Monero (XMR) has largely been range-bound after establishing an ATH in December. The market cap currently stands at US$33.3 billion on US$66.6 million in trading volume over the past 24 hours. Regulatory scrutiny of cryptocurrency is growing worldwide.
Head of the International Monetary Fund, Christine Lagarde, wrote in a blog post earlier this week that anonymity of transactions will help facilitate “money laundering and the financing of terrorism”. The European Union Commission Vice-President Valdis Dombrovskis also shared concerns about the anonymous nature of cryptocurrencies earlier this year.
The IMF and the Financial Action Task Force on Money Laundering have both stated that the aggregate value of money laundering is between two and five percent of the world’s gross domestic product, at about ~$2.5 trillion annually. Despite Bitcoin’s seemingly anonymous nature, addresses are actually pseudo-anonymous.
All transactions are openly stored on the blockchain and identities can be associated with addresses and transactions using chain analysis. Truly confidential transactions are 100% amoral, however.
They are essentially returning to the untraceable nature of cash, and no doubt they do make criminal activity easier. They also guarantee 100% fungibility to all coins, making each coin and transaction indistinguishable from one another. Read more from bravenewcoin.com…
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