Also I don't get how they want to handle Monero, since the transactions aren't public. Will they just ban it? Many open questions.
I am in the EU, and in my country they have solved it in a way that regulatory agencies have asked all local crypto exchanges to remove such cryptocurrencies from their offer - and they have done so. I see no reason why this should not be a model that others will not follow
Bitcoin Store uklanja "Privacy coins" kriptovalute iz ponude
Sukladno novim smjernicama iz HANFA-e Bitcoin Store će ukloniti sljedeće kriptovalute (Privacy Coins) iz ponude: Monero, Decred, Zcash, Dash, Horizen, PIVX, Firo, Verge, Beam
The Bitcoin Store removes "Privacy coins" cryptocurrencies from the offer
In accordance with the new guidelines from HANFA, the Bitcoin Store will remove the following cryptocurrencies (Privacy Coins) from the offer: Monero, Decred, Zcash, Dash, Horizen, PIVX, Firo, Verge, Beam
I believe that's where some of us might be wrong. In believing that the government is doing this for the prevention of plebs from being scammed. No, they're doing this because MASS ADOPTION of Bitcoin could mean death to their political strongholds. They didn't understand the underlying nature of Bitcoin until it was too late. The Pandora's Box is open, the government is merely trying to close it.
In an attempt to remain ostensibly democratic and not follow in China's footsteps, they have been doing so for years - just look at what central bank governors are saying. Now that they see that the thing has gone too far, they will do everything to make Bitcoin as uninteresting as possible for all those who already own it or have planned to do so.
In the recent news that Thailand has banned cryptocurrencies as a method of payment, one could read the explanation that they do so in line with what is happening among others in the EU. It seems to me that they all read from the same manual, the only question is how quickly they will implement some things.
While the restrictions on the use of digital currencies for transactions will be effective starting April 1, companies in Southeast Asia’s second-largest economy will have until the end of April to comply with the new rules, the regulator said. It said the curbs on cryptocurrencies such as Bitcoin for commercial transactions are in line with regulations in Europe, the U.K., South Korea and Malaysia.