Post
Topic
Board Bitcoin Discussion
Re: KYC propagation beyond my ownership
by
88mph
on 02/07/2023, 10:45:16 UTC
Any and all coins are at risk of being flagged by centralized exchanges. Centralized exchanges use different blockchain analysis services which have different criteria and different blacklists for which coins they will and will not accept. What is acceptable to one exchange may not be acceptable to another, and vice versa. I previously did a quick analysis which showed one particular blockchain analysis service thought that 25% of the coins coming out of Binance should be blacklisted. You could quite easily buy all your coins through a regulated KYC exchange and find them seized when you deposit them to another regulated KYC exchange. Never mind all the other risks which come with using KYC exchanges of zero privacy, zero security, the possibility of scams, insolvencies, hacks, data leaks, etc., and the possibility the government shutdown or seize all their assets at any time.

This is pretty scary! To suddenly lose one's coins to seizure by an over-zealous exchange simply due to the history of those coins.