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All the KYC laws in the world won't help when someone in another country transfers a bunch of bitcoin from the exchange account to theirs. Or even worse in som
by Klathmon 9y ago
All the KYC laws in the world won't help when someone in another country transfers a bunch of bitcoin from the exchange account to theirs.
Or even worse in some cases, someone that maliciously "burns" all of your bitcoin irrevocably destroying it forever by sending it to a bad address. Even if you catch the person that did it, that bitcoin is gone forever, and you can't just bring it back without concensus of the extreme majority of all miners and users (which isn't going to happen in bitcoin, it barely happened in Ethereum when it was much smaller with the DAO hack)