Should Government ban privacy coins ?

[Josemendez]

Coins like Monero are called privacy coins and has been used several times to carry out illegal activities.
Some cryptocurrency sites do not list it in their wallet because of safety concern .

Do you think that these privacy coins that offer hidden transaction should be allowed to be in existence or banned ?

 

[Peterlight]

They should be ban cos they might be the reason behind the hacking and looting of people's investment from some wallet.

 

[Niftyyem]

I don't think a ban of such coins would curb any criminal activity, they will probably move on to some other coin. Those coins should be used accountably and the supply could be limited.

 

[Ehizzy1]

I dont think it should be banned since some other crypyto currency are also hard to trace , so they can exist for mostly trading

 

[Bookwormlux]

they should be banned. Cyber crime rate is increasing and anything that would help frustrate the effort of cyber criminals should be implemented with no delays. This would also help to discourage future criminals.

 

[Sincerem]

Since Cryptocurrency is decentralized, and monero is acting that way too. Coinbase feature this coin "monero on it's website. So I think they are like other coins too. They should not banned it, because traders also use it to trade online.

 

[giddy]

Privacy is the only tool that can limit any external control, for instance, control from governments, attackers, companies and other individuals. When it is not observed, then you are giving free access to your data, and this could result into your rights being taken away from you. Keeping yourself secure all the time through reinforced privacy, doesn’t mean that you are against the government, it rather means that you are fighting for your freedom, for instance, freedom of thought, freedom of information, freedom of choice, and others. Laws only works in keeping the society more fully cladded but keeping your own privateness, helps to keep the society more secure.

 

[Akinwale701]

To my opinion, everything and anything that serves a purpose other than legal ones or that induces people to commit illegal activities should be removed. If removing or banning that coin is the solution, the government o every country should take action as soon as possible.

Coins like Monero are called privacy coins and has been used several times to carry out illegal activities.
Some cryptocurrency sites do not list it in their wallet because of safety concern .

Do you think that these privacy coins that offer hidden transaction should be allowed to be in existence or banned ?

 

[Ralphjoe]

I will recommend a total ban on such kind of cryptocurrencies because alot of illegal transactions maybe going on there that people may not be aware of, banning them will put an end to such illegal transactions. These are the kind of cryptocurrencies that are spoiling the reputation of other good cryptocurrencies in the market.

 

[Prettybabe]

I don't see any reason why it should be banned. Except you are saying that these private coins are used solely for illegal activities.

Are you saying that people don't do illegal activities on the other cryptocurrencies?

 

[Rimsha kanwal]

Coins like Monero are called privacy coins and has been used several times to carry out illegal activities.
Some cryptocurrency sites do not list it in their wallet because of safety concern .

Do you think that these privacy coins that offer hidden transaction should be allowed to be in existence or banned ?

Lmao, I happen to agree with your sentiment. I don't think they will ban them. But this post is god awful.
You're the only one reasoning like a 3rd grader. You create several straw man arguments, provide no proof at all to back up that government will behave the way you're saying it will, and just call anyone who disagrees an idiot.
https://www.reddit.com/r/CryptoCurrency/comments/8jfe86/comment/dyz9uk7?utm_source=amp&utm_medium=

 

[Erik4150]

Is there hard evidence to prove that monero is being used for cyber crime? The government will need valid evidence before they can ban it. But for now I encourage users to be very careful and avoid falling victim to cyber criminals.

 

[Ridorz]

I can say that government should ban the kind of such crypto, because there is must be something negative behind the hiding of their operating. Anything that is being doing secretly is a illegal things. So, they deserve to be banned because they are dangerous.

 

[Nurudeen]

I don't think any government have power to ban any crypto coin in the crypto currency exchange Business. This can be regulated by different platform selling crypto coin on their platform or have it on there data base system. But I still believe all individuals should make due diligence before paying with any coin because it's all coin that can be used to scam people.

 

[Yan]

Coins like Monero are called privacy coins and has been used several times to carry out illegal activities.
Some cryptocurrency sites do not list it in their wallet because of safety concern .

Do you think that these privacy coins that offer hidden transaction should be allowed to be in existence or banned ?

They should be banned or at least change their policy, the idea of anonymity possess good qualities for safe trades and transaction but since it is habouring people like scammers and hackers, government should try to regulate their actions.

 

[Eyiteepraise]

Such coins are supposed to banned by now, coins that are not secure and are used for illegal activities should be banned from being used by investors and others. Alt coins are better options

 

[tuna89]

The XMR has been said to be openly used for illegal activities but the monero creators have also proceeded to defending themselves against such criminal activities, before the exchange can ban this privacy coin, sure and clear evidences would have to be presented and checked on to enable justice.

 

[Adeyoola7]

Although not currently banned in the United States, the status of privacy coins remains in regulatory limbo in the eyes of many. For the time being, the government bodies, such as the Department of Homeland Security, are attempting to develop tools which would allow the tracing of Monero transactions

 

[Goodday]

Coins like Monero are called privacy coins and has been used several times to carry out illegal activities.
Some cryptocurrency sites do not list it in their wallet because of safety concern .

Do you think that these privacy coins that offer hidden transaction should be allowed to be in existence or banned ?

Maybe the right decision for such coins is just to limit how they are listed on various exchanges so as not to cause problems for such exchanges some day. But if an exchange still goes ahead to list such coins, then l guess there is only little to be done since crypto transactions mostly are difficult to regulate.

 

[ahmedo24]

The XMR has been said to be openly used for illegal activities but the monero creators have also proceeded to defending themselves against such criminal activities, before the exchange can ban this privacy coin, sure and clear evidences would have to be presented and checked on to enable justice.

Yeah there are has been many updates as regards darknet activities of Monero but if the developers insisted on it not been used for illegal activities with proofs then it shouldn't not be ban except otherwise.