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> In practice, this means that a service provider exchanging crypto on behalf of a customer would have to record their name, address, date of birth and account
by rspeele 5y ago
> In practice, this means that a service provider exchanging crypto on behalf of a customer would have to record their name, address, date of birth and account number, as well as the name of the intended recipient of the transfer.
As usual, the regulation checkpoint is at the exchanges.
- deleted 5y ago[deleted]
- nyanpasu64 5y agoAnd what happens when you transfer it to a mixer? A self-hosted wallet? Or the EU regulate exchanges to the point you can't transfer your Bitcoin to a wallet you own?
- neverywhere 5y agoMixers will be considered illegal by the EU. It sort of makes sense. Mixers are primarily used to hide one's identity when doing shady/illegal things with cryptocurrency.
- colinmhayes 5y agoWhat about deFi swappers?
- meepmorp 5y agoNo, they're cool with that specific kind of money laundering.
- pavlov 5y ago> “Or the EU regulate exchanges to the point you can't transfer your Bitcoin to a wallet you own?” Why not? The EU regulates banks to the point that you can’t transfer money to an account in North Korea. It’s not obvious why Bitcoin exchanges should be regulated differently (as you can’t prove the random Bitcoin address isn’t controlled by NK).
- nyanpasu64 5y agoNot allowing individuals autonomy over how they choose to spend their own money sounds authoritarian.
- Thiez 5y agoYou live in a country where everything is legal to buy and sell, then?