On-chain KYC will reach traceable blockchains much sooner than I myself believed.

Look at the path that governments are beginning to take.

Signs of #Technocracy

A leaked proposal from Senate Democrats suggests giving the Treasury broad power to regulate non-custodial services.

This would include the ability to ban some DeFi software and mandate KYC procedures.

This could impose an obligation on developers to monitor and audit their own code.

Industry experts have slammed the proposal, calling it an unconstitutional overreach that could hinder innovation in the cryptocurrency industry.