There are already several unauthorized exchanges, despite the popularity of the authorized ones. Banning the authorized ones would be a big boon for the illegal ones.
I'm curious... how is cryptocurrency not just a big money laundry machine?
If you can put earnings from cryptocurrency trading into the banking system without explaining where the earnings came from, other than saying you bought bitcoin low and sold high, then how is this not a massive money laundry loophole?
I guess it's not trivial to buy bitcoin with a suitcase full of cash, but it's probably not that hard.
It's certainly hard/impossible to walk into a bank with a suitcase full of cash, without explaining where it came from.
If you can put earnings from cryptocurrency trading into the banking system without explaining where the earnings came from, other than saying you bought bitcoin low and sold high, then how is this not a massive money laundry loophole?
I guess it's not trivial to buy bitcoin with a suitcase full of cash, but it's probably not that hard.
It's certainly hard/impossible to walk into a bank with a suitcase full of cash, without explaining where it came from.