Quote from: Despairo on Today at 08:42:06 AM

Asking KYC to prevent money laundering is pointless, what if the money launderer use stolen KYC and successfully laundering the money? what will the centralized exchange do? if they report it to SEC and it mean the SEC will accuse a wrong person since the hacker is using stolen KYC.

Nah, it's worse to complete KYC beforehand, the best is just choose a no KYC P2P or decentralized exchange.

If money laundering is doing professionally, KYC is not enough because those guys have many tools to use stolen documents and submit KYC.

Governments and exchanges can use ChipMixer as their example that KYC is helpful, not useless, for them. They got the guy behind ChipMixer by KYC but it is useless and dangerous for people who don't care to do money laundering. They can not trust exchanges, governments to protect their privacy after KYC.

Why KYC is extremely dangerous – and useless