The cryptocurrency advocacy organization DeFi Education Fund (DEF) urges the U.S. courts to consider the uniqueness of blockchain technology when evaluating the privacy rights of cryptocurrency users under the Fourth Amendment of the U.S. Constitution.
On October 20th, DEF submitted a friend-of-the-court brief to the U.S. Court of Appeals for the First Circuit in support of James Harper's appeal against the Internal Revenue Service (IRS) to prevent unrestricted government access to users' transaction history on cryptocurrency platforms.
Harper, one of 14,355 Coinbase users, had his data turned over to the IRS by the cryptocurrency exchange following a court order in 2017, sparking a struggle for stronger digital privacy rights.
DEF is proud to support the industry by filing amicus briefs in precedent-setting cases, such as Harper v. IRS, which involves a John Doe subpoena to Coinbase that resulted in over 14,000 users’ private financial information being sent to the IRS. Our CLO @amandatums breaks down… https://t.co/JidwyPMzcj
DEF believes that the Fourth Amendment needs to be revised to rebalance law enforcement's investigatory powers and individuals' financial privacy rights in the digital age.
The Fourth Amendment of the U.S. Constitution is intended to protect people from unreasonable government searches and seizures.
DEF also cites the case of Carpenter v. United States, arguing that the Fourth Amendment is intended to limit the U.S. government's ability to obtain data from third-party platforms like Coinbase.
The advocacy organization further explains that because cryptocurrency transactions are traceable on public ledgers, it is possible to link real-life identities to their pseudonymous addresses.
This affects the livelihoods of all 14,355 users in the Coinbase case. DEF explains:
DEF adds, "This gives the government a 'comprehensive, encyclopedic' view of Mr. Harper and the other 14,354 users' entire lives." DEF says.
This right given to the government to monitor users far exceeds what traditional bank records could provide.
4/ We argue that the Court must take into account core differences between crypto technology and TradFi because blockchain data provides the government with an intimate view into a person’s financial life in the past, present, and future. pic.twitter.com/KORSLRhqNY
The mission of the DeFi Education Fund is to help policymakers understand the benefits of decentralized finance and achieve regulatory clarity in the DeFi ecosystem.
The final ruling in the case of Harper v. Werfel and the Internal Revenue Service is expected to set a precedent for digital privacy rights and law enforcement measures in the United States.
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