Don't forget Monero alone is insufficient, they must also avoid KYC.
#KYCNotMe
Discussion
This doesn't really matter, if you think about it.
If they KYC you on the inbound or outbound it's no problem.
Send/receive is KYC free by intrinsic nature, so even the amount or address or whatever is obfuscated each time you do it.
So, KYC all you want on the front end, because monero is cash in hand in the backend
If I buy XMR on kraken and some time later send to my own wallet who can prove that the wallet I sent it to belongs to me or when I spend it that it was in that wallet at one time? Timing attacks at most, right? Or is there more?
KYC is the illicit activity. It exists distinct from the distributed ledger.
All KYC purchases and sales are recorded forever and shared with the government.
If you have performed a KYC purchase without a KYC sale, you will be assumed to hold that asset.
All of the burden to prove otherwise will be put on you, if they so will it.
Best to not have the KYC purchase record in the first place. That is improved privacy from the get go.
If I buy XMR on kraken and some time later send to my own wallet who can prove that the wallet I sent it to belongs to me or when I spend it that it was in that wallet at one time? Timing attacks at most, right? Or is there more?
you got it 👍
after that the flow is protected.
Maybe about a week ago, the Bank of Italy said that KYC not me was a bad service LOL.
That is a strong endorsement
I thought the same thing when I saw it.
Here's a link where I quoted the article, but unfortunately I didn't put the article link into the post. So you'd probably have to copy and paste the quote into a search engine.
https://primal.net/e/note1jygz9476adu8w0j40jslp99hnyu58504g4c8vrym7kwv6952643s25edxa
This isn't the original article that I got the quote from, but here is a similar one.
https://coinpedia.org/news/bank-of-italy-exposes-bitcoin-p2p-platforms-as-tools-for-crime/