KYC is just to keep poor people poor and to give identity thieves more options to steal your info.
They only do KYC to tax you, it doesn't protect anyone.
It puts the user at risk, and the company forced to comply has a huge liability now (safe guarding your info).
when you buy gas at a gas station, do they ask who you are, with ID verification.. for your "safe" purchase of gas?
They claim kyc helps fight terrorism and fraud (see how well that worked out) but new ID's are even easier to fake than the older ones..
If people have enough money the right documents can be bought or made to bypass kyc, even worse is now instead of just fake info they made it easier to use someone's actual info... So instead of just having a dead end fraud case, innocent people now have to deal with being charged for crimes they did not commit.
Another example of how the future is just worse and sucks. They need to stop fucking shit up and leave it alone.
They only do KYC to tax you, it doesn't protect anyone.
It puts the user at risk, and the company forced to comply has a huge liability now (safe guarding your info).
when you buy gas at a gas station, do they ask who you are, with ID verification.. for your "safe" purchase of gas?
They claim kyc helps fight terrorism and fraud (see how well that worked out) but new ID's are even easier to fake than the older ones..
If people have enough money the right documents can be bought or made to bypass kyc, even worse is now instead of just fake info they made it easier to use someone's actual info... So instead of just having a dead end fraud case, innocent people now have to deal with being charged for crimes they did not commit.
Another example of how the future is just worse and sucks. They need to stop fucking shit up and leave it alone.