Replying to Avatar poe😱

"Know your customer"

There's legislation that mandate many businesses require their users to hand over personal info, date of birth, SSN numbers, living addresses, essentially forcing the customer to dox themselves, so the business can operate legally in certain jurisdictions.

Or something like that. I'm sure there is a more eloquent version.
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nobody 2y ago

Hmmm so it’s like buying bitcoin legally compared to not buying legally ? Idk sorry to ask

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poe😱 2y ago

Well... it's more that a lot of the on ramps and exchanges are required to follow those laws depending where they are available.

There's nothing illegal about peer to peer non kyc... it's just that many, due to ease of use, do the kyc option and give companies their personal info. And honestly we've been conditioned to accept this as a normalcy.

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poe😱 2y ago

Disclaimer I'm not a lawyer. So. The legalities of all this stuff is beyond me.

KYC is just an unfair practice in my eyes.

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nobody 2y ago

Hmm thank you I needed those details