If your coin isn't kyc'ed then you are a money laundering criminal. Eventually, all coins will be on a whitelist if more and more people start complying. KYC coin is a dystopian future.
Does this make you a product?
So is monero banned? The availability of monero in exchanges in very limited. I guess it depends on your definition of banned.
There are many draconial provisions in the upcoming #EU #AML Regulation both for cash and to p2p #bitcoin transactions (self-hosted wallets and use of mixers).
Some examples:
(33b) The introduction of a Union-wide limit to large cash payment mitigates the risks associated with the use of large cash payments. However, obliged entities that carry out transactions in cash below this amount remain vulnerable to risks of money laundering and terrorist financing as they provide a point of entry into the Unionโs financial system. Therefore, it is necessary to require the application of customer due diligence measures to mitigate the risks of misuse of cash. To ensure that the measures are proportionate with the risks posed by transactions of a value lower than EUR 10 000, such measures should be limited to the identification and verification of the customer and the beneficial owner when carrying out occasional transactions in cash of at least EUR 3 000. This provision does not relieve the obliged entity from conducting all customer due diligence measures whenever there is a suspicion of money laundering or terrorist financing, or from reporting suspicious transactions to the FIU.
(93) The anonymity of crypto-assets exposes them to risks of misuse for criminal purposes. Anonymous crypto-asset โaccounts as well as other anonymising instruments, do not allow the traceability of crypto-asset transfers, whilst also making it difficult to identify linked transactions that may raise suspicion or to apply to adequate level of customer due diligence. In order to ensure effective application of AML/CFT requirements to crypto-assets, it is necessary to prohibit the provision and the custody of anonymous crypto-asset โaccounts or accounts allowing for the anonymisation or the increased obfuscation of transactions by crypto-asset service providers, including through anonymity-enhancing coins. The prohibition does not apply to providers of hardware and software or providers of self-hosted wallets insofar as they do not possess access to or control over those crypto-assets wallets.
As we were said by the EU Commission, โthe ban on crypto-asset payments not intermediated by a crypto-asset service provider has not been retained given the absence of technical means of enforcing such a requirement at presentโ. But that exactly shows the direction of the regulatory approach.
This is a huge deterioration of financial and privacy rights after EU Commission and Council put pressure on the EU Parliament and removed all provisions in favor for individual rights, privacy and financial inclusion.
We need your support guys, before it is too late. Final vote on April 22nd.
Full text you can find here:
https://data.consilium.europa.eu/doc/document/ST-6220-2024-REV-1/en/pdf
This just passed in the US (see link below). They tried to apply it to cryptocurrency, but it looks like they are testing the waters in the EU. The only way defeat this kind of thing is to become a criminal unfortunately. This is essentially a ban on crypto one way or another using a standard divide and conquer approach. The more that comply, the more they conquer until there is nobody left.
The fact that nobody will tell you the truth proves that bitcoin is a cult. I hate quoting CSW here, but it's true in this case.
Coming to a Cryptocurrency near you. Yes, I know, it is impossible to comply with. Businesses have to become an agent of the state to operate. While an individual may not comply, you can't ask every business to shut down. They won't.
Any moderate quantity of uncaptured (kyc free) property/money can only be acquired via money laundering.
Change My View
#asknostr #privacy
๐ช๐ต๐ฎ๐ ๐ถ๐ ๐ ๐ผ๐ป๐ฒ๐?
๐๐ฏ ๐ฆ๐น๐ค๐ฆ๐ณ๐ฑ๐ต ๐ง๐ณ๐ฐ๐ฎ ๐ต๐ฉ๐ฆ ๐ฆ๐ช๐จ๐ฉ๐ต๐ฉ ๐ค๐ฉ๐ข๐ฑ๐ต๐ฆ๐ณ ๐ฐ๐ง โ๐ฎ๐ญ ๐ค๐๐ฒ๐๐๐ถ๐ผ๐ป๐โ, ๐ต๐ฉ๐ฆ ๐ธ๐ฐ๐ณ๐ญ๐ฅโ๐ด ๐ง๐ช๐ณ๐ด๐ต #Ai-๐ฆ๐ฏ๐ฉ๐ข๐ฏ๐ค๐ฆ๐ฅ #Bitcoin ๐ฃ๐ฐ๐ฐ๐ฌ.
This is a deceptively-simple question with many complex answers, which must be asked by everyone at some point while they fall down the Bitcoin rabbit hole. nostr:npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev, nostr:npub1hghnjjpnvkz8t6gkszuf37d7puwc2qtxc65rnklqsngzv6kkug9qhhfyz2, and nostr:npub1klkk3vrzme455yh9rl2jshq7rc8dpegj3ndf82c3ks2sk40dxt7qulx3vt explore this question, and offer their answers for those taking the orange pill.
Below is Daniel Princeโs answer, as written in โ๐ฎ๐ญ ๐ค๐๐ฒ๐๐๐ถ๐ผ๐ป๐โ:
๐๐ฎ๐ป๐ถ๐ฒ๐น ๐ฃ๐ฟ๐ถ๐ป๐ฐ๐ฒโ๐ ๐ฎ๐ป๐๐๐ฒ๐ฟ:
In Austrian economics, money is viewed as a commodity that has evolved naturally in the market to facilitate exchange. Austrian economists, including figures like Ludwig von Mises and Friedrich Hayek, emphasize the decentralized and spontaneous nature of the emergence of money. In layman's terms, money is an agreed-upon medium of exchange used between two parties to execute a mutually beneficial transaction.
Over time, a commodity with specific desirable characteristics, such as durability, divisibility, portability, and recognizability, comes to be widely accepted in transactions. Without the emergence of a medium of exchange, humans would have been confined to using a barter system and would have not evolved to form complex societies and civilizations. The problem with a barter system is that it doesn't solve the economic phenomenon of โThe Coincidence of Wantsโ, whereby one party does not value or desire another party's goods or services. โMoneyโ solves this problem when both parties agree on a medium of exchange to use to transact peacefully and prosperously with each other.
Furthermore, Austrian economists argue against the notion of a central authority (like a government or central bank) having a monopoly on the issuance and control of money. They contend that a competitive and decentralized market for money is more likely to produce a stable and efficient monetary system and a more productive and peaceful society.
Daniel Prince is the host of the Once Bitten Podcast, with a mission to help educate as many people about Bitcoin as possible so that they can gain financial freedom, and the InspirEd Podcast, showcasing world thought leaders in the 'alternative' education space. He is also the author of "๐๐ฉ๐ฐ๐ฐ๐ด๐ฆ ๐๐ช๐ง๐ฆ: ๐๐ฉ๐ฆ ๐๐ฐ๐ฐ๐ญ๐ด, ๐๐ณ๐ช๐ค๐ฌ๐ด, ๐ข๐ฏ๐ฅ ๐๐ข๐ค๐ฌ๐ด ๐ฐ๐ง ๐๐ฐ๐ฏ๐จ-๐๐ฆ๐ณ๐ฎ ๐๐ข๐ฎ๐ช๐ญ๐บ ๐๐ณ๐ข๐ท๐ฆ๐ญ๐ญ๐ฆ๐ณ๐ด, ๐๐ฐ๐ณ๐ญ๐ฅ๐ด๐ค๐ฉ๐ฐ๐ฐ๐ญ๐ฆ๐ณ๐ด, ๐ข๐ฏ๐ฅ ๐๐ช๐จ๐ช๐ต๐ข๐ญ ๐๐ฐ๐ฎ๐ข๐ฅ๐ด". He hosted the Homeschool Global Summits 2019 and 2020.
Preorder your copy of โ๐ฎ๐ญ ๐ค๐๐ฒ๐๐๐ถ๐ผ๐ป๐โ, and ๐๐ฎ๐๐ฒ ๐๐ฝ ๐๐ผ ๐ด๐ฌ%, by contributing to our nostr:npub1kmwdmhuxvafg05dyap3qmy42jpwztrv9p0uvey3a8803ahlwtmnsnhxqk9 initiative:
Funny how the answer is conveniently excluding fungibility as an attribute of money. Why is that?
Admitting you have a problem is the first step to recovery.
Read this as an example of how things can go wrong.
https://simplifiedprivacy.com/unproven-proprietary-chainalysis-software-jails-bitcoin-user/