News Crypto and cryptocurrencies

Dash, according to the development team, is not a privacy coin

A statement which, however, needs to be verified

The theme of privacy coin continues to stir things up in the world of cryptography. The obsessive search for confidentiality, pushed to almost total anonymity, makes these virtual coins a real bogeyman. In particular for the authorities responsible for combating money laundering and tax evasion.
Among the main defendants in this sense there is also Dash, long referred to as a token used on the Dark Web, that is the part of the Internet where illegal trafficking in drugs, weapons and human beings takes place. An association which, however, according to at least the latest statements, the working group of Dash does not accept.

Dash coin - According to the development team, Dash is not a privacy coin

Dash is not a privacy coin

Second Dash Core Group, the association that oversees the asset and its development, Dash it is not a privacy coin. Or at least it isn't anymore.
To support this, in the course of an interview with Cointelegraph, was Fernando Gutiérrez, CMO of the same entity. Instead, he argued that the token is designed to serve as fuel for faster, safer and more convenient electronic payments.
A statement which seems a precise response to the clouds that are gathering on virtual currencies that aim more resolutely at privacy. Witnessed by the actual declaration of war of theIRS (Internal Revenue Service) US v Monero.

The air becomes heavy for the privacy coins

Despite the partial denial by some recent studies, according to which Dash, Monero and Zcash would be protagonists in a negligible number of transactions on the illegal markets of the Dark Web, for privacy, the air is getting heavier.
The continual emphasis placed on the confidentiality profiles ensured by them, in fact, has prompted the authorities to implement increasingly decisive counter actions. As the real shows bounty issued by the IRS against Monero, promising 625mila U.S. dollars to those who managed to make the coin traceable within the operations that see it as protagonist. To win the figure were Chainalysis e Integrates FEC.

Could the next step be a ban on exchanges?

If the IRS took action against Monero, also the exchange they seem less and less willing to tolerate privacy coins. With more than one platform that has already delisted XMR. A move that is explained by the need to comply with regulations KYC (Know Your Customer) e AML (Anti Money Laundering) to stay within the international legislative fence.
Dash, too, may soon be ostracized by exchanges. Especially if we continue to talk about the token as an ideal tool for the criminal economy. In this context, the statements of the Dash Core Group are explained, clearly aimed at removing the clouds that are looming on the horizon.

The problem is PrivateSend

Not an easy task, however, in the light of PrivateSend, i.e. the technology-centric function the coinjo. Which aims to lay a kind of protection around the confidentiality profiles of a transaction. With the declared purpose of making it more difficult for the analysis companies to understand who are interested in a given operation.
His presence actually seems capable of giving the authorities the cue for a crusade against Dash. Explaining the moves of the token working group, which however may prove insufficient.

Buying Cryptocurrencies? Exchange Binance Binance

Dario Marchetti

I have a degree in Literature and Philosophy from the Sapienza University of Rome, with a thesis on the eastern border of Italy at the end of the First World War. I have collaborated with several sites on many issues and led the work group that published the official CD-Rom of the SS Lazio "History of a love" and "Photographic History of Magical Rome".

Leave a comment

Your email address will not be published. Required fields are marked *

Back to top button