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Isn't the whole point of crypto to keep PII out of it completely? If not, what is all this non-sense for exactly, other than the typical goals of pyramid scheme
by kgwxd 1y ago
Isn't the whole point of crypto to keep PII out of it completely? If not, what is all this non-sense for exactly, other than the typical goals of pyramid schemes?
- charcircuit 1y agoUnfortunately government regulation does not make that possible for exchanges. It also is not the point of crypto.
- sowbug 1y agoCoinbase is a bridge between digital currencies and the traditional world.
- deleted 1y ago[deleted]
- ty6853 1y agoThe main point of crypto IMO is to have a large-denomination bearer asset. This is overlooked most places but if you examine around the time the FATF finally pretty much eliminated bearer bonds, bearer stocks, and large bank notes was exactly the time crypto really took off.
- Tokumei-no-hito 1y agothis? https://www.investopedia.com/terms/b/bearer-instrument.asp https://www.investopedia.com/terms/b/bearer-instrument.asp
- ty6853 1y agoyes. IIRC ~2015 was when the last of bearer bonds/shares were pretty much all completely immobilized. I can't recall when the last ~1000 USD equivalent banknotes were printed but it was also close to that time.
- voidspark 1y agoNot if you are dealing with a regulated exchange that facilitates fiat money transactions. You can receive crypto privately to your own wallet without sharing PII, without any exchange.
- dboreham 1y agoThe PII is required by governments, to convert crypto money into real money.
- udev4096 1y agoIt's simple. They want to centralize crypto and dickheads like armstrong are happy to be in line to make that happen. Just look at tether, what's the point of it? It's nothing but a front for inflating the price of bitcoin. It has NEVER been audited and has been found to NOT have any USD backing at all