What do you think of those cryptocurrencies proposals from G20?
Industry proposal on cryptocurrencies, cryptoassets and blockchain regulation.
And what this means for BticoinZ, when stated in a line:
NO to restriction of private transaction between individuals?
If I understand correctly, they want to ban private coins, therefore BitcoinZ can be hurt over this regulation if accepted?
Thanks for your answers.
As I understand this āNOā, they will not restrict privacy coins.
when is this going to be over? I think itās interesting that preliminary information - if it was true - that they donāt see crypto as threat to current financial system - Iām wondering if thatās just a way to not classify it as an actual currency.
Of course, I would rather they donāt see it as a threat so that it allows progression.
Regarding privacy, I think coins that allow for both public and private transactions shouldnāt be excluded. The argument is still though that you can move your money to private addresses. However, privacy against all vs. privacy against entities (including government and corporations) seems to be the āissueā with this.
In their eyes, I assume privacy laws for banking are OK because governments can approach your bank and force them to abide by laws to turn over your information, but if you are your own bank - they have to now pierce through your rights as an individual, which sometimes is more of a battle.
I have read the report which can be foud here and it looks like transparency is pretty important.
It is great BTCZ have both T and Z, therefore should not be an issue in the future when regulators may hit us hard ^^
Well weāll just have to wait and see, but in the end I believe noone will be able to shut us down ; )