Cryptocurrencies are gradually losing their main advantage
Over the ten years of its existence, cryptocurrencies have gained unprecedented popularity among people working online or wanting to hide their income.
And this is not surprising, because the main advantage of Bitcoin and similar assets is the complete anonymity of the sender and recipient.
In addition, unlike a bank, you cannot send a request and receive an answer - How much money is stored in a person’s account.
That is, you can make a profit in cryptocurrency and no one will know about it, and then buy expensive things and also remain anonymous.
It is clear that this situation cannot please the state and its officials, who exist on the tax contributions of ordinary citizens and they are slowly introducing new rules and restrictions.
First of all, the restrictions affected some crypto-wallets, after installation of which you need to verify your identity by uploading copies of documents:
Then China almost completely banned not only mining, but also speculative transactions with cryptocurrencies.
And now the UK has also contributed to the fight against the cryptocurrency market by banning one of the largest exchanges, Binance, from carrying out operations in the country.
In addition, the UK Financial Conduct Authority requires that all companies operating in the crypto-currency market comply with anti-money laundering requirements. Countries such as Japan and Germany are taking similar actions.
It is clear that the main requirement in the fight against money laundering is personal identification, that is, we can say that the main advantage of cryptocurrencies – anonymity – is gradually being lost.
What's the point of paying large commissions and experiencing difficulties in calculating when you won't be able to save on taxes?
If this trend continues to accelerate, then the popularity of digital money will remain in history; it can only be used in those same offshore zones.