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You're reading into things I didn't say. I don't claim that KYC will protect people--I claim that the regulations that do protect people go hand in hand with K
by p0pcult 4y ago
You're reading into things I didn't say. I don't claim that KYC will protect people--I claim that the regulations that do protect people go hand in hand with KYC.
Crypto as the libertarian dream of government-free "money" will never go beyond libertarians. Crypto as a broader-scale augment to existing financial systems? Who know? But that won't happen without KYC and regulation.
Know who seems so far unaffected by this? Coinbase. The one exchange who has been operating entirely within US jurisdiction and laws; trying to be as bank-like as possible, following all the rules.
- throwaway87274 4y agoBinance has been doing better than Coinbase by a large margin, fwiw. Their US presence is probably not as strong as Coinbase, but by and large they are the #1 worldwide exchange. US regulations are not necessary and really are just a pain in the ass because everything the US government touches becomes inefficient beyond belief, it simply relies on the owners of the exchange not being incompetent & fraudulent.