The #TravelRule is being implemented on UK #crypto exchanges. It forces exchanges users to provide the identity for inbound and outbound crypto transfers. Soon, on-ramp and off-ramp crypto to #fiat will be 100% #KYC. Implications will be that your non-KYC #Bitcoin may be deanonymized by the receiver if the receiving address is linked to an exchange. #BTC #Privacy #Monero #XMR https://www.forbes.com/sites/martinrivers/2023/08/31/not-your-bitcoin-uk-crypto-firms-will-now-be-forced-to-seize-some-inbound-payments/
Soon most Bitcoiners will understand why optional privacy used by only 1% and properly understood by only 0.1% endangers the privacy of everybody in the network.
You not only rely on yourself following correct procedures but also that your trade partners do. And some of them will do the "right thing" and doxx you. It's a big mess ahead.
#Monero
Can’t agree more with this.
