Should Government ban privacy coins ?

[Kelly5]

If you're saying the government should ban privacy coin because you think they have been used and are been continued to be used for illegal activities. Before the arrival of cryptocurrency, was fiat not used and are still been used today to conduct illegal transactions?

 

[Seno inyang]

If government takes a drastic decision on banning personal coins then it's mostly because the scam rate which most people are using these crypto currencies to scam their fellow humans. But the government has no right to place a ban on any personal coin though they should be out to advice the people who make investments to be very careful by carrying out due delligence before embarking on it.

 

[Skysaint]

If those who use this privacy coins you just made mention of cannot use other cryptocurrency to carry out their work and they are few in number then I would suggest they ban it because cyber security is actually needs to be observed in the crypto market

 

[Sotherefore]

Cryptocurrency generally is private and encrypted which indicates there is no way to trace the transaction and who even did the transaction, so I don't even see any difference between cryptocurrency and a privacy coins, both of them are highly encrypted.

 

[Emmy]

Government shouldn't ban privacy coins because it has been helping people to performs private transaction which can never be traced by hacker and fraudster. It has reduced the issues of hackers and fraudster in the country

 

[ahmedo24]

Government shouldn't ban privacy coins because it has been helping people to performs private transaction which can never be traced by hacker and fraudster. It has reduced the issues of hackers and fraudster in the country

Majority of people running private transactions are you using it for illegal activities especially money laundering and other cyber crimes this remains a serious concern to the government and the need for them to ban privacy coins

 

[Nomad]

Some privacy coins are so private that you cannot find how who sent funds to whom. This kind of secretive technology will create money laundering issue, funding terrorism, etc.

 

[Blessedsam60]

I will support that privacy coins should be ban as these coins might resort in people being scammed. Alot of shit coins are used to defraud people alot.

 

[HayKay]

This is part of the reasons why I always advocate that monitoring agencies or regulations should be put in place to checkmate the excesses of illegal coins or those that just aim to swindle people of their hard earned money.
Take the instance of squid coin as an example.

 

[Kubiat-Abasi]

I don't think it's a wise decision. Instead of placing a ban or restriction, can't it be used and it would be accountable by restructuring its policies or regulated.

 

[Bookwormlux]

Since the government has not decided to ban crypto currencies generally, then there is actually no need to ban some crypto currencies just because they're private coins.

 

[Keibah]

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 ?

I think coins like this should be banned. Of what use is something that makes people suffer and scam them off their sweat and hard work.

 

[Robust]

Any coin that's against the law of any country should be ban because it has led to some many scamming and illegal activity in the country.

 

[Justin]

Privacy coin transactions are hidden from blockchain, they cannot be tracked or traced, which makes them easier payment option for illegal activities. I think they should be banned.

 

[greenie]

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.

 

[Dagm1]

I don't believe it should be prohibited because other other crypto currencies are likewise difficult to trace, allowing them to operate for primarily trading purposes.

 

[Sotherefore]

Bitcoins and other cryptocurrency is generally encrypted and every transaction that happens in the block chain technology is very difficult to trace, a fraudster may ask for payment in bitcoins and it will be very difficult to stress... So privacy coin does not really matter

 

[Laurentta]

No, governments should not ban coins because i don't see how it's affecting nations negatively rather i feel it's even generating more income for people.

 

[Ononivami]

The privacy coin should not be banned because it has its own uses. The privacy coin is meant to keep your transaction or payment very private. These coins are mostly used by the government for classified transactions.

 

[Sincerem]

There has been no moral compose insinuating that privacy coins are only used for illegal activities. But if this stands to be the case then it would be right for it to be banned so as to curtail it's illegal uses.