Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Jereh on November 28, 2018, 10:02:43 AM
-
I understand that the annonymous structure of the blockchain technology is indirectly encouraging criminal activities such as money laundering, terror financing, drug trafficking etc.
This is due to the fact that there is no measure in place to help in linking a Cryptocurrency wallet to it's owners offline address.
-
I think the best solution would be to compel exchanges to implement AML/KYC processes .
And if possible mandate Cryptocurrency wallets like blockchain, paxful, etheruem wallets, mew, imotoken etc to implement kyc procedures.
This will reduce the pervalent of these criminal activities to the bearest minimum.
-
I think by using KYC will be good solutions for this problem, by using KYC this will be make the users thinking twice to make a crime activity like you say, but I think isn't enough just by this, I hope there will be a solutions to fix this problem, because that will be make a crypto reputation gonna be bad.
-
Bad guys won't stop to take advantage the weakness of cryptocurrency. They can scam people as much as they can due to aggressive community to invest in ICO without searching if it is legit. It is individual responsibility to avoid such scammers through taking care your time as gold and not just a waste of time at the end. If I were ask about this matter how to stop? The best solution that no one will got victim again is to banned cryptocurrency. This is the best solution to totally stop the fakes, scammers, and unwanted things in crypto that result to disappointments and feeling broken.
-
Most solution offered here are good ideas but i want to also point out that before the coming of crypto, there have been numerous activities of cyber attack, scam, criminals founding and even gambling in the world. I think many of these activities may still be there even with the solution stated. My take on this issue, is for everyone to be vigilant and spreed every illegal activities to friends and relatives
-
The solution provided on the dicourse thread are all sound. But my question is : can this be implemented successful since there's no regulatory body that regulates Cryptocurrency activities.
-
I do not think there is a permanent solution to stop these illegal transactions on the blockchain. Cryptocurrency exchanges imposing KYC for larger transactions was a good step to make it more difficult but that does not really stop them.
-
Anonymous structure of blockchain technology is really main reason for the maximum Govt's ban declaration. They have no control over Blockchain transactions. It may lead to crime.