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Re:Ask HN: Why are privacy coins like Monero not seeing wide... by salawat on Tuesday July 26, 2022 @12:12PM (#32240205)
It is not a conspiracy theory. It is literally how financial regulations mandate the financial system works.

Non-cash anonymous financial transactions have been no-no for a long while, in particular under AML/KYC.

Over a certain amount, even cash transactions get wrapped in KYC/AML papertrail for law enforcement facilitation.

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