[Omniscient]

https://public-inspection.federalregiste...-28437.pdf

Everyone who values using cryptocurrency to overthrow tyrannical governments needs to understand what 1506-AB47 is attempting to do.

https://blog.coinbase.com/coinbases-resp...600acb15d8

Even Coinbase is against this crap.

Essentially what this new rule would require is that even with private wallets the exchanges would require a lot more data about funding sources. This is intrusive and disruptive.

If there was ever a time to buy Monero (XMR) it is right now.

I'm not sure how we fight against the proposal either. Or even if we can. The government does what it wants which is the problem and why we need crypto. We must end the stranglehold of printed money forever.

[P1R4T3]

I hope this won't affect crypto prices too much.

[Mewtwo]

So is this why Monero had a little boost up today? XMR is going strong, i believe in it.

[de_g3ntl3m4n]

looks like its time to checkout monaro and hope that the government fails in creating this, already have heard about France doing this..... its all about the g7 i think... but yeah I don't like this one bit either governments crazy

[Omniscient]

So is this why Monero had a little boost up today? XMR is going strong, i believe in it.

My guess is YES.

It is absolutely an issue that the public ledgers show balances of wallets.

Monero is the most popular blockchain with complete privacy in mind.

I really believe XMR could be top 5 crypto in the years to come. The biggest hurdle will be regulation and laws which might prevent XMR from being on reputable exchanges. Coinbase and Gemini for example refuses to add it due to regulatory pressure.

https://www.coingecko.com/en/coins/monero#markets


Kraken is one of the few that does FIAT who also support Monero but one has to wonder for how long if this rule passes.

[Parisian]

Kraken is one of the few that does FIAT who also support Monero but one has to wonder for how long if this rule passes.

Won't this thing make people dump the coin? Because they'll think it'll be "illegal" and harder to obtain(if the unlistings happen).

[Omniscient]

Won't this thing make people dump the coin? Because they'll think it'll be "illegal" and harder to obtain(if the unlistings happen).

It won't imho dump because the serious investors understand the difference between illegal and private.

I'll give you a real world financial example.

The Cayman Islands which is a tiny tiny country in the Caribbean is the 4th largest banking country in the world. That's entirely due to privacy.

[Her Goblin]

NYS absolutely sucks. Literally the crypto nazi state. I wanted to jump in GRT the day it launched on Coinbase and missed 600% gains lol.

Now it seems the Fed wants to take it to the same level. I wish I had easier access to privacy coins like XMR, especially in times like this.

[Swip3r]

Won't this thing make people dump the coin? Because they'll think it'll be "illegal" and harder to obtain(if the unlistings happen).

Doubt it'll be illegal everywhere, as long as there's somewhere to exchange it to FIAT or other crypto it should be fine.

[SIM-3343347]

I know SIM-3343347 would be against this teehee

Definitely, I might make a video on it & how absurd a exchange opens investigation on my crypto transactions.


Also agree with omni based on Monero...let see what 2021 bring to crypto

[๖ۣۜDødgygeez]

I just read this article and its states that FINCEN will be listening to the public opinion for a few more days.

FinCEN will be taking public comment on this proposed rule until January 4th.

This will give firms in the cryptocurrency space and the broader public a chance to push back against the law if deemed necessary.

https://www.btctimes.com/news/fincen-pro...al-wallets

[Nohandlebar]

see how weak centralized exchanges are with the recent delisting of some major coins due to the US. This is exactly why DeFi will grow to unimaginable heights as no entity has control. DeFi index is spiking due to these events combined with a strong reaction to the DeFi market.

[Omniscient]

Anyone been following the story and recent information?

btw, found this today...

Bitcoin Wallet Screenshot Generator

[Mr. Dave]

It won't imho dump because the serious investors understand the difference between illegal and private.

I'll give you a real world financial example.

The Cayman Islands which is a tiny tiny country in the Caribbean is the 4th largest banking country in the world.  That's entirely due to privacy.

Are you really this dumb or just playing dumb?

I mean. ROFLMAOLOL

[Ace Boogie]

Are you really this dumb or just playing dumb?

I mean. ROFLMAOLOL

Elaborate which part you think is dumb please?