments alike. In short, the bill proposes requiring “back doors” in all encrypted communications created by U.S. residents and then making the keys for those back doors to the U.S. government.
Of course, as the CIA has provem recently, once the government obtains access to anything that should be kept secret, the information will sooner or later become available to many more people other than to government employees. It will be just a matter of time until the “keys” to unlock these communications will be leaked far and wide, including to hackers, thieves, all governments, web sites that plaster your online time with advertisements (“cough* Facebook *cough*), and who knows who else? Also, what will they do with this information?
Simon Black is a well known blogger and expert on privacy issues as well as several other topics, especially including financial issues. He has written a great article describing just some of the problems this proposed legislation will create.
In short, he says this legislation will make one of the most exciting and forward-looking financial inventions of the recent past illegal. At least, it will be illegal in the United States but most other countries will be allowed to continue to use cryptocurrencies and to create even more financial advances as their citizens will not be shacked by ridiculous laws that will make private communications impractical. In short, if passed, this legislation probably will hasten the US decline into a third-world country.
You probably will want to read Simon Black’s article at https://www.sovereignman.com/trends/under-this-new-law-cryptocurrency-could-become-illegal-28066/ and think about it for a bit. Is this REALLY what you want your government to become? A spy that monitors the communications to and from EVERYONE?
If passed, this legislation will convert the USA into a spying government modeled after China, Russia, several Arab countries, North Korea, and every other country ruled by a despotic dictator.
Yes, George Orwell predicted this many years ago.