Should Government ban privacy coins ?

[Josemendez]

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.

I think you are right . Governments of every country wants the best for their citizens and their country ,and thus will ensure that they protect it. Monero can be used for illegal transaction within the country due to private nature. Scammers may use it as their tool .

 

[ahmedo24]

Delisting Monero may actually be prevented but the dart operators could still be get it because they can either mine it or get it from people holding it directly. If government has clear evidences it will be better it is ban.

 

[btaliat]

It is called private coins. Government doesn't have much power on cryptocurrencies. Its policy can only affect the cryptocurrencies market. With the best of my knowledge, government has power over fiat currency.

 

[Donkiz]

Before we talk about banning any coin, we should remember that cryptocurrencies are decentralized, which means they are not regulated by any government agency, therefore cannot be banned by any government. The only way to go about it is to sensitize people to always try avoid using such coins for any transaction to avoid being scammed.

 

[Sake]

I don't think coins such as monero should be banned. XRP was also being accused of being a security coins right? But is it really being just used for illegal activities? No it's also a form of investment and used for legal transaction and trading. Isn't fiat the same? Compared to These so called security coins fiat has been being a lot in illegalities more.. so should they banned fiat now?

 

[ahmedo24]

I don't think coins such as monero should be banned. XRP was also being accused of being a security coins right? But is it really being just used for illegal activities? No it's also a form of investment and used for legal transaction and trading. Isn't fiat the same? Compared to These so called security coins fiat has been being a lot in illegalities more.. so should they banned fiat now?

You are right, I haven't seen any evidence of these coins been used for illegal activities, bitcoin is also used for defrauding people and other criminal activities yet it is not ban. I guess there is more to this.

 

[Sake]

You are right, I haven't seen any evidence of these coins been used for illegal activities, bitcoin is also used for defrauding people and other criminal activities yet it is not ban. I guess there is more to this.

Well it looks like government really hates things that they have no control over. Any type of Currency cam be used for illegal activities not just security coins. It's not fair to ban something that's being used by innocent investors too.

 

[Henrywrites]

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 ?

There is a need to ban such coins since they are being used by those people to carry out malicious activities. This was the challenge we had as Bitcoin traders before confidence was restored and I hope that there will be a better solution for these private coins as long as the major investors are willing to learn from the evolution of Bitcoin.

 

[ahmedo24]

There is a need to ban such coins since they are being used by those people to carry out malicious activities. This was the challenge we had as Bitcoin traders before confidence was restored and I hope that there will be a better solution for these private coins as long as the major investors are willing to learn from the evolution of Bitcoin.

There are has not been technology to unmasked their transactions because they make use of mixer which makes it very difficult more for traces so if they are actually what they claim to be the best is to ban them

 

[chicnthin]

Such coins are not the only ones that is hard to track. Other crypto currency coins could be used for illegal activities as well, but you don't see it being banned. Perhaps changing the policy or make it safer to trade would be an good alternate move.

 

[Mrallison]

Yes it should be band, like you said it is known for its numerous cyber crimes.
All crypto currency should be open and not private although banning it will lead to the scammers looking for new forms to perform there art but that doesn't take away the great necessity

 

[Osaz96]

I don't really have much knowledge about lunacy coins. I've heard about monero even some sites create ways you can earn it but I haven't made research know if it is currently series a means of exchange and send not look like a threat I think it should not be banned

 

[Taimoor Jutt]

If privacy coin are causing illegal things then surely they will be banned. Government should ban everything which is illegal though, like scammer, fake sites, and fraud all should been ban as they play with people's sentiments as well as money.

 

[Janita]

I think it should be ban because many of the people are in aware of some currencies like many More of them are illegal and people investment goes to loss side and due to unawareness they lost their money in a time .
So it should be ban so that people will not get in some trouble.

 

[Smithkid]

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 ?

 

[Samuel77]

According to my own point of view, I suggest government should not bound privacy coins, because all coins are the same. As Soon as it becomes popular in the world, I believe is will be useful and helpful to people all over the world

 

[Abbas ali]

Bittrex announced Friday it will be delisting monero (XMR), zcash (ZEC) and dash (DASH), continuing a trend of so-called privacy coins being delisted by cryptocurrency exchanges. In a release, the exchange said the coins' markets will be removed on Friday,

 

[Judee201]

Since it has been caught and found out that these privacy coin are use for illegal activities, the government should banned the use of the privacy coin so it will reduce the level of illegality being used for.

 

[Donolatunji]

For someone out there who claims that governments would prohibit coins for privacy:

"Governments can ban anything they want!"Governments can ban whatever they want, it will be good for all!

 

[adazeez1995]

But they have already authorised its use and declared it legal last week. According to the information made available, even though it might present some little risks, they are however permissible, although the banks would always ensure that compliance are strictly adhered to.

Post automatically merged: Feb 2, 2021

But they have already authorised its use and declared it legal last week. According to the information made available, even though it might present some little risks, they are however permissible, although the banks would always ensure that compliance are strictly adhered to.

Post automatically merged: Feb 2, 2021

But they have already authorised its use and declared it legal last week. According to the information made available, even though it might present some little risks, they are however permissible, although the banks would always ensure that compliance are strictly adhered to.