Monero Talk - Episodes Tagged with “Fincen”

Merged Mining and Proof of Useful Work - Security Implications for Monero. W/ Francisco Cabanas | EPI 358

Monero Talk — Thu, 31 Jul 2025 18:00:00 -0300

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TODAY'S SHOW: This episode of Monero Talk featured a discussion with Arctic (Francisco) on key developments in Monero and the broader crypto ecosystem. Arctic shared updates on his work optimizing scaling for full chain membership proofs, addressing concerns about increased transaction sizes and verification times.

They discussed the Samurai Wallet case, where developers pled guilty to money transmission violations tied to fees sent to operators, reinforcing existing FinCEN guidance rather than creating new law.

The main topic centered on the emerging “Cubic” cryptocurrency, which uses Monero merge-mining under the guise of “proof of useful work.” Arctic warned that if Cubic amasses significant hash rate, it could threaten Monero’s network security, similar to the 2018 ASIC attack, and suggested countermeasures like miner education and potential token sell-offs. The conversation also contrasted proof of stake’s flaws with proof of work’s resilience and concluded with updates on Monero’s full chain membership proofs—expected around 2026—which aim to improve fungibility despite larger transaction sizes and longer verification times, mitigated through parallel processing and hardware optimizations.

TIMESTAMPS:
(00:01:02) Arctic joins – updates on scaling work and personal projects.
(00:03:55) Samurai Wallet case – Money transmission fees, legal implications, and Tornado Cash parallels.
(00:22:51) Clarity Act – Regulatory protections for decentralized cryptocurrencies.
(00:23:29) Sterlingov case – Chain analysis validity and implications for Monero delisting.
(00:27:21) Transition to main topic – Cubic mining attack and proof of useful work concept.
(00:32:59) Historical context – 2018 Bitmain ASIC attack and community defense.
(00:40:21) Monitoring hash rates – Early indicators of potential attacks.
(00:43:09) Encouragement to mine at home – Defensive community mining efforts.
(00:44:01) History of Kryptonote and Bytecoin – Early Monero origins and attacks.
(00:48:02) Merge mining attacks – Risks and prevention approaches.
(00:54:29) Proof-of-Stake discussion – Short-selling risks and vulnerabilities.
(01:03:28) Preventing future attacks – Community awareness and decentralized pools.
(01:07:14) Full Chain Membership Proofs (FCMP) – Fungibility upgrade, scaling challenges, and verification improvements.
(01:10:49) Efficiency contests and progress – Ongoing optimizations for FCMP
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New FinCEN regulations will label you “guilty until proven innocent “ for using any cryptocurrency privacy tool w/ Seth for Privacy

Monero Talk — Tue, 24 Oct 2023 08:00:00 -0300

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TODAY'S SHOW: Douglas Tuman interviews Seth for Privacy, a Privacy tech advocate and Head of Strategy and Marketing for Foundation devices.

The two discuss Seth’s Freedom.Tech article on the extreme proposal fincen announced last week to extend the patriot act to include all cryptocurrency privacy tools.
Doug and Seth breakdown Fincens proposed regulations. Discussing the false justifications they cite, the potential implications on the financial institutions that will have to comply with these regulations, the impact on the users of crypto privacy tools, what privacy tools the regulations as written cover, including whether Monero is one of them, the suspected real reason why fincen and legislators are motivated to attack crypto privacy tools, and ultimately why Monero users and the wider crypto privacy community should be optimistic and focused on opting out and building out a parallel economy outside of the State controlled fiat system.

Timestamps:
(00:00:00) Intro
(00:02:00) Seth’s work recently, freedom.tech
(00:07:05) FinCEN’s proposal to extend the PATRIOT Act to crypto privacy tools.
(00:19:15) The broadening of the term “Mixing”
(00:28:10) Prosecuting everyone for the illegal action of a few
(00:33:40) The justification of "bad people use privacy tools"
(00:43:30) Pushing back on the government’s narrative
(01:00:44) Chainalysis’ symbiotic relationship with the government
(01:05:43) How this proposal would affect the average Monero user
(01:11:12) The claims about terrorism funding
(01:23:00) Making a parallel economy with Monero and closing remarks
(01:27:40) Outro

LINKS:
WEB: https://freedom.tech/patriot-act-comes-to-cryptocurrency/
TWITTER: https://x.com/sethforprivacy?s=21

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Cryptocurrency Regulations with Simon Lelieveldt

Monero Talk — Tue, 26 Jan 2021 15:00:00 -0400

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TODAY'S 🎙SHOW: Douglas Tuman interviews Simon Lelieveldt, a Regulatory Consultant for Payments and Blockchain.

Simon discusses his response to the FINCEN cryptocurrency surveillance ruling, his overall take on the current status of cryptocurrency, thoughts on getting people to use something that preserves their privacy in the technology itself unlike bitcoin and how the regulatory battle and relationship between government and regulators will shake out.

Links:
Website: https://www.simonl.org
Twitter: @finhstamsterdam
Article: https://edpb.europa.eu/sites/edpb/files/files/file1/edpb_statement_20201215_aml_actionplan_en.pdf
Article: https://www.simonl.org/nl/terms-of-use-and-privacy-statement/

Link: http://moneyandpayments.simonl.org
Link: https://threadreaderapp.com/thread/1350352139286151168.html
His FinCen response: https://moneyandpayments.simonl.org/2021/01/response-by-simon-lelieveldt-to-fincen.html
Link: https://threadreaderapp.com/thread/1350352139286151168.html

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Monero's Organic Growth w/ Core Team Member ArticMine

Monero Talk — Sun, 17 Jan 2021 12:30:00 -0400

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TODAY'S 🎙SHOW: Douglas Tuman interviews Francisco Cabanas..aka ArticMine. For those of you that are new to Monero, Francisco is the man! He is a Monero Core Team member that has been actively researching and investing in cryptocurrencies since 2011. He holds a phd in physics and is an expert in the field of cryptocurrency scaling — specifically Monero’s elegant dynamic blocksize architecture. He is also at the forefront of understanding how regulators will likely deal with crypto.

Douglas gets Francisco’s opinion on: Monero’s all time high transaction volume and how Monero is built to scale, the US Treasury’s proposed crypto regulations and the delisting of Monero and recent node attack.

They also discuss the exciting upcoming monero improvements like increased ring size and whether the mainstream’s recent witnessing of how big tech can censor a president and political groups, will help people realize the importance of censorship resistant digital cash.

Links:
Reddit Post: https://www.reddit.com/r/Monero/comments/kr98fl/monero_policy_working_group_response_to_fincen/
Response to Financial Crimes Enforcement Network: https://downloads.getmonero.org/Monero_Policy_Working_Group_FinCEN_01-04-2021.pdf

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FinCEN’s attack on Crypto with Fight for the Future: Evan Greer & Joe Thornton

Monero Talk — Tue, 29 Dec 2020 19:00:00 -0400

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TODAY'S 🎙SHOW: Douglas Tuman interviews Deputy Director, Evan Greer and video producer Joe Thornton of fight for the future, a non profit organization that fights for internet freedom.

Joe and Evan discuss the recent & possibly biggest regulatory move by the US government since the inception of cryptocurrency that the Treasury Department is looking to implement, how this direct attack on the heart of the crypto ecosystem will give them access to users personal Financial transactions way beyond the governments current purview into traditional cash withdrawals and transactions if bitcoin is used instead of Monero, and what fight for the future is doing to help the government from hastily hastily moving ahead.

They also chat about how people need to be aware of the impact of last minute authoritarian moves and why crypto users should start opting into privacy preserving technologies like Monero that truly protect our liberty before governments make it even more difficult to do so.

Links:
Comment period ends January 4th, 2021!!!! Comment Here: https://www.stopfinancialsurveillance.org/

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