Simon Lelieveldt (Human Rights in Finance.EU) published on Medium his article Why the Travel Rule Violates Fundamental Rights (for 20+ years already).
In the article he explains the ‘travel rule’ that is prescribed by global anti-crime regulator FATF, that will also apply to cryptocurrency companies. The essence:

The travel rule’s purpose is thus to preemptively and massively provide unsolicited answers to yet-to-be-asked questions about the identities of senders or receivers of payments, without a valid police order or suspicion.
This amounts to large-scale surveillance and complete monitoring, for which a legal balance is required: is the goal, such as preventing money laundering or terrorist financing, justified in proportion to the significant breach of customer privacy?

Lelieveldt recalls the history of this FATF legislation and the US, after the attacks on the New York Trade Centre, starting snooping on all international transactions via Swift.

Read the articles on the travel rule on this blog.