Post
Topic
Board Economics
Re: Cryptocurrencies aren't anonymous anymore
by
0t3p0t
on 01/02/2018, 15:14:34 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.
Yeah governments want to control everything we have. Everyone is exposed due to KYC in local exchanges and that is what they want from us because they are tracking every transactions we did and that is something like a security breach against our privacy. But if their purpose is for the good of the country it would be great but if they are just trying to create chaos against crypto community then we are losers. Regulating cryptocurrency is good but why not regulate fiat currency as it is the root of all evil ever since it was invented? Maybe because they might see that cryptocurrency can be a threat to the currency they are in. It could be that money laundering and illegal activities are just cover-ups in some corrupt countries and I don't believe it because fiat is widely used in those activities even before cryptocurrency exist.