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Prior to the ban, most people bought cryptocurrencies by making bank transfers to cryptocurrency exchange operators. It’s trivial for them to determine which pe
by seunosewa 6y ago
Prior to the ban, most people bought cryptocurrencies by making bank transfers to cryptocurrency exchange operators. It’s trivial for them to determine which people have sent money to or received money from those accounts.
There is going to be a shift to P2P transactions using cash as a result of the ban; which are harder to trace but also less convenient, unsuitable for large transactions, and more risky in a country which is poorly policed. A lot of people will be scammed and robbed while attempting P2P crypto transactions.
So while they won’t find everyone who has traded with cryptocurrencies, that is no comfort for those they have found.