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This would have the singular affect of forcing the entire cryptocurrency ecosystem into the black market, where it would thrive alive and well. Likely doing more harm than good in the process by fueling violent cartels to wreak havoc, as is still happening with the war on some drugs

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That makes no sense, cryptocurrencies are already being used for illegal purposes.

It does make sense. There's a difference between say 50% of all crypto transactions being black market ones and 100% of them being so, and I don't think the 100 would be the same size as the 50 is now, in other words some of the legal trade would for sure move into the black market.

I don't get the point

Cryptocurrency ecosystem is already out of the regulations and mostly a black market

Not really, Coinbase is pretty big and perfectly legal.

What about cash though? Isn't that stuff used for black market?

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