5 ms·

Because if you are a politician who bans the crypto you won’t be ever elected again. Thus, you do it sneaky way.

jacquesm 5y ago
The disconnect with reality is quite astounding. Do you actually believe that the majority interest right now lies with crypto? 'Normal' people have heard about it but have never in their life used crypto for a payment.
- miohtama 5y ago
  Cryptocurrency regulation is being discussed in the US, in the EU, in Russia. 50% millenials hold crypto in the US https://cointelegraph.com/news/low-millennial-financial-well-being-drives-crypto-adoption-report https://cointelegraph.com/news/low-millennial-financial-well... Top cryptocurrency users are in Vietnam, Pakistan, Ukraine and India https://blog.chainalysis.com/reports/2021-global-crypto-adoption-index/ https://blog.chainalysis.com/reports/2021-global-crypto-adop... While cryptocurrencies may not matter for you, or people around you that you identify as normal, based on the facts the topic matters a lot for lawmakers, politicians and large audiences you may not know.
  - jacquesm 5y ago
    50% of millenials is not 50% of the voting public. And yes, regulation is being discussed, that's what this article is all about. For pretty good reasons, the whole idea that there would be a forever unregulated way to transfer vast sums of money instantly is a pipe dream at best.
    - miohtama 5y ago
      The article is about setting the reporting threshold to zero, not to some meaningful number that would prevent crime. What would be a comfortable purchase amount for you that you would like to have someone else to read your receipts? For the perspective, the FAFT recommendation is $1000.
      - jacquesm 5y ago
        That reporting threshold is a direct consequence of tricks like mixers and other anonymizers. It is a neat tech trick but it is also just another form of smurfing / structuring.
        miohtama 5y ago
        Do you think there could better ways to automate smurfing detection that setting the reporting threshold to zero?

The disconnect with reality is quite astounding. Do you actually believe that the majority interest right now lies with crypto? 'Normal' people have heard about it but have never in their life used crypto for a payment.

miohtama 5y ago
Cryptocurrency regulation is being discussed in the US, in the EU, in Russia. 50% millenials hold crypto in the US https://cointelegraph.com/news/low-millennial-financial-well-being-drives-crypto-adoption-report https://cointelegraph.com/news/low-millennial-financial-well... Top cryptocurrency users are in Vietnam, Pakistan, Ukraine and India https://blog.chainalysis.com/reports/2021-global-crypto-adoption-index/ https://blog.chainalysis.com/reports/2021-global-crypto-adop... While cryptocurrencies may not matter for you, or people around you that you identify as normal, based on the facts the topic matters a lot for lawmakers, politicians and large audiences you may not know.
- jacquesm 5y ago
  50% of millenials is not 50% of the voting public. And yes, regulation is being discussed, that's what this article is all about. For pretty good reasons, the whole idea that there would be a forever unregulated way to transfer vast sums of money instantly is a pipe dream at best.
  - miohtama 5y ago
    The article is about setting the reporting threshold to zero, not to some meaningful number that would prevent crime. What would be a comfortable purchase amount for you that you would like to have someone else to read your receipts? For the perspective, the FAFT recommendation is $1000.
    - jacquesm 5y ago
      That reporting threshold is a direct consequence of tricks like mixers and other anonymizers. It is a neat tech trick but it is also just another form of smurfing / structuring.
      - miohtama 5y ago
        Do you think there could better ways to automate smurfing detection that setting the reporting threshold to zero?