Over the past few days, shocking and terrible news has been a major issue in Korea.
Criminals made illegal spy cam sexual videos by threatening women and kids through phishing. And it was traded at telegram channel. Operator was arrested and police are now investigating other participants.
No one will deny that these evil villains should be condemned.
But what we should note is that buyers used monero to buy illegal videos. Most of them were detected by law enforcement because they sent coin directly from local KYC exchange, not a private wallet.
Koreans are now paying attention to monero's anonymity and censorship resistance.
They claim that privacy coin, such as Monero, is a hindrance to law enforcement agencies for investigating cybercrime and it should be banned.
I also heard that Huobi Korea is considering to abolish monero in the trading list.
Last week, cryptocurreny became legitimized in Korea. However, the details of the regulation will be decided by an Enforcement Decree set by the President. In other words, if the government wants, banning the privacy coin may be specified as a condition for VASP to obtain a business license.
The government has already considered this last year.
Korean crypto community, government and the media call the privacy coin a negative nickname, 'dark coin'. For them, Monero is not a tool for privacy and human rights, it is just an evil coin used by pedophiles and cybercriminals.
I think banning monero is as foolish as blocking Tor or telegram. But the public only pays attention to the fact that this great technique was abused for terrible crime, don't know how dangerous it is to sacrifice privacy just to arrest criminals.
The situation is going totally negative...
via Monero: the secure, private, untraceable currency https://ift.tt/3dxX48E