Fighting the Privacy Battle
Challenges Abound!
In some recent news announced on Coindesk a regional safe haven for cryptocurrencies in the Middle East has taken a stance against privacy coins. In Dubai, it was announced by Emirati digital regulators, that the
‘issuance of, and all activities related to, anonymity-enhancing cryptocurrencies such as Monero (XMR) are prohibited under new laws published Tuesday (2/6)’
This is a part of the United Arab Emirates’ long-awaited crypto regulations, which are to help establish rules and guidelines for companies building in the Emirates. It’s quite unfortunate that they have taken such a stance making privacy cryptocurrencies illegal to use. According to the regulations, anonymity-enhancing crypto is defined as
“A type of virtual asset which prevents the tracing of transactions or records of ownership through distributed public ledgers and for which the [Virtual Asset Service Provider] has no mitigating technologies or mechanisms to allow traceability or identification of ownership.”
A Call to Arms
News items like this make the privacy scene even more important to support individuals’ rights to transact and even exist privately outside the watching eyes of the government or anybody. As a crypto community that cherishes fair, equitable, and private means of transacting there are key things that we all must do to help avoid similar fates across the world. The EU is inching closer to a ban on privacy cryptocurrencies as well as the United States is looking to increase regulatory pressures through a policy built on ‘regulation by enforcement’. The times look grim for privacy-based communities and it truly is the time to fight back. Below are some things that each and every one of us can do to help fight back and advocate for positive change around the blockchain space as well as locally and globally.
Advocate for Privacy:
Many of us use our social media channels to push support for privacy, but efforts need to be done to help further stretch the sphere of influence that we have as well as to increase the awareness and education surrounding privacy coins. Discuss this with friends, family, and people in your community. Help them to understand the benefits of private transactions and how this is no different than using physical fiat to purchase something. The key is to show how this is just normal people wanting to keep their transactions private and remain anonymous. So many people misunderstand how information and transactional information can be used to profile and target people.
Participate in Privacy-centric Communities:
If you’re reading this, you’re at least a part of one community that supports the right to privacy. Look at other groups such as the BPSAA (Blockchain Privacy, Security, & Adoption Alliance) and others that are aiming to help promote the need for privacy and security in the blockchain space. Join other blockchain advocacy groups and instill in them the need to focus on privacy. There are so many ways to make an impact across communities, that can help spread the word outwards.
Use Privacy-Focused Cryptocurrencies:
Discover ways that privacy coins can be incorporated into different aspects of your life. Whether you accept privacy coins for services, integrate payments on websites, and/or do other things that will leverage networks to help them grow, the possibilities are endless and support networks grow. Many community members have worked to accept $CCX as payments for various services or transact or things like lunch. More of these types of activities will bolster the network and help drive development and building as the chain gets more action.
Lobby for Regulation:
As much as this may seem like a losing battle, it is still an aspect and consideration that must be kept in the quiver. Reach out to local, state/provincial, and federal government representatives and make your voice heard. If the only narrative that is portrayed is that ‘criminals and money laundering’ is the sole use of privacy-based cryptocurrencies then regulation banning and/or making it incredibly difficult to use will be inevitable. Lobbying for laws that support freedom of speech and privacy is the utmost important thing that can be done before this door is shut due to incompetence and ignorance.
Reach Out:
If there are additional ways and/or you want to help support and fight the cause reach out to the team in our Discord or across social media!
