Durov dey warn: EU chat control and IDs dey threat Internet freedom
Telegram oga man Pavel Durov yan warn fo say new rules dem dey threat for internet freedom an crypto privacy for X. EU wan impose Chat Control wey go force messaging apps dem make dem scan messages before dem encrypt am. Germany MEP dem block di bill small inside European Parliament but now di mata move enter European Council. For UK, PM Keir Starmer digital ID plan go make people store dem personal data for government app, e cause more than 2.8 million people sign petition wey demand parliamentary talk. From December 10, Australia go start digital age check, e no go allow anybody under 16 use social media if dem no get document or biometric check. Durov talk say these kain steps dey weaken encryption, online speech an internet freedom, e get direct effect on privacy coins and market feeling generally. Traders suppose watch these kind regulation tests well because e fit set new rule for worldwide encryption policy an fit influence how people go demand privacy coins.
Bearish
Dis news bad for di wider crypto market because di increase wey dem dey do on top encryption and privacy tool regulation dey cause more wahala and risk for compliance. For short term, traders fit begin sell because dem dey fear say dem go make scanning and identity check mandatory. For long term, dis kain measures fit reduce how many people go like use am, e go make cost to run development high and e fit make market lose confidence. Even though demand for privacy coins fit increase, di overall market fit face down pressure as dem dey set regulatory precedent.