Post
Topic
Board Gambling
Re: Anonymity is no longer a benefit of gambling with cryptocurrency.
by
Porfirii
on 11/08/2023, 04:51:57 UTC
That's basically the logic behind the implementation of KYC protocols, to deter money launderers, scammers, and every form of malicious actors from using the casino as a way for them to store their ill-gotten funds without getting caught. Virtually everywhere in the cryptocurrency world you can keep your money without getting caught if you're a scammer, but if you want to use it in real life you'd have to run it through an exchange, or convert it to fiat through online casinos, good thing that most of them do these since at the end of the day it stops these people from being able to get a hold of their funds outright. And while it's a flawed system that needs some form of improvement to make sure that it doesn't inconvenience anyone but those that need to be inconvenienced, it's a much needed one.

Casinos are starting to ask for video selfies. Play at little to no KYC casinos.

I agree that measures against money laundering must be taken, but I'm a bit afraid about a system where false positives might occur and, even more, where personal data can be handled dubiously by these businesses who ask for KYC.

In my country, for example, the Organization of Consumers and Users has recently sued some banks because they were asking too many personal data under the umbrella of the anti money laundering laws.

Now you talk about video selfies: how can biometric data like voice and face be used in the future? well, nobody knows...