Re:MasterCard to open up network to cryptocurrencies
by solosoyokaze on Thursday February 11, 2021 @04:01PM
(#26107101)
The exchanges are becoming decentralized. Not just exchanges but other financial services, including the ability to earn interest. There are also other coins that are less traceable than BTC. It's only going to get more difficult for governments to track crypto, not less.
Re:MasterCard to open up network to cryptocurrencies
by PragmaticPulp on Thursday February 11, 2021 @04:39PM
(#26107671)
If all you care about is crypto and you're happy to use exchanges that don't care about regulations, that works.
But if you want to get money back out of the system or spend that money on anything, it has to go through an exchange located in your jurisdiction.
Also, watch out for the services that claim to deliver abnormally high interest on crypto investments. There's no free lunch.
Blockchain is a public ledger of every Bitcoin transaction ever. It's trivial to track these things. It's trivial to identify downstream coins from upstream illegal activity. Far easier than with traditional currency.
The exchanges will play ball because they want to continue exchanging (making money). The Bitcoin hodlers will play ball because it makes their investment more legitimate and reduces the supply of coins, increasing the value of their stash.