EU Moving to Ban Privacy Coins: Report (old.reddit.com)

I don't think that the elderly EUthocrats really have thought this through

Sad when some coins' privacy benefits just emerge naturally from an elegant design that hugely improves scalability [1].

[1] https://tromp.github.io/circle-research-mimblewimble.pdf

The EU is so far from reality it's astonishing that the HQ is even on land and not in the middle of the Ocean...or the Moon.

You can hardly ban a true, scalable, proof of work cryptocurrency. https://docs.grin.mw/

Cue the crowd of "you can't ban math and numbers!".

Yes I can. I might not be able to effectively stop it for operating, but I sure a shit can put big, fat roadblocks with long jail sentences at every on- and offramp to privacy coins within my jurisdiction, and coerce anyone who wants to do business in my jurisdiction or the currency I control (euro) to do the same.

* A crypto exchange offers privacy coins? DNS block it, force every banking and credit card entity to blacklist it. No swift, Bacs, visa, MasterCard, PayPal, Venmo, alipay, etc.

* Anyone offering services to exchange bitcoin or fiat to privacy coins is labelled a criminal.

This will shut down 99 percent of the volume, making it a lot easier to focus on tracking the remaining 1 percent of illegal money and actually catching criminals.

You can absolutely ban cryptocurrencies.