"Membership" .... LOL. 
I suppose this was inevitable. If a centralized service gets big enough, regulators come knocking. And then comes the KYC. Oh well, it was a good run. How's Changelly these days?
I suppose this was inevitable. If a centralized service gets big enough, regulators come knocking. And then comes the KYC. Oh well, it was a good run. How's Changelly these days?
Probably couldn't be happier with the news. In the case of Shapeshift though, their CEO apparently has been for many years resistant to kyc needs and avid supporter of privacy, and since he's not said anything public, one can only assume he's done this move in the corporate interest of his company and employees. Tough but I think he just killed his business model. The very service itself was based on that concept. But I think I saw this coming once they stepped in and froze stolen funds (from some exchange hack in South Korea if I recall). Everyone and enforcement thought it was a good thing, but once the precedent had been set, there really was no going back
I think that he did make some comments on twitter, and it really was giving off a feeling that he was definitely pressured into doing this. -- Either by Feds or investors in his company. It's a shame though, since Shapeshift is a pretty useful service.
When he's asked whether or not he's forced to implement it, his response is this.
Not appropriate to discuss on Twitter.
Sounds like someone is definitely forcing his hand. Whether it be law enforcement or his investors?Nobody wants to scan an ID and send it to us. We know that... it's a horrible thing to force people to do.
Then why do it...
