Samourai Wallet banned

in LeoFinance12 days ago

Hello!

Toaday I saw the news that the 2 founders of Samourai Wallet, a famous Bitcoin wallet, have been arrested.
This are bad news for crypto, specially for privacy in Bitcoin. Samourai wallet has been known for helping move Bitcoin and make it untraceable.
I'm not an expert but they use different methods to make Bitcoin transactions private such as Coinjoins. CoinJoin is a protocol that allows you to "mix" bitcoins, increase their privacy and prevent them from being traceable.

When you go to their website: https://samouraiwallet.com you see the Department of Justice logo saying that:

THIS WEBSITE HAS BEEN SEIZED

I hate this news. The state is trying to fight privacy at all costs. I was planning to use Samourai Wallet in the future to make my Bitcoin private. I hope that there are some alternatives out there.

Hopefully we would be able to use decentralized mixing tools. I would love that the industry can survive this attacks, it's crucial if we want to make everything work.

Other bad news for Europe

The EU bans anonymous self-custody crypto wallets and cash payments over €10,000.

HOLY SHIT!

These 2 news hit really hard.

Let's see how everything evolves. They are at the FIGHTING STAGE!

Have a great day.

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The EU bans anonymous self-custody crypto wallets and cash payments over €10,000.

When I read about this a while ago, the "EU bans anonymous self-custody crypto wallets" part could be translated by CEXes forced to stop accepting transactions from non-KYC wallets to EU clients. Which is horrible, even thinking about it.

Yes, it's horrible.
We'll see how everything plays out!