There were recent concerns on Execute order on Digital Assets cleared by President Biden.
As per u/jarofchili post:In Section 7C it states and I'm quoting verbatim "The action plan shall address the role of law enforcement and measures to increase financial services providers’ compliance with AML/CFT obligations related to digital asset activities."
Makes me wonder, what is the worse that could potentially happen with Monero (XMR)?
- All KYC exchanges asked to de-list Monero
- All non-KYC exchanges fined heavily for listing Monero
- Peer2Peer & non-custodial exchanges like LocalMonero and CakeWallet delisted from Android/iOS and legally penalized for dealing with Monero, per jurisdiction
- Github (Microsoft, US) given ultimatum to remove Monero project & removes it
- Any atomic swap providers (domains) will keep popping up, and be brought down on government seizures
- More Darknet market seizures and clever government bots running Tor exit nodes
- All western/Asian/Chinese/Russian countries get together to place an outright ban on privacy coin activity
- Anyone found to deal with Monero, or any source of money trailed out from Monero (e.g. Monero -> Bitcoin) will be tracked. When such Bitcoin enters a KYC exchange to be cashed out - will be frozen without reasons.
- Any post promoting Monero on social media; their (twitter) accounts banned - or provided up to 3 warnings, before their account is taken down.
- The only cash on-ramp would be via CBDCs. And direct purchase of Monero would be tracked and blocked - as much as possible. All different countries' CBDCs will be interoperable via cross-blockchain to better collaborate/track-n-trace citizen activities.
# More extreme possibilities:
- Government starts mining Monero on large scale, to provide a 90% attack (iso. 51%) to double spend
- Government buys tons of Monero while shorting Monero on exchanges, on a large scale. The Monero accumulated would be sent to 0x0000 NULL address & be burnt forever, reducing circulating supply.
- Monero developers tracked/traced/be bribed to somehow introduce vulnerabilities in software releases.
- Monero domain attacked, vulnerabilities introduced in software downloads (by replacing binaries/executable with a custom version, only verifiable by checking it has a different checksum than intended).
- Outlandish media lashout that Monero is used for illegal activities, CP, guns, drugs, and concoct such examples that would make look Monero in a bad light.
These are the possible worse case scenario that I could see happening. Therefore, it would be in the best interest of Monero community to together innovate on a Plan-B direction to bypass the above and be a few steps ahead of such events so that no-one can do no shit to Monero!
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