Quote from: Silberman on October 28, 2022, 08:22:57 PM

Quote from: LotusHedel on April 06, 2022, 11:52:35 PM

Quote from: Bitcoin_Arena on April 06, 2022, 11:47:46 PM

One day and exchange like Binance may block a user's funds and will request for KYC verification before releasing the funds. How will you go about this?

We use Binance internally as an "institution" we are fully KYC/AML verified. User won't interact directly with Binance we only use their "api' for trading and liquidity.

Then Binance will simply block you, even if you have passed their verification schemes they will block your account as you are not doing your part on identifying the users that are part of your platform, and even if binance did not do this you can be sure that governments will eventually put attention to you and try to force you to comply, so even if the community has a big interest in exchanges which do not force them through KYC we know that as long as they are centralized they will have to eventually force their users to go through it.

Well, I think we all know that Binance has always knelt to any government, when they need specific data from some suspicious entity or person for them, Binance can grant it, that's what I don't like about Biannce, actually one of the exchanges that I really like a lot and that handle good volume is Kucoin, it is a reliable exchange, it has been there since 2017-2018, I don't remember exactly, but I know that it came out by that date, and well, really, in the way that Kucoin is being handled, I like it, at least governments and/or banks are not kneeling, it is something that everyone wants to take advantage of, because Binance is very good but it has that flaw.