When "crypto enthusiasts" talk about privacy some people think they just mean the usual confidentiality expectations of conventional banking. But banks are requ

When "crypto enthusiasts" talk about privacy some people think they just mean the usual confidentiality expectations of conventional banking. But banks are required to keep records for accountability. The goal is to prevent money laundering and tax fraud. Cash payments are generally accepted for smaller transactions but anyone accepting large amounts of cash as payment will want to keep similar records to avoid running afoul of these same money laundering laws (unless they're intentionally trying to do a crime). Banks offer confidentiality, these people want complete secrecy. But most of them aren't insurrectionists or revolutionaries who fear political persecution while they try to overthrow the government. They just want to conduct businesses outside the reach of the government. Or to put it simply: they want to commit money laundering and tax fraud without being caught. Don't mistake "crypto enthusiasts" (as in cryptocurrencies) talking about privacy for actual crypto punks (as in cryptography). There's a reason the people rallying for "privacy" in crypto tech are venture capitalists and sketchy wealthy people rather than organizations like the EFF.