Comment by egorfine
9 months ago
Fortunately crypto exists. Fortunately, it is perfectly usable in real world while avoiding most of the KYC/AML crap.
9 months ago
Fortunately crypto exists. Fortunately, it is perfectly usable in real world while avoiding most of the KYC/AML crap.
Honestly, probably not for long. Like, basically any Western headquartered crypto company will have (at least in theory) KYC/AML checks.
And I'm not sure how you plan to get your crypto into fiat without hitting a bank/financial institution which will have these checks.
Like, this is part of society (for some good and some bad reasons, like a lot of other things).
This is one of the US political instruments, and not part of the society. Money existed for like 4,000 years before KYC/AML, and the society was just fine in regards to money.
> This is one of the US political instruments, and not part of the society. Money existed for like 4,000 years before KYC/AML, and the society was just fine in regards to money.
I wish you the very best of luck in colonising mars, as this is basically the only way you'll avoid KYC/AML in the long-term.
More seriously, I'd probably start making provisions for taxation of your crypto as it would really suck to have that happen unexpectedly (and it will, as governments start forcing financial/crypto institutions to report to them).
> Money existed for like 4,000 years before KYC/AML, and the society was just fine in regards to money.
As an aside, money is relatively recent, debt is the thing that's existed for much longer. And unfortunately, society determines what is important, and apparently society (well actually the US government) has decided that KYC etc matters to society.
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