Topic: Are Crypto Privacy Coins and Mixers Illegal ? - page 2. (Read 244 times)

I think they start illegally connecting it when it helps illegal services such as sending money to banned countries or hacking money and these mixers do not cooperate with the authorities then they have enough reason to close these services.
As for the service itself, what is the difference between it and the Tor or VPN service, both of which make tracking the average user very difficult, but some of these services share data with the government, and therefore they do not mind making these services continue.

They are not illegal years ago but now governments and their authorities are more considering privacy coins and mixers are illegal. Over time, more money laundering activities on privacy blockchains and mixers so governments pay more attention on it and don't want to lose their control on cash flows in societies.

The easiest way to prevent less people to use those tools is to make it illegal and people use it will be considered as criminals.

Well looking to buy individual privacy coins, ICOs, or mixers? You're not alone. At this point in the crypto boom, there's more crime than ever before. Scammers are preying on innocent investors with the promise of high returns by using all sorts of different tactics to trick people into believing they're getting in on a good deal. In fact, it's estimated that scams like these might cost us as much as $20 billion this year alone!

As WillyAp said a lot is going to depend on where you live.

I'll say this while wearing a sig for a mixer (sorry Royce)

There are other ways of separating ownership of coins (coinjoin / join market).
Some exchanges that have email verification only
P2P markets
And so on.

Mixers / privacy coins just kind of make it easier.
So even if they could stop mixers / privacy coins, witch governments probably can't since they would just reappear elsewhere. There would be other options, and getting all of those would be just about impossible.

-Dave

Depends in which country you are living. In theory you can do with your money what you please, Cryptos are not forbidden.

Privacy coins and mixers are designed and engineered to make transactions which conceal the identity of end users, allowing them to maintain a relative degree of anonymity.

While many who are not knowledgeable overreact assuming sinister motives are involved. Privacy coins and mixers are no different from browsing the internet with an adblocker. Most people do not want the fuss of having their transactions being scrutinized by random 3rd parties who will spam them with nonsense advertisements related to their latest purchases. Most also do not want their data sold for profit, if they can help it. This leads to cases of moral and acceptable utilization of privacy coins and mixers.

The complexity and coding of most privacy coins and mixers is typically not suitable for criminal applications. Using apps which leave digital footprints across the internet are not a good method for laundering money. Gold and cash are king when it comes to conducting criminal transactions.

At the moment, privacy coins and mixers have no specific laws which make them illegal. Most of the action taken against coins and mixers have been under the direction of regulatory bodies like the SEC. Which have been taking action, without having to prove anything illegal occurred in court. Or even having to prove that any laws were violated.

While that could change as AML (anti money laundering) proposals are considered. Which might eventually deem mixers and privacy coins illegal.

There are no specific laws or regulation which have been passed in the united states that says privacy coins and mixers are illegal and outright banned.

As proof of this, we see there remain mixers and privacy coins operating with a presence inside the USA.

While some have claimed mixers are "obviously illegal" I have yet to see them cite any proof or evidence of this.