The parent comment gave a prediction of Monero being banned by exchanges. That is the electronic equivalent of banning cash deposits.
>E.g. you can legally sell stuff for a briefcase of cash, but you're required to declare the transaction, including the identity of that person (e.g., in USA, IRS form 8300 for cash amounts exceeding $10000; you can legally sell stuff online for Monero or whatever other consideration, but if it's a significant amount, then you are required to identify the person even if the payment instrument is anonymous.
While unrelated to the topic I was referring to, this is indeed a slippery slope. The minimum amount for reporting to FinCEN started at $10,000 decades ago, and hasn't changed despite inflation reducing the real value of that sum by several fold.
In some countries the minimum amount has even been reduced in nominal terms, despite it already gradually declining in real terms due to inflation. Amidst this gradual criminalisation of ever less substantial anonymous cash transactions, there are a growing number of calls for banning cash altogether. That is a textbook example of a slippery slope.
The parent comment gave a prediction of Monero being banned by exchanges. That is the electronic equivalent of banning cash deposits.
>E.g. you can legally sell stuff for a briefcase of cash, but you're required to declare the transaction, including the identity of that person (e.g., in USA, IRS form 8300 for cash amounts exceeding $10000; you can legally sell stuff online for Monero or whatever other consideration, but if it's a significant amount, then you are required to identify the person even if the payment instrument is anonymous.
While unrelated to the topic I was referring to, this is indeed a slippery slope. The minimum amount for reporting to FinCEN started at $10,000 decades ago, and hasn't changed despite inflation reducing the real value of that sum by several fold.
In some countries the minimum amount has even been reduced in nominal terms, despite it already gradually declining in real terms due to inflation. Amidst this gradual criminalisation of ever less substantial anonymous cash transactions, there are a growing number of calls for banning cash altogether. That is a textbook example of a slippery slope.