Isn't this just an attempt to bring crypto in line with existing money-laundering rules? Don't $10k+ money movements already trigger IRS notifications?
I know that's a bit whatabouttery but if we want to legitimise blockchain payments, we have to do more to kick organised crime and tax evaders out. Pretending that absolute privacy is always best is a criminal wet dream.
The vast majority of cryptocurrency advocates are speculators that don't want to legitimize blockchain payments, they only want the number to go up. Criminal activity has been shown over and over to be the only "legitimate" use case of cryptocurrency, so if you eliminate that the number might go down.
I know that's a bit whatabouttery but if we want to legitimise blockchain payments, we have to do more to kick organised crime and tax evaders out. Pretending that absolute privacy is always best is a criminal wet dream.
Waves goodbye to his karma