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Identifying perpetrators during fraud investigations is challenging in anonymous systems, as victims cannot track who received their stolen funds.
Without anonymity, Innocent citizens are left exposed to potential data breaches and systemic surveillance.
Strict bans could Encourage underground markets instead of regulated systems that is my take on this
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Should countries ban anonymous cryptocurrency transactions in order to reduce money laundering, fraud, and illegal activity? While supporters of regulation argue that governments must protect national security and financial systems critics believe banning anonymity would remove one of cryptocurrency’s key principles which is financial privacy. The debate raises important political questions about how far governments should go in controlling digital finance