Ok you said a lot, so let's breakdown what you said bit by bit:
the whole privacy coins are a tool for money laundering or are more︁ risky than any other financial instrument is just pure nonsense, sorry. These are not my︂ words, these are the words of
perkins Coie, one of the most prestigious lawfirms︃ in the whole world,
here is their report about privacy coins.
And in summary,︄ they said and I quote "
We conclude that privacy coins protect legitimate individual and︅ commercial privacy interests and that existing financial regulations sufficiently address the AML issues that privacy︆ coins present" and they continue "
Not only do privacy coins provide public benefits︇ that substantially outweigh their risks, existing AML regulations properly and sufficiently cover those risks, providing a proven framework for combatting money laundering and related crimes."
So, here you︈ are, you have a prestigious law firm that says that current AML laws cover privacy︉ coins well enough. it's just that there are regulators who are pretty dumb to comprehend︊ that.
if it became illegal in one place, that doesn't mean it will be︍ illegal in the other, just like how we are searching for alternative tax residence, we︎ will find an alternative legal crypto friendly jurisdiction, and this even easier since you can️ change your location digitally, I like to think of privacy coins as a swiss numbered bank account that you can take anywhere but it's digital.
Also it doesn't matter if society touches them or not, the vast majority of society doesn't give a s**t about taxes, they say they do, but they vote for politicians who increase these taxes, and then they start complaining again and the cycle continues. The only people that care about taxes and do something about it or find alternative means to reduce their tax burden are few and far between.
And I think most people in this forum fall into︀ the latter group, we go and find alternative means to make our life easier, it's︁ not a simple process but yet we still do it. Same with crypto, gold and︂ banking. nothing in our world is really "simple".
I doubt that all of this will happen but let's assume so. this︈ why I'm taking about p2p crypto specifically. go and travel to asia (Singapore, HK, Malaysia,︉ Thailand..etc) and you will find that p2p crypto is the king there. mobile wallets, cash︊ in person, local bank transfers and lots of other payment methods are the way to︋ go. these are done by OTC desks and individuals and in any amount big or︌ small, and there is no interference from financial bodies for such transfers. it's way easier︍ than you might think.
come on, Are you really comparing trading crypto with trading with north korea? lol.
If someone is really engaging in such dangerous trades, then I'm sure he can cover his own a*s, just like how cartels and other criminal organizations cover their own too. And i'm sure they will use the regular banking system just like how it happens right now in the real world.
