Published on May 29th, 2018 | by bitcoin0
Japan provide outright ban on all cryptocurrencies
And this is no more apparent than when discussing the current state of privacy coins.
For the most part, Japanese exchanges are listening, pulling four major privacy coins — monero (XMR), dash, Augur’s reputation (REP), and zcash (ZEC) — from their platforms.
In their assessment of privacy coins, the FSA explicitly stated that a primary justification for its preemptive ban was to eliminate bad actors from being able to conduct criminal activity under the guise of anonymity.
If the hack on CoinCheck was a primary justification for the FSA’s decision, then privacy coins were an unfortunate scapegoat.
The FSA decision is one of the first instances where a government entity has questioned the status of privacy coins and their ability to positively impact our commercial ecosystem.