Canada Worries About Cryptocurrencies

Canada is worried about cryptocurrency anonymity. The Globe and Mail reports that new technologies need to be developed that can penetrate the  “veil of anonymity.”

Money laundering is one part of the problem, though using cryptographic addresses can help penetrate anonymity.

The larger issue is that central banks want control. We can see this in China where central banks shut down cryptocurrencies rather than lose control.

Over time more and more central banks will take drastic action. And cryptocurrencies will develop new ways to defend themselves, This ongoing struggle won’t be resolved any time soon.

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