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No, there is another risk here. At some point Monero could be dropped by exchanges due to regulatory pressures or even perceived exposure, since every transacti
by jeremyjh 6y ago
No, there is another risk here. At some point Monero could be dropped by exchanges due to regulatory pressures or even perceived exposure, since every transaction involving it is untraceable they could find it impossible to implement future tracking and reporting requirements. This sort of thing is not unprecedented, just look at Poloniex (which never dealt in actual dollars, only Tethers) who finally gave up and banned all US custmers. This, of course, would devalue the currency.
- digianarchist 6y ago>At some point Monero could be dropped by exchanges due to regulatory pressures or even perceived exposure Could be argued that it hasn't yet been picked up by exchanges for this reason. Also, looking at the more corporate friendly Zcash which was dropped by Coinbase UK [0]. Likely from pressure from their banking partner ClearBank. These coins won't last without a mechanism to covert to fiat. [0] - https://www.coindesk.com/coinbase-uk-dropping-support-for-cryptocurrency-zcash https://www.coindesk.com/coinbase-uk-dropping-support-for-cr...
- RandomBacon 6y ago> Could be argued that it hasn't yet been picked up by exchanges for this reason. Monero is traded at Kraken, a U.S.-based exchange. Kraken even has a banking charter in Wyoming.
- akimball 6y agoOn-chain atomic swaps with Bitcoin reduces fiat exchange to btcusd exchange.
- 3np 6y agoLook at Japan for an example of a country (there are probably others?) where exchanges are not allowed to list or trade Monero, Zcash et al.