Twitter and Square CEO Jack Dorsey has come out against proposed U.S. cryptocurrency regulation and its data collection requirement, The Verge reports. The regulation, introduced by the Financial Crimes Enforcement Network, asks financial institutions to obtain the personal information of parties involved in cryptocurrency transactions. In comments submitted to FinCEN, Dorsey said the regulation would cause "unnecessary friction" while requiring Square to "collect unreliable data about people who have not opted into our service or signed up as our customers."
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