The risks according to the European Supervisory Authorities

[Jamlam 4]

The relatively anonymous nature of digital currencies has made them very attractive to criminals, who could use them for money laundering and other illegal activities. According to the reconstructions of the sector authorities, cryptocurrencies can involve significant risks also with regard to scams. They therefore pose numerous questions in terms of consumer / investor protection. The risks for the management of monetary policy seem, however, completely improbable, considering their current diffusion. As for the risks to financial stability, only a much wider use of cryptocurrencies could determine their onset.

[babaji 1228]

These are just rubbish arguements against crypto. If criminals can use crypto, were they not using fiat currency as well to do their activities. Why are there so many tax haven countries, and what about payments in gold and diamonds, Will they ban gold and diamonds too. In fact with crypto it is easy to trace big payments, and it is easier to keep an eye out on that wallet because everything is transparent and nothing is hidden, where it will be cashed and from there you can find the money trail. 

[Uttom Deb 333]

According to the European Supervision Authority, the risks vary.  The currency may collapse, various sites may be blocked.  And that can be a lot of problems.

[Fattkidd 1852]

This problem is part of cryptocurrency we know that we cannot avoid this problems as long as there is money involve people will be there to create. Crimes just to earn easy money they would create ponzi scheme and many more just to scams other people.

[Sourovdeb890 416]

One of the important things about cryptocurrency is securities because digital currency and cryptocurrency are completely online transactions and security issues are a big deal for these online transactions and there is another reason where currency prices fluctuate too much.

[Syedbesharat 5423]

They now concern with public safety what about the banking scams where they knew about suspects and nothing happened to them they easily fly to another country with full begs of cash.They have to make some frame work for large transactions where people have to verified their  identity .This kept in record for monitoring.

[Adrian Adkins 11]

As cited by way of the European Supervisory Authority, risks range. Cash can drop, extraordinary places may be blocked. Moreover, this can be a ton of troubles. Money can disintegrate, a neighborhood area can be blocked.

[bitcoin-shark 1928]

there are arguments used by various governments that try to somehow limit the huge spread of cryptocurrencies worldwide in proportion the crypto money laundery will be 1% compared to 99% of fiat...

[NKDB 10]

The use of crypto-currencies is very safe, since the cryptography and blockchain network is transparent, the State must implement this technology to avoid money laundering.

[Kantaro17 29]

I don't see any relationship in which we use cryptocurrencies and scammers and thieves too. Is it because a terrorist group or thieves use cryptocurrencies means that we who use it are we? If so, they put in prison all those who have Dollars euros Bolivars sucres etc.

[Roomi 1119]

On 2/20/2020 at 12:44 PM, Jamlam said:

The relatively anonymous nature of digital currencies has made them very attractive to criminals, who could use them for money laundering and other illegal activities. According to the reconstructions of the sector authorities, cryptocurrencies can involve significant risks also with regard to scams. They therefore pose numerous questions in terms of consumer / investor protection. The risks for the management of monetary policy seem, however, completely improbable, considering their current diffusion. As for the risks to financial stability, only a much wider use of cryptocurrencies could determine their onset.

Yes we all know that it is a major flaw and security risk in using crypto currencies. That is a big reason crypto is not being adopted by many of countries.

[Sasaki 171]

Well there's always risk when it come in the world of technology especially with the power of Internet the criminals become also high tech when it comes in doing crime, in the world of crypto hackers and scammers can't be gone because it's system is decentralized that has no central authority and everyone ca use it and because of that they abusing it.

[Whited35 15285]

The reason why most of countries are still banning crypto. Illegal activities could be increasing in rate. My country is also taking some steps to make the crypto technology more securely acceptable. There are so many illegal activities which should be down. 

[Rstunirk 151]

The probable rejoin may perhaps be that for my opinion
According to the European Supervision Authority, the risks vary.  The currency may collapse, a reach of sites may be blocked.  And that can be a manner of speaking of problems.thats precise central moreover that's it

[bentayebsalah 2280]

The governments themselves are corrupt and support their personal interests only, which is why all you talk about are nonsense in order to find an argument about preventing cryptocurrencies

[Thekingcallme 1975]

I am not convinced by what governments say about cryptocurrencies because such illegal acts were from ancient times and before there were cryptocurrencies originally

[BTC Future 3946]

On 2/20/2020 at 10:09 AM, babaji said:

These are just rubbish arguements against crypto. If criminals can use crypto, were they not using fiat currency as well to do their activities. Why are there so many tax haven countries, and what about payments in gold and diamonds, Will they ban gold and diamonds too. In fact with crypto it is easy to trace big payments, and it is easier to keep an eye out on that wallet because everything is transparent and nothing is hidden, where it will be cashed and from there you can find the money trail. 

I'm happy that your response is first in this post so new people can actually understand what is going on. I'd also add that many organizations participating in illegal activities a lot of times are using stolen artworks such as paintings and archeological treasures as an escrow for their dealings. Cryptocurrencies are way less than 0,1% of how all these criminals are transacting and transfering wealth. What they should carefully look into is the EU banks. They know it and they just found that crypto is a great scapegoat to divert the attention. The people of Europe are not sheep though as they think.

Edited March 1, 2020 by BTC Future

[tienda 8776]

I think cryptocurrency it is still a new project still not explored at 100 percents, for this reason right now there are many countries and companies dont adopt it and afraid to do the mistake if they decide to adopt it.

[Opinder 1310]

On 2/20/2020 at 1:14 PM, Jamlam said:

The relatively anonymous nature of digital currencies has made them very attractive to criminals, who could use them for money laundering and other illegal activities. According to the reconstructions of the sector authorities, cryptocurrencies can involve significant risks also with regard to scams. They therefore pose numerous questions in terms of consumer / investor protection. The risks for the management of monetary policy seem, however, completely improbable, considering their current diffusion. As for the risks to financial stability, only a much wider use of cryptocurrencies could determine their onset.

No doubt money laundering and scams are main disadvantages of crypto but I think no any country could avoid crypto now although it has disadvantages. So may be all countries would find the solution to solve this problem. So it is just view of European Authorities but they are not against crypto.

[Santo123 4]

I have been working in few year in many site but i lost my money in few site now i found a very trusted site crypto currency site now i earned a batter payment in this site

[jekich.chan 1439]

Yes, this is a big minus for cryptocurrency. Now on the darknet they are buying weapons, drugs and other prohibited things for bitcoins. Terrorists also make transfers to their accomplices so that they carry out terrorist attacks around the world. It is very disappointing to understand that such a bad technology is used by such technology that should improve the world.

[teminalibug 309]

I assure that European Supervisory Authorities, that the number of crypto will increase and lets be honest were in those criminal activities completely impossible on fiat money??!!

[Rezort 846]

The risks have always been very high when it comes to cryptocurrency but it is kind of good factor that some not very clever people would just avoid this sphere.

[Captain Karim 0]

One of the quotes I liked, if cryptocurrencies are used to launder money, then what were criminals used to launder their money before cryptocurrencies exist? We cannot say that cryptocurrencies are bad because some people use them badly, but ways must be found to punish criminals everywhere.

[pablomarwan 3082]

I agree with you from this side criminals or fraudulent persons. It has become difficult to track them or track their treatment. As long as they deal in digital currencies, it becomes easy for them to launder their money through these commercial methods. This is one of the reasons why the authorities and governments do not accept digital currency dealings as normal