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> If the answer is there should be no AML, KYC (edit: know-your-customer rules) and/or reporting by cryptocurrency companies, we have no common ground on this argument. I still don't understand this. KYC has devolved into something unreasonable and it needs to be removed from the existing system, not extended. When KYC was originally implemented, your bank was where you deposited your paycheck, paid your mortgage and withdrew some cash every few weeks for your expenses. If your bank knew who you were, they knew where you lived and where you worked. The first is a matter of public record and the second isn't exactly a big secret. Maybe you also had a car loan. Today it has been extended to everything you buy on the internet or with a credit card, and people now buy everything on the internet and with credit cards. It ties your government identity to the books you read, the medical care you receive, genetic tests, what you eat, the establishments you patronize, your location history if you go anywhere and buy gas or anything else, who else was there at the same time, it's your whole life. We need the ability to buy a copy of Das Kapital or a drink at a gay bar without being put on a List. |