Cracking down on privacy coins might help with fraud, but it also risks stripping away freedom and privacy in the long run. If they ban anonymous accounts, it could set a dangerous precedent for more control over crypto.
I'm curious about how they will ban it.
It is mentioned in the article are ZCASH or XMR. How can they know if their people are using some altcoins or even own them? I think this is very challenging to them, especially since these coins are decentralized, not compared to stablecoins like USDC or USDT.