The SEC is Attempting to Reclassify CryptoCurrencies as "Securities" - May lead to Americans being unable to participate on Crypto Exchanges

submitted by WarmPotato from (helplbrysavecrypto.com)

sorted by:
top
newinsightfulfun
you are viewing a single comment's thread.

view the rest of the comments →

[–]hennaojichan 7 insightful - 1 fun7 insightful - 0 fun8 insightful - 1 fun -  (5 children)

Japan has banned Monero. There is probably a way around it but if you openly declare where you live, you can't buy it. I'm wondering if this will become a trend among other cryptos.

[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (4 children)

What about buying some other crypto and trading it for XMR? I'm sure they can do that?

[–]hennaojichan 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (0 children)

Thanks. I am not a crypto expert but learned a bit when BTC crossed $20k.

[–]goatmeal 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (2 children)

the problem appears when you have to submit KYC to buy the traceable crypto and then it ends up on a banned exchange. they will be able to tell that you are trying to trade it for XMR.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

What is KYC? Only XMR is untraceable?

[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Know Your Customer. Banking laws for proper taxation of customers, really.