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> Except that we can trace these transactions on the chain and the on-ramps, exchanges, etc will delist privacy coins and also use the chain to blacklist addres
by ritwikgupta 4y ago
> Except that we can trace these transactions on the chain and the on-ramps, exchanges, etc will delist privacy coins and also use the chain to blacklist addresses tied to the scammers, preventing them from actually using that ransomware money and converting it to fiat; rendering it useless.
So centralized action is required to prevent abuse on this supposedly decentralized technology? Seems entirely counter to the point.
- rvz 4y agoThe regulators do not care and they will do whatever means necessary to limit the use of privacy coins being used for ransomware since they know they can't ban it. [0][1], Hence why the extreme calls to 'Ban all of it' and for them to 'Die in a Fire', is nonsense and is simply not going to happen, otherwise they would have done it already to all of them; which they didn't. Like it or not, they are starting with privacy coins [1] and will use regulations to wipe the non-compliant ones out. That is the likely outcome of all of this rather than the extreme remarks of both crypto skeptics and the crypto-maxis incorrect of all of them dying and all them succeeding. I'm just watching it all unfold. [0] https://www.euronews.com/next/2021/07/21/eu-will-make-bitcoin-traceable-and-ban-anonymous-crypto-wallets-in-anti-money-laundering-d https://www.euronews.com/next/2021/07/21/eu-will-make-bitcoi... [1] https://www.europarl.europa.eu/news/en/press-room/20220309IPR25162/cryptocurrencies-in-the-eu-new-rules-to-boost-benefits-and-curb-threats https://www.europarl.europa.eu/news/en/press-room/20220309IP...
- boppo1 4y agoHow is the EU going to prevent me from using my cold wallet?