Post
Topic
Board Economics
Re: Cryptocurrencies aren't anonymous anymore
by
The_Dark_Knight
on 31/01/2018, 02:22:41 UTC
It is no surprise that anonymity has been leaving bitcoin. Bitcoin is not as anonymous as it used to be.

Monero the more anonymous bitcoin has been getting a lot of news as it is being used for many illegal purposes such as drugs and money laundering.

South Korea today, however, is increasing regulation on all cryptocurrency exchanges as reported by https://revoltmedia.org/south-korean-new-rules-on-cryptocurrency/.

South Korean laws passed this morning are now only letting South Korean exchanges accept users if the user has real-name bank accounts connected.

Regulations like this are the first of many soon to come that will try to take anonymity from cryptocurrency.

The South Korean government reasoning was to prevent money laundering and other illegal activities.
Bitcoin and many other currencies were never meant to be anonymous that was a misunderstanding of the technology, you are as anonymous with bitcoin as with your email, no matter what you do you are going to leave a trail, with time coins that had anonymity at their core appeared, most notably monero and dash, but it is obvious such coins are the ones that are going to receive the most attention in order to avoid criminal activity in them.