![]() Financial Conduct Authority and the international Financial Action Task Force (FATF) have issued their own regulatory guides about it, or have included these coins in their Anti-Money Laundering (AML) rules. Financial Crimes Enforcement Network (FinCEN), the U.K. Writer, researcher, bitcoin enthusiast Actual regulations for privacy coinsīeyond the current bans in the said countries, there are also some existent regulations for privacy coins, as was described in a whitepaper by the legal firm Perkins Coie. secret service is probably investigating them right now, several exchanges worldwide have delisted these coins due to banking or regulatory pressures and, the cherry on the cake, Japan and South Korea have already banned the privacy coins.Īuthor: Isabel Perez, Alfacash blogger, specializing in cryptocurrencies since 2016. France’s finance committee has recommended a ban for these coins, the U.S. However, the fact that the authorities can’t properly track the money when is converted into a privacy coin is more than worrisome for them (apparently they don’t know cash yet).Įuropol has categorized them as “main threats” because they consider that privacy coins would facilitate illicit business and money laundering. ![]() Of course, Bitcoin and American Dollars (or any other currency) work just perfectly for the same dark purposes. So, they supposedly can work for money laundering, terrorist financing, awful purchases in the Darknet, and so on. At least, when privacy has to do something with money… just like it’s the case with privacy coins. Privacy is a fundamental human right (declared by the UN last century), but for some authorities also means shady issues and troubles. ![]() 5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino.
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