Post
Topic
Board Legal
Re: Local bitcoin exchange KYC tax is dead/exempt now?
by
yhiaali3
on 03/10/2023, 09:06:49 UTC
The entire point of this post is asking what happens to KYC when the business goes bust and there is no employees and if they delete accounts do they delete KYC information. Alot of exchanges going bust and I'm curious
Rest assured that any KYC data or personal documents submitted to exchanges will be a copy of it in the hands of the government and they will not delete it for a long time, most likely never. All this data is stored and used whenever needed.

Even exchanges or services that claim to be decentralized collect information about you through your browser such as IP and other information and use it upon request.

Remember the MetaMask incident how they blocked Russian users when the Russian-Ukrainian war started even though they were claiming that they did not have access to user data. And also the Chipmixer incident.