UN Cybercrime Treaty Could Lead To Widespread Crypto Surveillance Around The World

Article 93 of the draft treaty would require all nations that sign the treaty to implement onerous financial oversight laws for cryptocurrency. These financial oversight laws would apply to any organization “engaged in activities related to the circulation of digital financial assets and digital currency,” even if it bears no resemblance to a traditional financial institution. As the dangerously wide Digital Asset Anti-Money Laundering Act introduced in the US Senate, this incredibly broad language could be interpreted to include software developers, custodial and self-hosted wallet providers, miners, validators, nodes, non-fungible tokens non-fungible (NFT) trading platforms and even users.