Cardano decides to gave up on the anonymity and decides to comply with the national and the international regulations for the blockchain. It's decision of compliance with the Financial Action Task Force guidelines goes to show that the AML and KYC are future of the chain. Recently they integrated the AML using Coinfirm's integration.
Both Coinfirm and Cardano Foundation tweeted this update in their profile.
What can you expect from ADA now?
ADA has the AML now so the analytics firm is going to keep track of the various wallets that were created in past and in near future. This would help them track the movement of the coins in the chain. This move is purely from the standpoint of the regulated market adoption. So you can rest assured that your future purchases of the ADA are being tracked and you are clearly interacting with the regulated and legally complied blockchain.
What does this mean for Crypto Community?
Unless the blockchain is made by bunch of anonymous developers around the world. You can expect the crypto to get regulated and many cryptos are going to die if they don't have the use cases. Considering Cardano is one of the top blockchains aimed at certain set of the use cases. They are likely to get their legal grounds clear by complying with SEC, FATF and other international regulations.
Cryptocurrency adoption has started and now the regulations are covering the rest of the track. Now anonymity and the decentralization on which this revolution started is thing of the past now, which is unfortunate. But this was coming and many speculated this side of the cryptocurrency industry.
