Quote from: o_e_l_e_o on Today at 02:29:21 PM

And if this legislation is going to make every other payment processor in the EU start requesting KYC and proof of where the coins came from for every transaction from buying a coffee to paying for an Uber, then perhaps self-hosted solutions which bypass this will just become more attractive and more popular.

They just initiated a war, did they not? They are attacking us with Know Your Customer and this is a HUGE incentive for more privacy oriented tools and software. First was Bitcoin and they tried attacking it directly. Then came the Mixers, Coin Joins and all of this and they tried labeling them all as 'potential illicit activity'.

Recently Mixers, Coin Joins and Lightning Network came under attack. And as of now they are trying to attack Bitcoin directly. Slowly, just like the Centralized Exchanges. First came the Tier 0 accounts with Verification Thresholds and now most of them turned into mandatory Know Your Customer for all accounts, with no Threshold. Now here comes Know Your Transaction, the next step.

If some governments started requesting tax reports for EVERY on chain transaction and the European Union is willing to go as far as requesting Know Your Customer or Know Your Transaction information for every single transaction made through third party payment processors. Some countries have maximum limits for cash transactions. Then making Know Your Transaction information exchange mandatory with a threshold is very close. Give them an inch, guess how much they will take.

As Bitcoin or Cryptocurrency users, is there any way we can oppose this? Any way non EU members can help by opposing this law or does the voting and all happen among these fossil leaders and decision makers out of who most have no idea how Bitcoin even works?

-
Regards,
PrivacyG