Why would regulators want to ban privacy coins from exchanges?

abbrev (25)in #monero • 7 years ago (edited)

So today this article circulated: https://www.ccn.com/japan-is-pressuring-cryptocurrency-exchanges-to-de-list-anonymous-altcoins-report/ about japanese regulators trying to force local japanese exchanges to ban privacy coins.

I do not understand the reasoning behind this, as these centralized exchanges would be the only entry and exit points where regulators COULD actually have any chance to trace the transactions. Banning the use of these coins on "local" exchanges only encourages the use of decentralized exchanges (DEX) and over the counter trades (OTC), both of which remove any means the regulators would have to track transactions in the first place.

It may seem that these kinds of regulatory interventions could actually serve as an accelerator to the adoption of decentralized exchanges and truly anonymized transactions without middle men, therefore being profoundly counterproductive to the original intention of these regulations and further promoting technology that removes the people's dealings from the grasp of overbearing governments and financial institutions.

#zcash #exchanges #privacy #bitcoin

7 years ago in #monero by abbrev (25)

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klikdiva (42) 7 years ago (edited)

I like your conclusion. It may be that State overjealousy ends up being exactly the opposite of what they thought it would be.
Personally, I just think these measures are their way of freaking out about the increasing loss of control over us.
Anyway, the cure is keep buying, trading and spreading the word about crypto until we all become free.

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