It’s absurd that American authorities can purchase personal data – that they’re not allowed to gather themselves without a warrant – directly from data brokers. This violates the Fourth Amendment, and it’s time to close the data broker loophole.
Today, @RepThomasMassie, @RepBoebert and @naomibrockwell at the @LudlowInstitute introduced the Surveillance Accountability Act. It requires warrants based on probable cause for all government surveillance and data access. You can read more about it at https://t.co/iFX17ELSLA
Your guide to understanding digital ID and age verification:
- Protect children = surveil adults
- Completely anonymous = upload ID
- Age-appropriate content = government-approved filter for everyone
- Privacy-first verification = centralized biometric database
Samourai Wallet co-founder Keonne Rodriguez cared so much about the true meaning of cryptocurrencies and the fight for financial privacy, that he gave an interview 48 hours before he was scheduled to report to federal prison, which was now published by @reason:
"There has never been another time other than the last several decades where the government or corporations could just peer into your finances [..] I think they should have to defend that to us, not us have to defend private transactions to them."
Free Keonne Rodriguez!
Folks, we told you this was coming, and today the mask is fully off.
A couple weeks back we reported, based on solid sources, that Coinbase was quietly lobbying to kill a real de minimis tax exemption for Bitcoin while pushing one that applied only to stablecoins like USDC. We laid out the clear incentives in our deep dive. Coinbase made 1.35 billion dollars in stablecoin revenue last year, up 48 percent year over year, almost entirely from yield on the Treasuries backing USDC.
A proper Bitcoin de minimis would let people spend sats on everyday purchases without triggering taxable events on every transaction. That directly competes with their centralized yield machine. We called it what it was. Policy that protects Coinbase’s float rather than advancing neutral Bitcoin adoption.
Brian Armstrong pushed back hard. He called our reporting totally false and misinformation while insisting he was personally lobbying for Bitcoin de minimis. Some accused us of lying or spreading rumors. We stood firm. We offered to have Brian on the TFTC podcast to clear the air. We waited.
Now the latest draft from Reps. Horsford and Max Miller on the updated PARITY Act framework has dropped. It confirms exactly what we warned about. It gives a de minimis exemption to stablecoins but leaves Bitcoin out entirely. It keeps the punishing double taxation on Bitcoin mining fully intact while carving out relief for passive validation, basically staking. This is not an oversight or sloppy drafting. It abandons any pretense of technology neutrality and deliberately picks winners. Dollar-pegged stables and staking get the breaks, while actual Bitcoin usage as money and Proof-of-Work mining get kneecapped.
Without de minimis for Bitcoin, every small Lightning payment or sat transaction still forces cost-basis tracking and IRS headaches. Paying your plumber in sats or grabbing lunch with Bitcoin remains a taxable event. Stablecoins, being pegged and low-volatility, get an exemption they barely need. The real beneficiary is protecting that massive USDC reserve float and the yield it generates.
Meanwhile, American Bitcoin miners, already operating in one of the toughest, most capital- and energy-intensive industries, face continued double taxation while staking gets a pass. That is not neutral policy. It is industrial policy against domestic Bitcoin mining at a time when we should be leaning into energy abundance and securing the hardest monetary network.
The Bitcoin Policy Institute is releasing a full statement soon, and we fully back the call for strong community pushback. Every Bitcoiner needs to contact their reps and make it politically radioactive to sideline Bitcoin while handing carve-outs to stables and staking. This language slows real adoption, entrenches custodians, and weakens American Bitcoin infrastructure.
We weren’t lying. Our sources weren’t lying. The draft proves the reporting was on target. Those who rushed to call it misinformation owe the community some honest reflection.
Brian, if you’re still open to that conversation, the invitation stands. Come on the podcast. No spin, just walk us through how this draft lines up with your stated support for Bitcoin de minimis. The mic is warm.
This fight isn’t over. Bitcoin doesn’t need permission, but bad policy can delay sovereign adoption and punish the miners securing the network. We’re here to protect the protocol and the right of individuals to use sound money without turning every transaction into a compliance nightmare.
Stay sovereign. Stack sats. Use Bitcoin as money anyway. Call your reps today.
Just returned home after dropping my husband @keonne off at FPC Morgantown, to begin serving a 5year prison term for a crime he is innocent of. My first instinct was to reach for my phone to let him know I arrived safely. This is a habit I need to learn to break. I’m uncertain when I will next be able to speak with my husband, as it can take several days for inmates to gain access to the phone system. For now, I will simply have to wait.
#pardonsamourai
Tonight is the last time I will sleep in my own bed next to my loving wife. For the next 5 years I will be housed in a federal prison at taxpayer expense for a "crime" without a victim. Just one of many victims of lawfare perpetrated by a weaponized Biden DOJ where truth and justice were sidelined in favor of a political anti innovation agenda. Where evidence was hidden and suppressed because it didn't fit the story highly partisan line prosecutors needed to tell. Where Supreme Court precedence was ignored by activist judges.
Tomorrow I will surrender to FPC Morgantown. I will no longer be Keonne Rodriguez inside that institution, instead I will be a number, 11404-511. But outside of those walls my name will be kept alive. My loving wife, my family, my friends, all of you who have supported #pardonsamourai will make sure of that. I know walking into that institution that the story doesn't end there.
I maintain hope that President @realDonaldTrump is a fair man, a man of the people, who will see this prosecution for what it was: an anti innovation, anti american, attack on the rights and liberties of free people. I believe his team @AGPamBondi@EdMartinDOJ@DAGToddBlanche and others truly want to end the weaponization of the DOJ that the previous administration wielded so effectively.
The framers of our Constitution gave the Executive the power to pardon for exactly this reason, to balance out and restore justice when no one else would. President Trump has proven he takes that power seriously. I believe he will continue to wield that power for good and pardon me and Bill.
Keep up the noise. Thank you all for your support. See you on the other side.
I collaborated w/ Bill and Keone for years. If they lived in the year 1776, they would have been minutemen. They fought for freedom in America and abroad in a completely non-violent way. Securing their pardon would be a victory for Trump admin and America. @AGPamBondi
Update: we smashed 2k! 🎉
Thank you to everyone signing & sharing - this is the time to keep your foot on the gas.
We are going for 100k signatures & need your help getting there. @RealRossU collected over 600k signatures. @hodlonaut raised ~$1.5m fighting CSW.
Bitcoiners have shown up in big ways before & this is again one of those moments where fellow financial freedom fighters have been struck down & we need bitcoiners to answer the calling, not leave Samourai Wallet behind.
The @SamouraiWallet developers created a tool improving privacy for bitcoin on-chain use, similar to cash. Users held control of their own funds.
Prosecutors ignored FinCEN guidance and concocted an unreasonable legal theory of liability to charge them both with breaking money transmission laws despite the tool never taking custody of the funds.
Facing millions in legal costs, 25 years in prison, an overzealous and unfair prosecution, and a Judge with no patience for understanding the broader legal and technical arguments, the developers were essentially forced to plead to lesser charges of "conspiracy" for the sake of their families.
Now, both developers have one month before they are to turn themselves in for 4+ years of incarceration, all for creating a piece of open-source code that allowed people to do want they wanted with their own money.
This prosecution is an unwarranted and unjust process of law that will be looked back on in shame. Every legal tool or resource should be dispensed in order to free them and reverse the dangerous precedent this sets for privacy and financial sovereignty.
Privacy is not a crime, and open-source developers who empower users are not criminals.
Many wealthy and powerful people today use bitcoin and cryptocurrencies to safeguard their wealth and benefit from a real-time settlement network without intermediaries. Every consumer benefits from better tech tools that allow them to take control of their money and spend how they wish.
If people of influence understand and appreciate the broader ethos of the Bitcoin and crypto revolution, rather than trading and getting rich off fees from their shitcoins, they should advocate for both the pardon of these two individuals and for legal safeguards in federal law to ensure this never happens again.
It is not just two these people's at stake, but it's the future of how Americans will interact and benefit from technology going forward.
#freesamourai @keonne@SamouraiDev
It would mean a lot if you would sign this petition calling on @realDonaldTrump to pardon me and Bill
In 30 days we will report to prison. Unless the President steps in.
Developers shouldn't be liable for the actions of bad actors using their software
#freesamourai
https://t.co/xQNGAVlu3r