The Bank Secrecy Act (BSA), enacted by President Nixon on October 26, 1970, has reached its 55th anniversary, marking decades of financial surveillance expansion in the U.S. Initially designed to combat tax evasion, the BSA's scope has widened to include monitoring drug traffickers, terrorists, and cryptocurrency activities. The law mandates financial institutions, such as banks and stablecoin issuers, to report transactions exceeding $10,000, a threshold unchanged for inflation. In 2024, over 27.5 million reports were filed under the BSA, highlighting its extensive reach. Critics argue that the BSA infringes on privacy rights and advocate for reforms, including adjusting the reporting threshold for inflation, reducing reporting requirements, or repealing the law entirely.