Post
Topic
Board Gambling discussion
Re: why kyc?
by
Coinster
on 10/04/2018, 02:21:02 UTC
To be honest all fiat casinos are enforcing KYC and with all this regulations and buzz around crypto I think we might see KYC in every crypto site, not only casinos. It is just matter of time.

I think there is a danger of that. Of course the KYC for casinos is really all about keeping governments big and in power, as they want to collect taxes on everything.. It's not about money laundering. We've seen large banks launder money to drug cartels with nothing happening but a slap on the wrist and/or easily payable fine.

For now it's a cat and mouse game of crypto services trying to stay a step ahead of creeping registration. We need to proactively educate the public about why govs really want to have all info on their living activities. It's all about staying in power and further growing that power.