Cryptocurrencies are considered to be anonymous digital currencies. It is believed that many illegal activities, including money laundering, are financed by them. Therefore, governments try to enforce laws to regulate, or in some cases totally abandon, the use of cryptocurrencies. This study analyses the importance of regulating the cryptocurrency transactions. It is seen that cryptocurrencies are not so anonymous due to technological advancements and persons who engage in cryptocurrency transactions can be identified. Therefore, regulating cryptocurrency transactions are not as important as it was once thought.
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