Odaily Planet Daily News: The cryptocurrency advocacy organization Coin Center has a cautiously optimistic attitude towards the future of cryptocurrency regulation in the United States following the recent elections. While it anticipates progress in securities and banking regulation, it also warns that there are persistent threats in the areas of surveillance and tax reporting. Research director Peter Van Valkenburg anticipates that under a government that may be more friendly to cryptocurrencies, the regulatory framework for centralized markets and stablecoin issuers will become clearer. He stated, 'At the institutional level, there is reason to believe that due to Trump's overall supportive stance on cryptocurrencies, the controversial ongoing rule-making will be frozen or even abandoned.' However, the organization remains concerned about aggressive regulation targeting decentralized tools and privacy-focused technologies. Valkenburg pointed out that the challenges are related to IRS reporting requirements, sanctions against tools like Tornado Cash, and lawsuits regarding unauthorized fund transfers. The IRS's 6050I reporting requirement mandates the disclosure of transactions exceeding $10,000, including personal information of the recipient. Coin Center believes these rules equate to warrantless surveillance and is currently challenging their constitutionality in court. The organization is also one of the opponents of sanctions against cryptocurrency mixing tools like Tornado Cash. Coin Center argues that sanction laws should not extend to immutable smart contracts. Finally, Valkenburg noted that lawsuits regarding unauthorized fund transfers, such as those involving Tornado Cash and Samurai Wallet developers, set a troubling precedent. These cases, which the Department of Justice is investigating, blur the lines between software development and financial services. (DL News)