having a central register with all business addresses is a nightmare and can also easily be dodged when businesses just create new addresses that arent registered somewhere.
Which would be a massive attack on bitcoin. A single centralized register controlled by whom? And if that single entity decides an address is blacklisted, then that address can't transact with any registered business in the country/world? Completely centralized nonsense.
Exactly, thats why im saying all these useless regulations should be contested in court by businesses from the beginning, because there isn’t even a way that they could be implemented in a non nonsense way, thats what i tried to point out. Bitcoin is similar to cash, so they should make the case that it should be treated as such and not give in to any bs that these regulators want to push on them.
Maybe theres some room here to push back against these regulations by pointing out that theyre generally unenforceable and harm their customers and business models in the process.
Pointing it out to these services achieves nothing. Even when individual users try to explain to them the basic concept of how bitcoin works (i.e. coins which 10 transactions ago came from a casino are not still "tainted"), they don't care. Easier for them to just steal the user's coins and close their account.
Sadly yeah, i just hope some legitimate businesses will start to care and do something. It would separate them from the rest. But its unlikely to happen, they all just comply to nonsense.
The only thing which will work is mass action. If everyone stopped using Coinbase today because of their support of taint, you can guarantee they would abandon it by tomorrow and be lobbying the government to change the rules.
Agree, if everyone starts to inform their circle we can move something, many newbies simply don’t understand it yet, but they will if we explain it correctly.