Crypto Privacy Tools Serve ‘Essential Protective Functions’: Report by ChangeNOW, CoinRabbit
A report from ChangeNOW and CoinRabbit argues that crypto privacy tools provide essential financial protection by restoring privacy that exists in traditional finance. It says public blockchain transparency creates risks in three areas: sanctions, corporate secrecy, and personal safety. Under sanctions, ordinary people can lose access to payments and remittances while elites retain workarounds. For businesses, wallet visibility can reveal vendors, payroll, and supply chains. For wealthy holders, visible balances can enable scam targeting and “wrench attacks.” The report also says privacy is not chiefly what prevents law enforcement from tracking crime. Illicit activity remains concentrated at fiat off-ramps, where crypto becomes spendable money, and investigators can still use on-chain analysis, KYC records, exchange cooperation, and stablecoin issuer actions. It concludes that crypto systems should limit default exposure and make access targeted and lawful rather than universal.
