Biden’s Orwellian Tax Surveillance Policy

Biden’s Orwellian Tax Surveillance Policy
We are witnessing a real-time demonstration of the way a failing political order can lead to the imposition of Orwellian surveillance out of last-gasp desperation. That’s the only honest way to assess the Biden administration’s almost unspeakably bad proposal to require that all U.S. banks report data to the Internal Revenue Service about any account with more than $600 in annual deposits and withdrawals.This article is excerpted from The Node, CoinDesk’s daily roundup of the most pivotal stories in blockchain and crypto news. You can subscribe to get the full newsletter here.The rules do not include individual transaction reporting, but…