Japan Banning Anonymous Coins, Warren Buffet Hates Bitcoin
The Japanese Financial Security Agency (FSA) says it will impose a direct ban on all cryptocurrencies from June 18..
The innovation will affect the circulation and trading of confidential virtual currencies such as Monero (XMR), Dash (DASH), Augur (REP) and ZCash (ZEC). The regulator claims that the main prohibition is the fight against illegal activities in the cryptocurrency market. The reason for this decision was the hacking of the CoinCheck crypto exchange and the theft of NEM (XEM) for $ 400 million. Due to the confidentiality of the confidentiality of the coin, it was difficult for the authorities to track the hackers..
Although the authorities have good reasons for introducing the ban, in addition to self-regulation, stabilization and decentralization, cryptocurrency attracts many with privacy and anonymity. In some cases, the loss of confidentiality can lead to a decrease in the attractiveness of projects. In addition, now exchanges can deny listing to startups conducting ICOs, due to fear of a ban.
Japan was one of the first countries to start regulating cryptocurrency and legalized it back in the spring of 2017. Now the yen is used in 60% of trading transactions with bitcoin, so the decision of the Japanese regulator could affect the government and exchanges around the world..
Recall that the head of the Bank of Japan called for a balanced attitude to digital currencies.
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