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Perhaps, but the tx fee is part of the crypto transaction, and happens entirely on-network. If standard crypto rules apply, the only people that need to KYC are
by judge2020 5y ago
Perhaps, but the tx fee is part of the crypto transaction, and happens entirely on-network. If standard crypto rules apply, the only people that need to KYC are the ones cashing in/cashing out USD.
- throwawaygh 5y agoSomeone is doing the KYC either way. It gets paid for one way or the other, and that cut comes out of the price the consumer is willing to bear for the underlying item. The cost of KYC might not even be the biggest issue. The friction will be a non-negligible drag on sales.