This is true, plus that's just Europe and not the whole world. As someone who doesn't live in Europe, I do not care about what their laws about crypto is at all.
exactly, who cares EU Parlament!!
I don't have time to bother about them.
Bad attitude to have. The US are in the process of passing similar laws. Now the EU. When two of the largest crypto markets in the world move in one direction, then most companies will follow so they can continue to operate in these jurisdictions, and many other countries will fall in line with similar legislation. This will absolutely spill over to other countries.
So for the already KYC`d accounts there is no practical difference now and then !?
With this legislation,
every transaction you make via a centralized exchange is reported directly to the relevant authorities in your country. So I would expect a lot more cases of people having accounts locked or coins seized pending some nonsense investigation because some sketchy blockchain analysis has decided that you might be a criminal.
Coins are used for paying and being paid
This is the critical step. Storing your own keys, running your own node, using open source software, mixing your coins, etc., are all trivial. Being able to spend your bitcoin without going through the fiat system is that hard part. I don't want to sell my bitcoin for fiat and then spend the fiat, I don't want bitcoin debit cards which sell your bitcoin for fiat at point of sale, I don't want to have to buy gift cards first, I don't want to have to go through some third party processor which swaps my bitcoin for fiat at the point of sale. Although I do some of these things to let me spend my bitcoin, what I really want are merchants which accept bitcoin directly. Give me enough of those, and avoiding the fiat system entirely becomes easy.