A federal judge has issued an injunction preventing the U.S. Treasury Department from accessing transactions involving Dogecoin (DOGE), the popular cryptocurrency. The ruling comes amid growing government scrutiny of digital currencies and their potential use in illicit activities, including money laundering and fraud.
The Treasury had sought expanded authority to monitor DOGE transactions, citing concerns over its increasing adoption for anonymous transfers. However, the court ruled that such access could violate privacy rights and overstep legal boundaries without proper legislative backing.
Supporters of the decision argue that it protects individual financial privacy and prevents government overreach in the crypto space. Critics, however, warn that limiting oversight could make it harder to combat illegal activities facilitated through cryptocurrencies.
This ruling marks a significant moment in the ongoing debate over cryptocurrency regulation in the U.S., highlighting the legal challenges facing government agencies as they attempt to regulate decentralized digital assets. The Treasury Department is expected to appeal the decision, potentially setting the stage for a broader legal battle over crypto oversight.
