Bullshit. Every other bank and (non-crypto) exchange in existence requires some form of KYC, and they will want to know the source of larger funds.
And isn't this an admission that Monero is of no real legal use? Otherwise, why would you care about cashing it out at an exchange? You could spend it on goods and services instead.
This is not a bank or cryptoexchange. It's an electronic currency. Your equating of banks/cryptoexchange, which are subject to FinCen regulations on currency conversion, with electronic currency is intellectually dishonest. It's a barely concealed rhetorical sleight of hand. You know very well that the corollary here would be banning cash deposits. A private electronic currency is the electronic equivalent of cash.
>And isn't this an admission that Monero is of no real legal use?
What kind of absurd conclusion is that? There are infinite number of possible non-criminal reasons why one would want to convert one currency to another. In fact, the currency having the property of not leaking private information has no bearing on that.
>Otherwise, why would you care about cashing it out at an exchange? You could spend it on goods and services instead.
This is absolute nonsense. Why do we have USD-YEN exchanges?
And isn't this an admission that Monero is of no real legal use? Otherwise, why would you care about cashing it out at an exchange? You could spend it on goods and services instead.