$229.12 -2.48%
XMR · 5w

Monero adoption for merchants - question.

Hello! Firstly: this is a great community and I’ve been a long time lurker here. I have a question regarding the usability of Monero in our current financial system. If I set up a shop which accepts xmr as a means of payment, how can I prove to lawmakers that my platform is not used for money laundering while simultaneously honouring the privacy approach? It just seems to me like every major platform allowing monero while also keeping it private (no KYC etc) will get deemed as a front for money laundering. This in turn makes it difficult for merchants to fully adopt xmr, unless they request personal info (might aswell use another coin then). A way around this would be for a shop to go the “protocol” route as opposed to being a business, thus reducing creator responsibility and making impossible for say SEC to shut it down - but this requires a seperate blockchain to be used as monero doesn’t allow smart contracts. Any thoughts on my reasoning? Cheers
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