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The trend is towards KYC compliance and automatic sharing with tax authorities. I assume after a while very few countries will tolerate exchanges not complying.
by tonfa 9y ago
The trend is towards KYC compliance and automatic sharing with tax authorities. I assume after a while very few countries will tolerate exchanges not complying.
- jMyles 9y ago...and what exactly will they do about it? The question is about decentralized exchanges. Countries may choose not to "tolerate" whatever they wish, but the internet is under no compulsion to tolerate shortsighted countries.
- tonfa 9y agoThey can prosecute the operators of those sites, not like it didn't happen in the internet before. Usually some things survive, but at the cost of extra hurdles (e.g. only accessible via tor, but even there, some people got busted through bad opsec).
- jMyles 9y agoYou mean the operators of web front-ends which provide access to the exchange? I suppose that's possible. But I don't know how long that will even be the main way that people access them.
- joshuakelly 9y agoExactly — dapps are unstoppable, at least with any conventional approaches to internet censorship
- nrhk 9y agoIf China's firewall can't stop it, nothing will
- uncletaco 9y agoRegulate that ISPs block the protocols.
- stale2002 9y agoISPs would have to block all crytocurrencies for that to work. That would work, I guess, but that is a huge step to make and governments aren't currently talking about how they plan in banning all of Bitcoin.
- jMyles 9y agoHonestly, that sounds like a dream scenario for creation of a new, better, fully distributed internet. This is my favorite timeline.
- throwaway30yo 9y agoThey would need to regulate every ISP in the country to block the protocols, and then go after every website just using those protocols under the hood (and most of these would not be in the USA). I can't see that ever happening especially because these protocols would have non currency uses as well.
- cinquemb 9y agoRegulate people using handcranks to power portable transmitters transmitting information at variable frequencies to be received and picked up by those who know of beamforming and antenna design.
- Ajedi32 9y agoIncluding the OpenVPN, HTTPS, SSH, and TOR protocols? (All of which could trivially be used to circumvent such a block.)