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Yes, I'd agree that, today, typically nobody is checking to make sure that an Ethereum transaction is legal. But, it's important to understand that Ethereum is
by spir 7y ago
Yes, I'd agree that, today, typically nobody is checking to make sure that an Ethereum transaction is legal.
But, it's important to understand that Ethereum is not a replacement for or opponent of KYC, AML, or checking if transactions are legal. Ethereum is a starting point, a base layer. It is necessary to rebuild all kinds of monetary controls into Ethereum's app layer. I support this development. Within 5-10 years all of the traditional controls will become available on various parts of Ethereum -- KYC, ability for government to freeze accounts, etc.