EU Moving to Ban Privacy Coins: Report
The European Union is said to be mulling a ban on privacy coins, including Monero (XMR), Zcash (ZEC), Secret (SCRT), and Dash (DASH).
Privacy-Enhancing Crypto Coins Could Be Banned Under Leaked EU Plans
The alleged document was leaked to Coindesk, but I can't, as yet, find a copy.
Usual lame excuse: AML.
Money Laundering through Money Remittance and Currency Exchange Providers
FATF Report to G20 on So-Called Stablecoins
So, is this a real problem?
20 Money Laundering Statistics [2022] Facts About Money Laundering In The U.S.
Despite a rise in cybercrimes in 2020, criminal activity that used cryptocurrency fell by over half between 2019-2020.
In 2019 the proportion of cybercrimes that made use of cryptocurrency was 2.1%. However, despite the pandemic, this number fell to only 0.34% in 2020.
It isn't about criminals, it's all about absolute financial control. I feel so grateful to be so protected.
The only reason why they want to do this is to tax more. Our taxes are horrendous.
perfect "sales tax" plus constant monitoring.
whatever happened to digital freedom? the greed of defi made many forget such issues.
Why does it seem like the US and Europe are always in competition to be behind on technology?
behind? I don't think this is about lagging behind; it's about full spectrum control. Except they have to vote on such things - can't just implement them, like China - have to pretend there is a process of consultation.
The English-language news is so skewed to the USA it is easy to forget there is a far larger rest-of-the-world.
But surely they have no jurisdiction over Monero? So if ur not IN the UK should you hold on to monero?
It could also be fear-mongering to try and get the dominoes to keep falling.
the point is to make coins-to-fiat gateways more difficult, or impossible.
Oh I see. but they plan to get rid of fiat anyway and there are ways round all of their lunacy. People can always find loopholes.
In what way is a central bank digital currency any different to current fiat?
Most people are lazy, stupid and scared of consequences - not a recipe to find and use loopholes - those are already there for the rich and for scammers, even without crypto.