According to the latest data obtained from coinmarketcap, Monero is ranked at #13. The price fell by 1.62% in a span of the past 24-hours. The trading volume recorded is $120.924 million, whereas the circulating supply has 17,115,728 XMR tokens in play.
This is a mineable, decentralized cryptocurrency which ensures privacy for the sender and the receiver.
Attorney General William Barr has been critical of encrypted technology. He stated, “There have been enough dogmatic pronouncements that lawful access simply cannot be done…” So, William Barr holds the opinion that data being encrypted on smartphones and computers are a threat to National Security.
This is straight outta a Hollywood show. When there is abundance of technologies that the lawmakers fail to comprehend, they tend to view it as a serious threat. Mr Barr spoke of how officers of the law have been futile in their efforts of trying to access information on encrypted devices.
Warrants which are issued due to probable cause of criminal activity are failing in recent times.
According to the Attorney General, terrorists and members of drug cartels employ such encrypted services in order to throw-off detectives hot on their trail.
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— Monero || #xmr (@monero) July 23, 2019
A user on Reddit Vespco wrote, “Wonder what will happen when they outlaw the use of anonymizing services like Tor, I2P, etc?
I think that day is coming, it’s something that is sensational, gives them more power, and ultimately only something a minority of people care about.”
The whole point is cryptocurrencies are supposed to be protected from prying eyes of the Big Brother. The surveillance of citizens conducted by the NSA was exposed after Edward Snowden, an analyst firmly decided that he wouldn’t aid ambitious criminals who are in-charge of security agencies.
Thus, these asinine comments by Barr shows how little he knows about basic human rights. It seems that the Attorney General doesn’t care about the importance of absolute privacy at all.