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A comment on Binance sees $2B in outflows as troubles compound. Parent comment

Re:Binance sees $2B in outflows as troubles compound by tim333 on Wednesday March 29, 2023 @12:35PM (#35359668)
>If the customer's identity can be verified or if a regulated crypto provider is involved, the transaction would be allowed.

I'm not sure that's that bad. I've got some crypto wallets but the stuff has got there by me transfering fiat to Kraken, with KYC, passport scan etc and then the USDT or whatever to the wallet so it's easy enough to trace it to me.

If you allow fully anonymous stuff to interact with the regular financial system it does kind of leave it open to all sorts of tax evasion / illegal activities.

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Re:Binance sees $2B in outflows as troubles compound by quantified on Wednesday March 29, 2023 @01:38PM (#35360549)
This. Anonymous interaction with the regulated system won't fly, regulation cannot be applied to unidentified entities. Anyone can have their blockchain, just don't expect police or courts to protect you, they may hunt you instead.
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Re:Binance sees $2B in outflows as troubles compound by trompetenaccoun on Thursday March 30, 2023 @03:42PM (#35377862)
You mean anonymous like cash?

Do you want to make cash illegal and the government to trace every single financial transaction you do? Even worse, web3 is mostly not about money in the first place. Do you want them to track everything you do online, every app you interact with, every file you uploaded?

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