What the GENIUS Act Could Mean for Privacy and AML
summary
Treasury RFI from August 18 (mandated by the Genius Act Section 109) asks about APIs, AI, blockchain and digital identity; 114 comments exist and the public deadline is tomorrow. Proposals range from short‑term adoption of mobile driver’s licenses and verifiable credentials for onboarding to a longer‑term “identity trust” that issues reusable, privacy‑preserving claims using zero‑knowledge proofs or MPC. Warnings emphasize centralized honeypots (Equifax, OPM), real cybersecurity risk, and the need for explicit developer protections after DOJ prosecutions of privacy tools despite prior FinCEN guidance.
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chapters (9)
- 0:00Introduction and Panelist Introductions
- 2:39Overview of the Treasury Department's RFI
- 3:25Discussion on the Genius Act and Its Implications
- 4:39Potential Impact on Government Policies
- 8:23Panelists' Comments and Recommendations
- 12:33Technical Aspects of Digital Identity
- 25:17Developer Concerns and Protections
- 29:14Audience Q&A
- 38:29Conclusion and Final Thoughts
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