Financial Privacy Study: Bitcoin Policy Institute, Fedi, and Cornell Launch Crucial 2-Year American Attitudes Research

WASHINGTON, D.C. — December 2025 — A groundbreaking collaborative research initiative launches today to systematically examine American attitudes toward financial privacy in an increasingly digital economy. The Bitcoin Policy Institute (BPI), Fedi wallet company, and Cornell University’s Brooks School Tech Policy Institute announced a comprehensive two-year study that will analyze how U.S. citizens perceive privacy trade-offs and how regulatory environments shape their financial behavior. This initiative arrives at a critical juncture as enforcement actions against privacy tools and pending market structure legislation create unprecedented uncertainty for developers and users alike.

Financial Privacy Study Methodology and Timeline

The research partnership represents a unique convergence of academic rigor, product development insight, and policy expertise. Cornell University brings established research methodologies and academic credibility to the project. Meanwhile, Fedi contributes practical understanding of user behavior through its Bitcoin wallet platform. The Bitcoin Policy Institute adds policy analysis and communications strategy to the collaboration.

Researchers will employ a mixed-methods approach combining quantitative surveys with qualitative interviews. This methodology ensures both statistical validity and nuanced understanding of privacy attitudes. The study will track how American perspectives evolve over the two-year research period. Four semi-annual reports will document findings, with the first comprehensive analysis scheduled for release in April 2026.

Key research areas include:

• Everyday transaction privacy concerns
• Institutional trust levels across financial sectors
• Willingness to trade privacy for convenience
• Understanding of data collection practices
• Attitudes toward government surveillance capabilities

Rising Public Concern About Data Privacy

Public anxiety about data collection has reached unprecedented levels according to recent surveys. A 2023 Pew Research Center study revealed that 71% of American adults expressed significant concern about government data usage. This represents a notable increase from 64% in 2019. Approximately two-thirds of respondents admitted understanding little about corporate data practices.

Simultaneously, governments worldwide are advancing initiatives that could dramatically expand official visibility into financial activities. Central bank digital currencies (CBDCs) and digital identity frameworks represent two prominent examples. These developments fuel an intense global debate about whether financial privacy requires preservation, redesign, or constraint in the digital era.

The following table illustrates the growing privacy concern trend:

Regulatory Pressure on Privacy Tools

The policy environment for privacy-enhancing technologies has grown increasingly challenging. U.S. authorities recently pursued criminal cases against developers of non-custodial services including Samourai Wallet and Tornado Cash. Prosecutors alleged these platforms operated unlicensed money-transmitting businesses and facilitated illicit fund movements. Developers faced criminal convictions and multi-year prison sentences in both instances.

These legal actions have raised fundamental questions about developer liability. Many experts worry that simply publishing or maintaining privacy-focused code could become criminalized. This concern persists even when developers exercise no direct control over user funds. The cases establish troubling precedents for open-source software development generally.

Market Structure Legislation and Developer Protections

In Washington, the ongoing crypto market structure bill has emerged as a crucial battleground for developer rights and decentralized finance (DeFi) futures. Industry organizations including the DeFi Education Fund have urged lawmakers to establish clear, nationwide protections for software developers. They warn that vague regulatory obligations could force innovation offshore or compel builders into traditional financial intermediary roles.

Jake Chervinsky, Variant’s chief legal officer, recently described DeFi protections as his “red line” in market structure negotiations. He argues the legislation must explicitly safeguard DeFi developers. Without clear statutory safeguards, Chervinsky warns, future regulators could still attempt to “kill DeFi” within United States jurisdiction.

The research initiative directly addresses these regulatory uncertainties. By providing empirical evidence about American privacy attitudes, the study aims to inform more nuanced policy discussions. Researchers hope their findings will help shape regulations that balance legitimate law enforcement needs with essential privacy protections.

Research Significance and Expected Impact

This collaborative study represents the most comprehensive examination of American financial privacy attitudes undertaken to date. Previous research has typically focused on specific aspects of privacy or particular technologies. This initiative takes a holistic approach examining the entire privacy landscape.

The timing proves particularly significant as multiple regulatory frameworks approach finalization. Research findings could influence how policymakers approach:

• Developer liability standards
• Privacy tool regulations
• Digital identity frameworks
• CBDC design principles
• Data collection limitations

Academic partners emphasize the study’s neutrality and methodological rigor. They aim to produce findings that withstand scholarly scrutiny while remaining accessible to policymakers and the public. The research design includes mechanisms to ensure representative sampling across demographic groups and geographic regions.

Conclusion

The Bitcoin Policy Institute, Fedi, and Cornell University have launched a timely and crucial financial privacy study that will shape policy debates for years. This two-year research initiative arrives as Americans express growing concern about data collection while regulators grapple with emerging technologies. The study’s mixed-methods approach will provide both quantitative data and qualitative insights about privacy attitudes. First findings scheduled for April 2026 could significantly influence pending legislation and regulatory approaches. Ultimately, this collaborative effort aims to ground complex policy decisions in empirical evidence about what Americans truly value regarding financial privacy in the digital age.

FAQs

Q1: What organizations are conducting this financial privacy study?
The research collaboration includes three partners: the Bitcoin Policy Institute (a policy think tank), Fedi (a Bitcoin wallet company), and Cornell University’s Brooks School Tech Policy Institute (an academic research center).

Q2: When will the first research findings be released?
The first comprehensive report from the two-year study is scheduled for publication in April 2026, with three additional semi-annual reports to follow.

Q3: Why is this study particularly important now?
The research launches amid increasing regulatory actions against privacy tools and pending market structure legislation that could dramatically affect developer liability and user privacy protections.

Q4: What methodology will researchers use?
The study employs a mixed-methods approach combining quantitative surveys (for statistical validity) with qualitative interviews (for nuanced understanding) to examine how American attitudes toward financial privacy evolve.

Q5: How might this research affect cryptocurrency regulation?
Findings could provide empirical evidence to inform regulations balancing law enforcement needs with privacy protections, potentially influencing developer liability standards, privacy tool regulations, and digital currency frameworks.