RE: LeoThread 2025-05-03 06:32
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I think the "EU bans privacy coins" thing is FUD.
It's just an implementation timeline of what we already knew, namely:
đŸ‘‰ Anonymous custodial accounts are banned (non-custodial crypto wallets don't need to KYC)
đŸ‘‰Custodians need to be able to prove origin of funds (can't do that with Monero)
Both Zcash and Firo (to my knowledge) implemented exchange-only addresses so that custodians could still prove origin of deposited funds.
Dash's privacy roadmap doesn't prevent this from being able to happen either.
So from my understanding, this only affects custodians, and largely means they can't support Monero. But privacy isn't banned in the EU!
Again, I could be wrong, but I read the law when it was first proposed, then enacted. Show me where it categorically says privacy coins are banned.
Most governments are anti-privacy.
Yes, and the EU certainly is too. But let's stick to the facts of the actual law.
Even assuming your interpretation of the law is correct, they are attempting to make privacy coins not private. Its a bit like saying its legal to drive your car but wheels are outlawed. If you make something hard enough to use or remove its key feature, you dont need to outright ban it.
For sure, it's very clear they're trying to make privacy more difficult.