Regulators want to apply cash rules to crypto, even if it means tracking everyone

The Bank for International Settlements wants to apply the same anti-money laundering rules to crypto that currently apply to cash. This means governments would track who sends and receives crypto payments, just like they track large cash transactions.

For decades, cash offered a way to pay for things without leaving a digital trail. Crypto promised the same, but with global reach. This paper suggests that regulators want to close that gap, forcing crypto to adopt the same surveillance rules as traditional finance. It means the idea of truly private digital payments is becoming harder to achieve.