Today, FreedomWorks Foundation submitted a formal comment opposing a proposed rule by the Financial Crimes Enforcement Network (FinCEN) regarding cryptocurrency. The proposed rule would require banks and other organizations to identify, and keep records of, all individuals who use either hosted or unhosted cryptocurrency wallets. As we pointed out in our comment excerpted below, although FinCEN has corrected their procedural errors from the first version of this Notice of Proposed Rulemaking (NPRM), the contents of this notice present an existential threat to cryptocurrencies as a whole. Not only would this proposal amount to centralizing a decentralized currency, but it would create massive security and surveillance risks that would be otherwise impossible.