Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Monero, Zcash and Dash Facing Pressure from Cryptocurrency Regulators in Japan

by Daily Hodl Staff
April 30, 2018
in Regulators

Regulators in Japan are reportedly pressuring the country’s cryptocurrency exchanges to de-list cryptocurrencies with anonymous features, including Monero (XMR), Zcash (ZEC) and Dash (DASH).

Sources close to Japan’s Financial Services Agency told Forbes that the agency is “taking all available steps to discourage the use of certain alternative virtual currencies that have become attractive to the underworld because they are difficult to track.”

Japan’s Coincheck recently announced it’s removing Monero, Zcash and Dash from its exchange. The move is largely seen as an effort to stay in Japan’s good graces following the exchange’s multi-million dollar hack in January. Sources told The Japan Times that “Coincheck now recognizes the high risk posed by the three currencies when used in money-laundering transactions.”

The vast majority of criminal enterprises around the world are of course still using cash. However, a recent report from the security firm Bromium found that Monero is the new favorite cyber tool for money laundering.

A 2017 report from the European Union’s law enforcment agency Europol also found that “Monero is now accepted on a number of Darknet markets, and 2017 saw the first ransomware, Kirk, which used Monero for ransom payments.” That same report found “Zcash was due to be included in the currencies accepted by Darknet market AlphaBay.” The report did not mention Dash.

The regulatory pressure on privacy coins and their link to illegal activities mirror Bitcoin’s early reputation as a digital currency for criminals. A recent study by the Center on Sanctions & Illicit Finance, however, found that less than 1% of all Bitcoin transactions involve money laundering and illegal activities.

As Bitcoin and cryptocurrencies evolve, they are being used for all types of legitimate activities and transactions, just like cash. Monero, for example, is a favorite among top musical artists who have selected it as a payment method. The Dash Africa Projects Blog lists a number of initiatives that are helping underserved and unbanked communities gain financial freedom. In Brazil, Zcash is being included in SmartWallet, which allows users to pay utility bills, buy pre-paid credit for phones and even pay taxes.

[Snippet1]

Submit a Press Release

Industry Announcements

  • SRG Studios Is Launching Their NFT Collection – The Cosmic Coffee Cups
    May 16, 2022
  • Anonymous Turns to CultDAO for Support Against Unjust Government Actions
    May 12, 2022
  • Bnext Receives Additional $4.5 Million Investment, Led by Borderless Capital To Drive DeFi on Algorand
    May 12, 2022
  • Lina Valentina’s ‘No More’ NFT Collection Denounces Domestic Violence
    May 11, 2022
  • Cake DeFi Enters Into Esports With Competitive Gaming Platform FACEIT
    May 10, 2022
  • Introducing YUSE, the Ultimate Multi-Utility Token
    May 10, 2022
  • HUMAN Protocol Foundation Awards Grant to VeritaTrust To Build On-Chain Rewards for Reviews
    May 10, 2022
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$30,514.00
$30,514.00
1.29%
Ethereum
$2,090.37
$2,090.37
2.18%
BNB
$308.00
$308.00
2.66%
Cardano
$0.585839
$0.585839
2.59%
XRP
$0.431127
$0.431127
1.98%
Dogecoin
$0.090143
$0.090143
2.11%

Spotlight

  • Federal Reserve Says Private Stablecoins Vulnerable to Runs in New Report
    May 10, 2022
  • FTX Crypto Exchange CEO Sam Bankman-Fried Purchases Substantial Stake in Trading App Giant Robinhood
    May 13, 2022
  • CEO of $7,000,000,000 Hedge Fund Says Firm Hasn’t Sold Any Crypto Positions During Market Collapse
    May 16, 2022
  • Closely-Followed Analyst Says Crypto Markets Near End of Downtrend, Predicts Bounce for Bitcoin (BTC)
    May 11, 2022

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2022 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX

© 2022 The Daily Hodl