Good morning! It's January 3rd, which means its not your keys, not your coins day.

Unfortunately, this year the EU has decided to make withdrawing from exchanges a hell of a lot harder by extending FATF's Travel Rule to digital assets.

The FATF Travel Rule is not just a remarkable shitshow for your financial privacy and security – it's also a law to which authorities appear to have no data on its effectiveness to prevent financial crime.

What this means for you: If you want to withdraw funds exceeding €1.000, you'll need to prove that you own the address you are intending to withdraw to to your custodian.

It also means that exchanges are required to forward your personal information, including things like your name and address, to any custodian you are transacting with, and that an exchange may collect information on whom you are sending funds to and whom you are receiving funds from.

The Travel Rule does not just make withdrawing from exchanges harder, as custodians will need to employ third party software, employ a signing protocol like AOPP, or have you conduct a micro transaction to the custodian before making your transfer.

It also poses an incredible risk to your financial privacy and security, as your KYC info will not just be stored with a custodian you trust, but with any custodian you transact with – increasing the risks of hacks and identity theft.

In its current form, the Travel Rule has been mandatory in tradfi in the EU since 2012 – But nobody seems to know whether it actually works to prevent money laundering or not.

That's why I filed a FOIA request with German authorities last month, requesting data on all money laundering convictions in Germany since 2008.

Interestingly, the Ministry of the Interior responsible for national security and overseeing Germany's law enforcement, responded that it had no such information - instead asking me to file FOIA Requests with the German Ministry of Finance, the German Customs Authority, as well as with every public prosecutors office...

...which means that the updated Travel Rule is the extension of a law to whichs effectiveness law enforcement appears to have no data.

(FOIA Response in picture translated with ChatGPT)

Full Story:

Sparrow Server maybe?

One request for you cunts in 2025…. Get the group chats off fucking Telegram and on Signal or SimpleX so I can get all that good good sovereign individual info bruh!!!!🔫🔫🔫🚀🚀🚀🇺🇸🇺🇸🇺🇸💪💪💪🍄🍄🍄✊✊✊

Robert Kyosaki, author of "Rich Dad Poor Dad" discusses Gresham's Law where bad money enters the system and good money goes into hiding. In this short video of less than 8 minutes Robert starts off with silver, gold and he mentions Bitcoin, too.

For some understanding Bitcoin can't be done until they understand that the money they have is failing.

The question is also importantly asked, "Why are people poor?"

The answer is because they don't know about good money.

#Fiat

#Money

#Bitcoin

TIL that you can re-listen to old Podcasts and still get tremendous value out of them.

Give it a go and let know how you get on.

Citadel Dispatch: CD2: Privacy, Nodes, and No KYC with ErgoBTC & BitcoinQ_A