Replying to Avatar The Daniel 🖖

KYC is probably the number one cause of fraud that has ever existed. I don’t have the data to prove this, but it just makes sense.
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CraigTheSpaceBum 1y ago

If someone held your family at gun point and demanded x amount of bitcoin, you hand it out. Wouldn't you like to know the names of those people when they go to cash out 😅.

KYC is not helping the little guys. It's asset protection for the big guy.

I still don't like kyc tho😆

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BigFish 1y ago

It's about surveillance. When it comes to capital controls/sanctions and some form of financial repression (e.g. yield curve control for govt. Bonds) they need to know where the money is, who owns it.