Quote from: o_e_l_e_o on Today at 08:24:33 AM

Quote from: dollarday on April 04, 2023, 10:53:44 PM

It seems for western-based traders only bitcoin atms and exchanges that are fall under KYC rules will be available to buy and sell bitcoin.

Not true. There are dozens of actually peer to peer/decentralized/anonymous exchanges: https://kycnot.me/

Quote from: dollarday on April 04, 2023, 10:53:44 PM

Does this kill off in person trades in the US.

Well, considering I've been trading in person for years and have never once used Paxful, the answer to that is a resounding no.

This will remain an interesting topic and while I believe that more decentralized or anonymous p2p exchanges will become relevant, one has to keep in mind that in some countries authorities plan on expanding the proof of funds law. In my country it could already happen that if you engage in an anonymous p2p exchange without documenting who the other person was, you could have a problem when you once cash out the Bitcoin in an official way and financial authorities ask you to verify the origin of those Bitcoin in the first place. Even though you have done nothing wrong, paid a market price for the Bitcoin and you didn't use funds from criminal sources, a p2p exchange could turn into a problem.

Further, they plan to force exchanges to KYC every single self-custodial wallet address that is used to send crypto to an exchange. I guess the agenda is clear here: undermine even the last little bit of privacy wherever possible. In a worst case scenario you are depositing Bitcoin that you earned doing some freelancer work to your exchange account, then the Bitcoin get frozen at first until you provided KYC for that address and a proof for the origin of those funds. The goal is also to make it hard to use crypto and reduce its everyday utility. That's so outdated and counter-innovation (weird this sounds like a description of the banking system). The powerful banks are often those who complain about crypto and demand stronger regulation for any crypto-based service or functionalities.