Japan is trying to get privacy coins removed from cryptocurrency exchanges. Japan is traditionally ahead of the curve when it comes to technology so you can expect other countries to follow suit.
The obvious rational used for banning privacy coins is that they are used for illegal activity. Have we already forgotten that this is exactly what everyone used to say about Bitcoin?
Bitcoin is only used for drugs and terrorism.
This used to be all the news surrounding Bitcoin, until it became more popular and no one was buying the narrative. Why would it be any different than privacy coins today?
I invite you to read a recent post of mine about the police state:
https://steemit.com/politics/@edicted/beware-the-police-state
There is absolutely no reason to trust a centralized organization. Centralization breeds power and power breeds corruption . I invite you to read another recent post of mine about Amazon and Cisco filing blockchain patents:
https://steemit.com/news/@edicted/amazon-and-cisco-file-blockchain-patents
Amazon is making a play to identify everyone who uses the blockchain and for what purpose. Obviously, privacy coins are a threat to this agenda. Amazon will sell their information to anyone who is willing to pay. This is a very predictable beast. When considering a conspiracy theory one should always ask the question: Who benefits from lying in this situation? The answer almost always involves money.
I've already stated multiple times before, but it's worth repeating. Privacy coins haven't even come close to having their day. It's news like this that should have everyone running to invest in the privacy space, not run away from it. If you think you have nothing to hide then you don't have a firm understanding of how the world works. Innocent people go to prison all the time. The righteous are persecuted by the wicked on a daily basis. PRIVACY IS IMPORTANT. There are no ifs, ands, or buts about it.
It doesn't matter if centralized exchanges ban privacy coins. Privacy coins are here to stay. Decentralization is the way of the future. I am only writing this in an attempt to spread the truth. The system is rigged against all of us and I would like to see a collaborative effort to stop it in its tracks so that we can all prosper. Live long and #prosper Steemians.
Saying that these coins are used only for illegal activities is putting all cats in the same bag, a gross overgeneralization, since there was an study from a recognized UK based cybersecurity firm (specialized in creating tools to identify criminality associated with blockchain related transactions) that determined that less than 1% of the transactions to exchanges were illegal in nature.
These news is just the establishment panicking about losing control over their slave population
and trying to impose on us a Police State. Anyone with a thinking mind, should be willing to support and expand as much as possible the use of these and other cryptocoins. Let's make the State fall under their own weight.
http://bitcoinist.com/study-identifies-less-than-1-of-bitcoin-transactions-to-exchanges-are-illicit/
Governments can really do only 3 things...they can tax you, they can imprison you or they can kill you. They will try all three in the crypto space eventually.
This is the unfortunate reality of the world we live in.
They can just put up regulations to curb illegal activities, like more including cryptocurrencies in AML (Anti-Money laundering laws) or KYC requirements for all privacy coins investors.
Nice