Quote from: OcTradism on Today at 10:36:22 AM

Quote from: Agbe on July 03, 2023, 04:02:20 PM

Wow!! Nice explanation. Thanks. I was thinking of a different dimensions. I was thinking that, the individual p2p transaction is also visible to the government for them to track you down but from your explanation, it is based on exchange platforms which is true of what you said. What surprised me is your last paragraph, I have not thought to that area and if anyone does that, it is very bad. Revealing your trading colleagues information to the government so they can persecute the person. That is a very wicked ack from the highest order.

It is potentially big problem if you have trades with scammers.

If you have trades with good trade partners, trades will be completed smoothly, no problem for both sides and I believe your trade partners will not report you to banks immorally like that.

Oppositely if you have trades with bad trade partners. Because they are scammers, if they fail to scam you and if you win disputes, their accounts get banned, they will react in some weird immoral ways. One of such immoral ways is reporting you to banks and governments. It is one of risks but it is barely seen and sometimes, if your bank account is terminated, frozen, you will not know exact reasons.

Anyone who tries to go full-on crybaby and destroy your (fiat) platforms, can easily be mitigated by hiring an attorney and disputing the termination with the banks or whoever was responsible with a mediator.

Banks have nothing to gain by sticking with the reports of scammers, so they will undo all the damage in order to avoid potentially millions of dollars-worth of litigation.