Keep calm and HODL #Bitcoin.

Everyone seems to be overreacting to the Samourai arrests, the FBI PSA, and Phoenix leaving the US. Here's my attempt to break it down.

Samourai

You have to unpack all of the different elements. Could this be a state attack on self-custody and privacy? Maybe. Probably not.

There are a few components here that need to be evaluated on their own.

1⃣ Samourai was a self-custodial wallet

2⃣ Samourai was a mixer

3⃣ Samourai was providing normal people with privacy

4⃣ Samourai were knowingly marketing the service to criminals and flaunting that fact

Reading the charges, it seems like #4 is pretty cut and dry for this case. Their getting arrested for #4, doesn't automatically mean #1, #2, #3 are under siege as well. If Samourai was a taco stand laundering money and bragging about it, I'm sure they would be taken down too.

They may be accused of running a money transmitter now, but that may or may not stick. We'll find out in the trial.

All that said, we should always be vigilant to attempts to erode privacy and the ability to self-custody. It just does not seem that this fight is *that* fight.

FBI PSA

Seems pretty normal that the FBI would advise people to use compliant services, and the entire announcement seems to revolve around potential disruptions due to Samourai being taken down, and potentially others in the future. Given they took action, they have to post some bulletin about it.

Remember that when people lose funds or have funds stolen from them, they do go to the FBI for help. From their point of view, the best thing for people to do is use compliant services where they can potentially help.

The announcement concludes saying that services that purposely break the law will be investigated - so again we go back to #4 above. This is nothing new, and self-custody is not being criminalized.

Phoenix Leaving