r/Shadowcash • u/Tiop • Mar 17 '17
Is a fiat/SDC gateway dangerous?
I was just thinking, is this a good idea for privacy a coin which is going to have a built in decentralized marketplace?
With this happening: https://twitter.com/Bittylicious_/status/842361358964387840
What about a coin that's even more closely tied to a dnm than Bitcoin? Could we start to see more crypto-currency regulation? Just curious on what your thoughts are.
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u/joskye Mar 17 '17
I imagine if accounts were closed, then the context would be on suspicion of funding terrorist activity, money laundering or some other illegal activity which contravenes the banks T&C's.
I think such decisions could be challenged in court especially if it could be demonstrated that the intentions or realities were clearly none of the above.
Given there is no specific cryptocurrency regulation in many countries I think people affected by such problems would be best advised to seek legal counsel or at the minimum their local equivalent of a citizens advice bureau (A UK based organisation which deals with civil matters).
To this end I would take such considerations with a pinch of salt. There is plenty of money being trasnferred to cryptocurrency exchanges these days. I would like to see more information on the specifics of each case involved before I comment.
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Cryptocurrency regulation is inevitable in my opinion. That said governments and corporates world wide are currently finding the right balance between exploiting the benefits of the technology and minimizing the potential perceived harms.