In Japan, the Financial Services Authority (FSA) is looking for ways to stop using Monero , DASH and ZCASH . All this, because these currencies are more likely to favor illegal acts by different criminals. Forbes says that the FSA is looking for ways to stop people from using these types of altcoins. Since, these are always linked to money laundering because they are attractive for cybercriminals.
DASH, ZCASH and Monero are being investigated by Europol and the London police for various reasons. The most striking of them is that these cryptos allow to mask the real information of the user who makes the transaction . It is almost impossible to detect who are the users that issue or receive funds within the chain. These can be a bridge to money laundering, purchase of arms, tax evasion and many other actions.
Cryptocurrencies gain negative fame in illicit acts
Many illicit acts have been carried out through cryptos, clearly reducing confidence in different governmental bodies worldwide. It seeks to eliminate these altcoins that allow the elimination of illegal acts that clearly damage the financial world . Already in Japan, Coincheck does not trade DASH, Monero or ZCASH for being complicated to monitor and easy to apply hacks.
This same problem that we have today, faced almost 6 years ago with BTC and SilkRoad. But it is clear that many illegal acts are financed in different types of world currencies . In addition, if the cryptocurrency is regulated, it could continue to have unlawful acts with the fiduciary money of the traditional bank. Concrete measures are expected from Japan in regard to these Alcoints, it is only necessary to continue waiting for information in this regard.