<html><head><meta http-equiv="content-type" content="text/html; charset=utf-8"></head><body style="overflow-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;"><div>Dear John,</div><div><br></div><div>I’m not sure if this is the right way to look at things.</div><div><br><blockquote type="cite"><div><div>When the "privacy" involves hiding money, it's a quite reasonable assumption.<br><br></div></div></blockquote><div><br></div><div><span style="color: rgb(34, 34, 34); font-family: Arial, Helvetica, sans-serif; font-size: small; font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">I can think of many legitimate reasons to privately engage in commerce from health privacy among other things.</span><span class="im" style="color: rgb(80, 0, 80); font-family: Arial, Helvetica, sans-serif; font-size: small; font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><br></span></div><br><blockquote type="cite"><div><div><br>Sorry, but saying that over and over again doesn't make it true.<br><br>Having been involved in some actual lawmaking, I can assure you that slippery slope arguments<br>are unpersuasive. Judges have no trouble telling the difference between a web browser and<br>a crypto mixer.<br></div></div></blockquote></div><br><div><span style="color: rgb(34, 34, 34); font-family: Arial, Helvetica, sans-serif; font-size: small; font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">If a statement is true, it’s true.</span><br style="color: rgb(34, 34, 34); font-family: Arial, Helvetica, sans-serif; font-size: small; font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><br style="color: rgb(34, 34, 34); font-family: Arial, Helvetica, sans-serif; font-size: small; font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span style="color: rgb(34, 34, 34); font-family: Arial, Helvetica, sans-serif; font-size: small; font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Narrow-minded lawmakers may ignore slippery slope arguments, and that’s where bad laws are born.</span><br style="color: rgb(34, 34, 34); font-family: Arial, Helvetica, sans-serif; font-size: small; font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><br style="color: rgb(34, 34, 34); font-family: Arial, Helvetica, sans-serif; font-size: small; font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span style="color: rgb(34, 34, 34); font-family: Arial, Helvetica, sans-serif; font-size: small; font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">But anyone building laws for the long term will absolutely account for that slope.</span><br style="color: rgb(34, 34, 34); font-family: Arial, Helvetica, sans-serif; font-size: small; font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><br style="color: rgb(34, 34, 34); font-family: Arial, Helvetica, sans-serif; font-size: small; font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span style="color: rgb(34, 34, 34); font-family: Arial, Helvetica, sans-serif; font-size: small; font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Lawmaking is a balance: too strong laws and you’re paralyzed by regulation, but too weak and you’re paralyzed by anarchy.</span><br style="color: rgb(34, 34, 34); font-family: Arial, Helvetica, sans-serif; font-size: small; font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><br style="color: rgb(34, 34, 34); font-family: Arial, Helvetica, sans-serif; font-size: small; font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span style="color: rgb(34, 34, 34); font-family: Arial, Helvetica, sans-serif; font-size: small; font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Make no mistake, we’re sliding toward regulatory paralysis.</span><font color="#888888" style="font-family: Arial, Helvetica, sans-serif; font-size: small; font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><br><br>-Andrew</font></div><div><font color="#888888" style="font-family: Arial, Helvetica, sans-serif; font-size: small; font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><br></font></div><div><font color="#888888" style="font-family: Arial, Helvetica, sans-serif; font-size: small; font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Note: Resent with formatting changes per list rules. We don’t have anarchy here! :-)</font></div></body></html>