The Estonian government do not plan to ban anonymous cryptocurrency holdings.

[Lens1000]

The Estonian government has stressed that upcoming laws do not represent a complete ban on anonymous cryptocurrency possession.


Estonia enacted draft legislation on December 23 that would regulate certain crypto and virtual asset activities. It would have, for example, made anonymous virtual currency accounts illegal, based on a provision that went into force in summer 2020.

The Estonian government has now clarified that this applies exclusively to businesses and has no bearing on people who keep cryptocurrencies in personal digital wallets.

"The regulation applies to [virtual asset service providers] that execute services for or on behalf of a natural or legal person as a permanent business," the government noted in a press update on Sunday, Jan. 2.

 

[sincerem]

Estonian government saw reasons not ban the privacy coins. Their decision shouldn't be questioned, they believe in the future of those coins, whether centralized, decentralized coins, or privacy coins, they simply wants to see them grow. Their are lots of privacy coins in the market today, which other investors love, they simply see potential in them, that's why they're picking them out for investment short or long term investment. Privacy coins like, Monero, Zcash, Dash, etc. They are so many, you can simply go to coinmarketcap.com, and search for further privacy coins. They are anonymous than others, and most scammers are using this coins often for transacting illegally. That's why some countries tries to ban it, due to how they operate anonymously. And they simply don't want the coins to be used further for driving illegal activities in the blockchain ecosystem, that's why the initial notion of banning the privacy coins surfaced. I know some countries have taken bold move to issue ban on the privacy coins, and some are yet to do so, they are simply watching over their future and monitoring their progress in the blockchain industry. Privacy coins can't be regulated, that's why it is more open for fraudulent operations than any other coins.

 

[Lens1000]

Estonian government saw reasons not ban the privacy coins. Their decision shouldn't be questioned, they believe in the future of those coins, whether centralized, decentralized coins, or privacy coins, they simply wants to see them grow. Their are lots of privacy coins in the market today, which other investors love, they simply see potential in them, that's why they're picking them out for investment short or long term investment. Privacy coins like, Monero, Zcash, Dash, etc. They are so many, you can simply go to coinmarketcap.com, and search for further privacy coins. They are anonymous than others, and most scammers are using this coins often for transacting illegally. That's why some countries tries to ban it, due to how they operate anonymously. And they simply don't want the coins to be used further for driving illegal activities in the blockchain ecosystem, that's why the initial notion of banning the privacy coins surfaced. I know some countries have taken bold move to issue ban on the privacy coins, and some are yet to do so, they are simply watching over their future and monitoring their progress in the blockchain industry. Privacy coins can't be regulated, that's why it is more open for fraudulent operations than any other coins.

The Estonian government has made it clear that the law isn't for the small investors or people who's hold cryptocurrencies in an anonymous wallets are not affected by the law. This is a government who know the onions of cryptocurrency and also looked at the interest of its citizens. It is clear that the law targets the cryptocurrency exchange and companies or conglomerates executing crypto related activities. This better than a stiff sanctions on cryptocurrency market like what we have seen in some countries, where crypto investors are frustrated to leave the country to settle for business in another country that provides enabling environment. Apparently, the privacy coin keeps ones transaction anonymous and it's highly secured. There are some transactions that are confidential. I heard that countries uses the privacy coin the most for confidential transactions. We cannot pretend that these coins are used as a medium to perpetrate illicit act. We also need to look at the advantages because asa nation, all transactions shouldn't be done openly. Also individuals too deserves to make their transactions private. They knew that it's only the cryptocurrency conglomerate that is capable of moving huge funds to an anonymous wallet and there are honest individuals who needs privacy too.

 

[sincerem]

The Estonian government has made it clear that the law isn't for the small investors or people who's hold cryptocurrencies in an anonymous wallets are not affected by the law. This is a government who know the onions of cryptocurrency and also looked at the interest of its citizens. It is clear that the law targets the cryptocurrency exchange and companies or conglomerates executing crypto related activities. This better than a stiff sanctions on cryptocurrency market like what we have seen in some countries, where crypto investors are frustrated to leave the country to settle for business in another country that provides enabling environment. Apparently, the privacy coin keeps ones transaction anonymous and it's highly secured. There are some transactions that are confidential. I heard that countries uses the privacy coin the most for confidential transactions. We cannot pretend that these coins are used as a medium to perpetrate illicit act. We also need to look at the advantages because asa nation, all transactions shouldn't be done openly. Also individuals too deserves to make their transactions private. They knew that it's only the cryptocurrency conglomerate that is capable of moving huge funds to an anonymous wallet and there are honest individuals who needs privacy too.

Yeah, the crypto conglomerates are responsible for dealing on huge amount of cryptos, I am not surprised to hear that. And most of them simply love to stay anonymous due to the present nature of strict laws when moving larger amounts out of your bank account every where in the world. And the privacy coins helps them to achieve that and stay completely anonymous from government queries, and the rest that isn't okay to anyone dealing on finance.