European Union proposes ban on anonymous cryptocurrency wallets (Cryptocurrency:BTC-USD)

in DLIKE6 months ago (edited)

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The European Union is proposing a ban on anonymous cryptocurrency transactions as part of a broader effort to fight money laundering and hinder terrorism financing.


The question they need to ask is, "how would they ban DEXes and all the anonymous wallets? If implemented they would have partial success but would never be able to fully succeed. This is especially so, with those tech savvy people who are bent on being anonymous. Of course a large section of the society including corporations would comply but there will always be some hardcore delinquents who will defy the rules.

Just a few days back Shapeshift announced its plan to go decentralized from a centralized corporation registered in the U.K. How would they ban Shapeshift when it has no corporate legal persona? Who will they ban? 

Binance is already showing reluctance to follow the strict rules being imposed by authorities in several countries earning their wrath but still remaining the number one crypto exchange. 

Even the average non-tech investor in crypto would probably start learning how to go anonymous in the light of constant harassment from the authorities. In some countries, it is the lay person who the authorities go after whilst letting go those who are politically connected and those who are powerful otherwise. 

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