The cryptocurrency US dollar can be completely anonymous

The U.S. Treasury is studying how to make retail transactions with digital currency (CBDC) as confidential and anonymous as possible. This was stated by the Assistant Secretary of the Treasury Graham Steele.

However, the question of whether the digital dollar will be launched at all remains open — the US authorities have not yet decided whether to move forward with the development of CBDC.

«It is important to understand the conditions under which the confidentiality and anonymity of CBDC transactions can be maintained and what it will cost us. We are currently exploring available technologies and methods, including privacy enhancing technologies (PETs), to ensure such protection in the development of any potential retail CBDC,» Steele emphasized.

According to the representative of the Ministry of Finance, blockchain technologies can play a crucial role in maintaining the confidentiality of transactions, as well as in ensuring transparency and traceability. However, there are risks. «All of these efforts could have a profound impact on consumer privacy, financial inclusion, fraud prevention, and the changing roles of firms in the financial system,» Graham Steele said.

It should be noted that the possibility of launching a CBDC has been a source of dissatisfaction for several months now. U.S. lawmakers have introduced a bill that would prohibit the Fed and President Joe Biden’s administration from developing CBDCs. The authors of the initiative argue that centralized currencies can be used as a tool to monitor private transactions of Americans.

In May, US presidential candidate Robert Francis Kennedy Jr, the nephew of President John F. Kennedy, accused the US government of trying to destroy bitcoin. Kennedy Jr. fears that the US government will confiscate BTC from Americans after the launch of the digital dollar. The politician said that the cryptocurrency dollar will cause financial slavery.