Matthew Driver “Trust Is A Critical Component” | Perspectives | Channel NewsAsia

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CryptoPunk · 2021-04 · Criticism

>>tax evasion and illegality hiding (which it isn't even good at). This is just a Big Brother smear against privacy, with a socialist twist emanating from those with a financial stake in empowering the state and its dependent industries over the private citizen. Exactly your arguments are made in the campaign to criminalize the use of cash: [LINK] Credit card company representative's statement on it in 2014: >There's huge interest in cryptocurrencies and what perhaps they can create in the market place. Now we at MasterCard are not completely comfortable with the idea of cryptocurrencies largely because they go against the whole principle that we've established our business on which is really moving to a world beyond cash and ensuring greater transparency.. If you think about it, cash is a problem for a number of countries. Cash really facilitates anonymity, it facilitates illegal activity, it facilitates tax avoidance and a range of other things that aren't going to drive efficiency in an economy - [VIDEO] >If it's an anonymous transaction, that sounds like a suspicious transaction. Why does somebody need to be anonymous? - [VIDEO]

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CryptoPunk · 2019-10 · Criticism

The article takes it is a priori that laws that institute warrantless mass surveillance of financial transactions, aka AML/KYC, are good. This is an opinion held mostly by those in the elite: people living in wealthy/politically-powerful countries, and or those with lucrative jobs in government or government-protected industries like banking. The President of Mastercard South East Asia sums it up: [VIDEO] "If it's an anonymous transaction, that sounds like a suspicious transaction. Why does somebody need to be anonymous?" AML/KYC laws create global second class citizens and massively centralize power in the hands of whichever state has the critical mass of financial power, which right now is the US and which one day could be another state that authors like this wouldn't be so enthusiastic about. A great write-up on what KYC/AML laws, which are euphemisms for laws criminalizing financial privacy, mean for those outside of the elite circles: [LINK] Another relevant article: the War on Cash [LINK] >>The proclaimed Death of Cash is thus an episode in the broader drama that is the Death of Privacy, the death of breathing room, and the death of informal, non-measured, unaccounted-for behaviour.

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Jabanga · 2017-07 · Criticism

>why not blacklist coins that have been through a mixer? If you can't mix the coins, you can't launder them. It won't be possible to use Bitcoin for these activities anymore. This would totally eliminate privacy. It would be no different than making HTTPS illegal. It's not just criminals that use privacy technology. Eliminating privacy in money for the sake of eliminating some crime at the margins is giving up the farm to gain a horse. It's making a situation where everyone is subjected to mass-surveillance, and power concentrates to a small politically connected elite that can monitor all private interactions, exponentially more likely to be realized. It's very dangerous to society. [LINK] >There's huge interest in cryptocurrencies and what perhaps they can create in the market place. Now we at MasterCard are not completely comfortable with the idea of cryptocurrencies largely because they go against the whole principle that we've established our business on which is really moving to a world beyond cash and ensuring greater transparency.. If you think about it, cash is a problem for a number of countries. Cash really facilitates anonymity, it facilitates illegal activity, it facilitates tax avoidance and a range of other things that aren't going to drive efficiency in an economy - [VIDEO] >If it's an anonymous transaction, that sounds like a suspicious transaction. Why does somebody need to be anonymous? - [VIDEO] MasterCard SE Asia President on cryptocurrencies and cash

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