Dollars are used for nefarious activities too.
The United States Internal Revenue Service has better ways to spend taxpayer dollars than offering bounties to break Monero’s (XMR) privacy, a Monero working group says.
After the IRS announced it is offering up to $625,000 to anyone who can break Monero, a major Monero-focused workgroup expressed their take on the matter.
A spokesperson for Monero Outreach — an independent workgroup focused on XMR awareness and education — told Cointelegraph that the IRS should learn how Monero actually works instead.
Monero Outreach’s representative emphasized that the crypto’s features in fact provide users with a certain level of transparency, stating:
“$625,000 would be better spent by the IRS to hire a few consultants to teach their staff how Monero works and how its features allow users to opt-in to transparency.”
The spokesperson said that Monero is “designed to function just like cash,” highlighting that the US dollar also has a certain amount of privacy:
“The US dollar is used for a majority of the world’s nefarious activities and yet, it is what denominates the IRS’ balance sheet.