Should Government ban privacy coins ?

[Alexandoy]

Privacy coin is not clear to me but I understand that it is another type of crypto like the one they call meme coin. Anyway, banning a crypto would depend on the viewpoint of the government's economists. If the crypto coin is affecting the economy then it will be banned.

 

[Jlife]

If they do not have any other function they are doing except to be carried out for illegal activities then I believe it is the best for such cryptocurrency to be banned because it doesn't add anything to the society except encouraging illegal activities.

 

[Josemendez]

I believe it was created that way to serve criminals right, by operating full-time anonymously. The government should track it's progress, if it isn't worth it then the coins should be closed down.

Many countries have banned the Mining and use of these privacy coins because if their annoymous nature. Some exchange sites have delisted them as well

 

[Bookwormlux]

Marjoity of the Defi coins are built with fraudulent purposes, that's why some of them got blacklisted. Their is no how government will ban it when it isn't easy to crack.

Some of these defi projects have scammed people of millions and they were not easily traced. I wonder how they do it.

 

[GIFTMICHAEL]

Some of these defi projects have scammed people of millions and they were not easily traced. I wonder how they do it.

The creators of those privacy coins knows how they did it there. Those coins are mainly for fraudulent activities that's why the government is hoping to ban them.

 

[Snazzy001]

I don't think there's anything wrong with this particular point such that government should even go to the extent of banning it. Let us all give some things chances

 

[Lordfalcao]

I can't really say much because ober here at my country the government here has literally banned the crypto in a sense that they withdrew there centeral bank support from all things crypto.

 

[Kunkun]

Well the fact that they are used for illegal deals shouldn't be overlooked no doubt but outrightly banning private coins doesn't seem like the best course of action

 

[Trexxxy]

I don't understand what you mean by privacy coins. If this particular coin you speak of isn't recognised on most wallets, how then do they make use of it?

 

[eLdavis]

This is my first time hearing about such coin. I believe such coins should be banned. If it has been use for illegal activities more than once, then it is safe to say the coin itself the coin is not needed or they create certain policy to reduce the rate of illegal activities.

 

[Josemendez]

This is my first time hearing about such coin. I believe such coins should be banned. If it has been use for illegal activities more than once, then it is safe to say the coin itself the coin is not needed or they create certain policy to reduce the rate of illegal activities.

Well , not every one will know about the coin because the government's and exchange sites started banning the coins on time. This is why you can't see them in most exchange site.

 

[ahmedo24]

Monero was one coin that experienced a major crash by almost 98% last two years because it a privacy coin that the dark web was using , it recovered but currently down because of the market.

 

[Josemendez]

Monero was one coin that experienced a major crash by almost 98% last two years because it a privacy coin that the dark web was using , it recovered but currently down because of the market.

I am surprised that there are still some privacy coins in existence in some exchange site. Monero is no longer popular as it was some years back.

 

[ahmedo24]

Yeah ,it is still in existence and it would have fully recovered to it initial value if not for the bearish market, I wouldn't know if government is still puting her eye on the coin.

 

[Emmy]

Yeah ,it is still in existence and it would have fully recovered to it initial value if not for the bearish market, I wouldn't know if government is still puting her eye on the coin.

Is crpto legalized in your country because I wonder how government will put his eyes on the coin. Anyway if the coin is not indeed a bad coin, they wouldn't have mention it. It's just that we've to be careful.

 

[eLdavis]

Well , not every one will know about the coin because the government's and exchange sites started banning the coins on time. This is why you can't see them in most exchange site.

That is a good step then. I believe most coins are created by certain group of persons just so they can be used for fraudulent activities. That is just the main purpose of such coins. To be able to have an easy access to pass out cash

 

[ahmedo24]

If countries regulate cryptocurrencies it will help to reduce the rate at which coins are being launched with most not having worth or value to the system.

 

[Snazzy001]

Why should government ban privacy coins, does it create any gains for them? already knew as well that one day it will surely come to this

 

[ahmedo24]

Why should government ban privacy coins, does it create any gains for them? already knew as well that one day it will surely come to this

Privacy coins are the coins mostly use for illegal activities and terrorist sponsorship because they can't be easily tracked and it is not healthy for the cryptocurrency ecosystem.

 

[Funky]

I think that would actually be a better idea than banning the whole crypto currency market outrightly like most country are doing, we understand that crime is increasing through some private coins but this should not affect the whole market.