The cryptocurrency advocacy organization Coin Center has a cautiously optimistic outlook on the future of cryptocurrency regulation in the United States following the recent elections. While it expects progress in securities and banking regulation, it simultaneously warns that there are still enduring threats in the areas of monitoring and tax reporting. Research Director Peter Van Valkenburg anticipates in his analysis that under a government leadership that may be more favorable to cryptocurrencies, the regulatory rules 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 involving unauthorized fund transfers. It is understood that the IRS's 6050I reporting requirement mandates disclosure of transactions exceeding $10,000, including personal information of the recipient. Coin Center believes these rules amount to unlicensed surveillance and is currently challenging their constitutionality in court. The organization is also one of those opposing sanctions on cryptocurrency mixing tools like Tornado Cash. Coin Center believes that sanction laws should not extend to immutable smart contracts. Finally, Valkenburg noted that lawsuits involving unauthorized fund transfers, such as those against the developers of Tornado Cash and Samurai Wallet, set a troubling precedent. The cases currently being investigated by the Department of Justice blur the lines between software development and financial services. (DL News)