Finance News
By Dan Saada
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Monero (XMR) Transactions Community Response
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There was a recent notice about Rule Making by the treasury department, which according to cryptocurrency advocates are harmful regulations.
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Monero Outreach tweeted: “US Treasury is trying to sneak harmful regulations over the holidays while no one is watching. Pay attention. Do something.”
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The example advocacy letter is to the US Treasury about harmful FinCEN cryptocurrency regulations (Docket Number FINCEN-2020-0020, RIN 1506-AB47).
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Monero community are particularly not happy because the notice singles out Monero as a private cryptocurrency and cites special concern.
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Monero Outreach have published an “Example Advocacy Letter to the US Treasury.” This sample time is facilitated for those who are looking to respond because the time for…
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Those who are looking to reply to the notice can use the sample letter verbatim. Users are also asked to add their unique perspective, references, and alternative proposals.
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The notice has required banks and money service businesses to submit new reports. They are asked to gather new information about users who are sending cryptocurrencies to…
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Commenting, Sydney Ifergan, the crypto expert tweeted: “The purpose of the Monero Outreach Letter is to stop and discard the recent rule making targeting self-hosted wallets.
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With governments beginning to turn towards cryptocurrency, we can expect to see lot of bombs. They will have lot more not so nice things to say for the cryptocurrency space.
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Justin Ehrenhofer tweeted: “Monero is on track to have its highest number of monthly transactions yet, likely somewhere between 550,000 and 650,000.
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However, users who responded to this update stated that they are interested in all-time highs and not about the numbers of transactions.
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Some of the users opine that Monero needs to launch an exchange just for Monero which in turn will pair with everything else, thus becoming stronger against centralized exchanges.
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