Post
Topic
Board Press
Re: [2019-06-21] FATF: "37 Global Crypto Exchanges Must Now Share Customer Data"
by
Carlton Banks
on 23/06/2019, 15:06:35 UTC
There are many countries who will not abide by these rules, any large decent exchange will simply pack up and move. It's not like they have to be situated on their land, servers and data are easily transferable.

that might work for a year or two until countries start getting blacklisted by the financial system. the first FATF statement on compliance with these rules is in june 2020. they may start blacklisting at that time. at the latest, it'll start happening by 2021.

pfffff, who cares, Bitcoin is designed to handle exactly that problem. It's a bit like the US gangsterment threatening to blacklist people from using SWIFT or dollar based bank accounts; when there are alternative networks, and all the blacklisted people are trading with one another over those, then it's not only a non-credible threat, but it actually harms those doing the blacklisting more than it does their targets