Cryptocurrencies aren't anonymous anymore

[Xester]

I’m good with it, regulation is necessary to strengthen bitcoin and giving the government a hand on controlling the illegal activities that’s is hiding beyond this anonymity. And I do agree they South Korea is making a big move for the security of investors money. It will also be a good indications from other business owners who value legality’s before adaptation.

Yes and considering that bitcoin price is a guaranteed investment and many are into it, it is okay for me that the government will regulate it.  It is for our own protection and that is what I have heard from the news.  It is just protecting our money and it just showing concern.

[miyaka26]

What a clickbait title ! Anonymity is not leaving Bitcoin ! You can still buy your bitcoins with cash and get covered without any problem ! Only sale is monitored on South Korean exchanges, which represent, let me remind you, a very minor part of the world volume.

And some exchanges that implemented the KYC compliance policy, title is a self-explanatory that cryptocurrency is no anonymous yet the Op stated some facts from a country who pulled off some exchanges to support the thread, it is not the coins itself who are not anonymous, you can still perform transactions not just in bitcoin but on any other coins as long as it is not requiring some information anonymously, some multi-platform web wallets and local exchanges already implemented this compliance in order to eliminate abuses.

[vv181]

All the government regulation could indirectly make cryptocurrencies aren't anonymous because it's forced the KYC verification for anything related to cryptocurrencies. But that doesn't mean the anonymity in the cryptocurrencies will end. that only the matter of choice neither it the people want to still anonymous or they didn't give a sh* for their own privacy.

[Jake.bluees]

The collective of cryptocurrencies were never anonymous at all, in fact there is a governmental control for its indirect use, but existing. What happens is that now, because they have created much more control, it has been revealed that we are not completely anonymous investors, I think that this is to control that there is no misappropriation of funds and at the same time to request government interest payments.

[Garret44eza]

Since now i think that BTC was 100% anon

[bitbunnny]

This is something that I'm saying for a long time now. Bitcoin has lost a great deal of anonimity comparing to early days. Different laws and regulations as well as many investigation techiques, available especialy to law enforcement, made Bitcoin and other cryptocurrencies more transparent and more traceable.
But I still beleive as long as you don't misuse them for illegal activities your privacy will be great deal protected but still don't expect to be anonimous.

[Baofeng]

This is something that I'm saying for a long time now. Bitcoin has lost a great deal of anonimity comparing to early days. Different laws and regulations as well as many investigation techiques, available especialy to law enforcement, made Bitcoin and other cryptocurrencies more transparent and more traceable.
But I still beleive as long as you don't misuse them for illegal activities your privacy will be great deal protected but still don't expect to be anonimous.

Correct, will all the government crackdown on bitcoin, its already lost a great deal of its supposedly psuedo anonymous features. Remember that in the beginning, bitcoin has no names attached, but now every exchanges should have KYC/AML and they can easily trace you back or investigate on what is the source of all your bitcoins.

[kryptqnick]

What a clickbait title ! Anonymity is not leaving Bitcoin ! You can still buy your bitcoins with cash and get covered without any problem ! Only sale is monitored on South Korean exchanges, which represent, let me remind you, a very minor part of the world volume.

First, sale is monitored NOT only on the Korean exchanges. I am using bittrex and I haven't withdrawn any money from my account so far, but I did get notifications that to do that I would be asked to provide full information on my real name, origin and date of birth. Secondly, South Korean exchanges are actually quite a big part of all the trading volume there is. It is hard to count it, but I would say that they have about 10% of the top coins' trading volume. That is not too big, but big enough to draw attention and lead others to panic selling for quite some time.

[legenduim]

It is no surprise that anonymity has been leaving bitcoin. Bitcoin is not as anonymous as it used to be.

Monero the more anonymous bitcoin has been getting a lot of news as it is being used for many illegal purposes such as drugs and money laundering.

South Korea today, however, is increasing regulation on all cryptocurrency exchanges as reported by https://revoltmedia.org/south-korean-new-rules-on-cryptocurrency/.

South Korean laws passed this morning are now only letting South Korean exchanges accept users if the user has real-name bank accounts connected.

Regulations like this are the first of many soon to come that will try to take anonymity from cryptocurrency.

The South Korean government reasoning was to prevent money laundering and other illegal activities.

As I remember Russia also is going to do the same thing and let everybody who is dealing with cryptocurrency prodive his personal data. These changes can affect the market of crypto negatively. Do you agree?

[Pintasak]

It is no surprise that anonymity has been leaving bitcoin. Bitcoin is not as anonymous as it used to be.

Monero the more anonymous bitcoin has been getting a lot of news as it is being used for many illegal purposes such as drugs and money laundering.

South Korea today, however, is increasing regulation on all cryptocurrency exchanges as reported by https://revoltmedia.org/south-korean-new-rules-on-cryptocurrency/.

South Korean laws passed this morning are now only letting South Korean exchanges accept users if the user has real-name bank accounts connected.

Regulations like this are the first of many soon to come that will try to take anonymity from cryptocurrency.

The South Korean government reasoning was to prevent.   money laundering and other illegal activities.  Yes it is not anonymous anymore because  its getting popular around the globe.Many investors and traders are getting more millionare because of its benefits.Many unemployed got jobs because of crytocurrencies.and we do hope so oťher countries will get familiar to it to use in there industry and economy.                               

[faatipoke]

bitcoin was never anonymous, it can be traced easily. If you are using exchanges or spot markets to buy bitcoin, you are already known or can be known by authorities. bitcoin never claimed it is anonymous.
However there anonymous good coins in the market and monero is probable the best of them. If you need anonymous cryptocurreny, you need monero. Actually I do not need to be anonymous, all my earnings are legal so why need to be anonymous?

[iMark]

All the government regulation could indirectly make cryptocurrencies aren't anonymous because it's forced the KYC verification for anything related to cryptocurrencies. But that doesn't mean the anonymity in the cryptocurrencies will end. that only the matter of choice neither it the people want to still anonymous or they didn't give a sh* for their own privacy.

I have never seen or heard of a government requiring verification of data or kyc on bitcoin users in their country, maybe just some exchange sites and some online wallet only, but not all exchanges or wallets require verification of data in order to make transactions, so for now cryptocurrency can still be used for undercover and anonymous transactions, moreover there are some masternode altcoin, of course you can use that coin for the transaction and you will get anonymous identity

[Johnzky]

Transactions between normal wallets stay as anonymouse as they always have been.
What Sout Korea did was a regulative measure to prevent money laundering and to encourage the citizens willingness to pay taxes on the profit they make with crypto currencies.
Honestly I support such moves.
They help to create a positive image of crypto currencies in the public opinion.

i support you on that mate,cryptocurrencies playing lotsof money daily without taxes beinh input and users gaining without losing any amount from the government,this korean government moves is the best action to stop laundering and make some obligation for their people to give part of the income for the countries progress.and i salute them for this regulation

[ASHLIUSZ]

Yes it is not really anonymous in its development. It is completely pseudo anonymous as most users have mentioned in their post. Cryptocurrencies with anonymity as the major factor has been developed in several projects. Now, even the to keep track of the transaction which is completely anonymous is possible with a tool that has been developed after a long study of more than two years by bitfury.

[Kronos21]

Transactions between normal wallets stay as anonymouse as they always have been.
What Sout Korea did was a regulative measure to prevent money laundering and to encourage the citizens willingness to pay taxes on the profit they make with crypto currencies.
Honestly I support such moves.
They help to create a positive image of crypto currencies in the public opinion.

i support you on that mate,cryptocurrencies playing lotsof money daily without taxes beinh input and users gaining without losing any amount from the government,this korean government moves is the best action to stop laundering and make some obligation for their people to give part of the income for the countries progress.and i salute them for this regulation

All exchanges which allow you to withdraw Fiat require the provision of documents. Payment of taxes will not save users from trying to ban the use of cryptocurrencies. Anonymity of cryptocurrencies is an exaggeration. Any expert can identify the user if he is not trained to cover his tracks. Cryptocurrency is a direct competitor to banks worldwide. It is more concerned about the government than paying taxes.

[0t3p0t]

It is no surprise that anonymity has been leaving bitcoin. Bitcoin is not as anonymous as it used to be.

Monero the more anonymous bitcoin has been getting a lot of news as it is being used for many illegal purposes such as drugs and money laundering.

South Korea today, however, is increasing regulation on all cryptocurrency exchanges as reported by https://revoltmedia.org/south-korean-new-rules-on-cryptocurrency/.

South Korean laws passed this morning are now only letting South Korean exchanges accept users if the user has real-name bank accounts connected.

Regulations like this are the first of many soon to come that will try to take anonymity from cryptocurrency.

The South Korean government reasoning was to prevent money laundering and other illegal activities.

Yeah governments want to control everything we have. Everyone is exposed due to KYC in local exchanges and that is what they want from us because they are tracking every transactions we did and that is something like a security breach against our privacy. But if their purpose is for the good of the country it would be great but if they are just trying to create chaos against crypto community then we are losers. Regulating cryptocurrency is good but why not regulate fiat currency as it is the root of all evil ever since it was invented? Maybe because they might see that cryptocurrency can be a threat to the currency they are in. It could be that money laundering and illegal activities are just cover-ups in some corrupt countries and I don't believe it because fiat is widely used in those activities even before cryptocurrency exist.

[mOgliE]

Hi,

You know you are over-reacting, right?

New legislaton in South Korea may change things for South Koren users. Though, they can still use bitcoin, they just need to add a VPN to their daily routine.
Then, your post.. Actually you are pretending that bitcoin is no longer anonymous but there is nothing to support such statement.

I understand that you can be fed up if you are leaving in South Korea, but admit it, legislation is still lagging far behind what technology allows. And if you are not directly concerned, then why do you panic? Seriously, there is nothing worrying, people get more and more involved and that's exactly why governments are bothered.

So actually, that's a great news about the potential power of bitcoin!

[andeluna]

Hi,

You know you are over-reacting, right?

New legislaton in South Korea may change things for South Koren users. Though, they can still use bitcoin, they just need to add a VPN to their daily routine.
Then, your post.. Actually you are pretending that bitcoin is no longer anonymous but there is nothing to support such statement.

I understand that you can be fed up if you are leaving in South Korea, but admit it, legislation is still lagging far behind what technology allows. And if you are not directly concerned, then why do you panic? Seriously, there is nothing worrying, people get more and more involved and that's exactly why governments are bothered.

So actually, that's a great news about the potential power of bitcoin!

Bitcoin has been really powerful these days. Many people are getting engaged to it because of its power and capabilities. Nowadays, almost all of the people had already heard about cryptocurrencies and bitcoin. It is because of the people who became rich using cryptocurrencies that made crypto well-known.

[munareal]

Crypto currencies are not anonymous any more is a blessing in disguise. All those with bad intention can easily be gotten when they commit a crime. Their KYC is known and they can be traced with in no time and less stress.

[Tigerheart3026]

having the coin is not anonymous anymore as some ICO have KYC, but once the coins have gone to some exchange that dont need verification of identity the circulation will end to unknown.  you can send to ay address, and that will keep the identity of the recieveer. but why do we need to do KYC? isn't Mr. Nakamoto created cryptocurrency to make transaction anonymous and make the people to control this?