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CoinJoin announces to block illegal Bitcoin transactions

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CoinJoin announces to block illegal Bitcoin transactions 2

The popular bitcoin mixing platform decided to block all the Bitcoin transactions related to illegal activities or flagged as illegal transactions.

When Bitcoin origin was in the initial phase, the majority of the bad engineers started the bitcoin mixing platform to provide the Bitcoin users to mix their transactions to remain anonymous from the public blockchain Network of Bitcoin, to remain untracked by any Investigation. Now, these types of services are resulting in big problems for the government agencies and also problems for the newcomers because of such bad actors meeting mistakenly. 

CoinJoin is also one of the popular bitcoin mixing platforms, which provides Bitcoin mixing services to Bitcoin users, who want to remain untracked with their Bitcoin transactions. 

On 14 March, through its official Twitter account of Wasabi Wallet, CoinJoin announced the restriction for all such Bitcoin Transactions, which are flagged as illicit transactions or illegal. 

Don’t get confused with the term ZKsnacks. Here this term stands for a protocol virtual machine, which provides Bitcoin mixing services to the users. Now this virtual machine will reject such illegal/illicit transactions. 

In the very starting days of Bitcoin popularity, such platforms were doing better to provide high-level anonymity with the transactions but now it is not possible under critical situations.

A user can use such services to remain away from tracking in normal situations but deep investigations can easily catch such mixing tricks because in the present time many blockchain-related forensic tools are in existence from blockchain analytic platforms like Chainalysis.

On this new initiative of CoinJoin, many people raised their voices against the privacy-focused policy of such platforms.  But Wasabi developer, who goes by the Twitter name of Rafe, explained that such efforts are only to provide a better ecosystem with the existence of core policies of the platform.

Read also: Ethereum network gas fees hit $0.54

CoinJoin announces to block illegal Bitcoin transactions

 

https://bitcoinik.com/coinjoin-announces-to-block-illegal-transactions/feed/

https://bitcoinik.com/coinjoin-announces-to-block-illegal-transactions/feed/

 

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