Ninjastic
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Board Bitcoin Discussion
Re: Bitcoin mixing is NOT money laundering, per se
by
bbc.reporter
on 24/10/2023, 01:27:45 UTC
Quote from: o_e_l_e_o on October 23, 2023, 07:31:04 AM
Quote from: bbc.reporter on October 23, 2023, 01:46:21 AM
Be careful on using a mixer then sending coins to a centralized exchange or a gambling site where you have KYC.
Wrong message.

What we should be saying is "Be careful using centralized exchanges", or better yet "Never complete KYC anywhere." Mixing is not the problem. Coinjoins are not the problem. If anything, knowing how draconian the government is being with trying to surveil you and your coins, you should be mixing and coinjoining more, not less. Stay private, and stop using services which sell out your privacy at the drop of a hat and work in cahoots with your government to surveil, monitor, and control you.

You are either free, or you comply. You can't be both.

You are correct. Let me rephrase and let me share the announcement from Fincen.

Based on a recent report, this could affect more than 300 million users of unhosted CVC wallets insofar as a user’s personal information may be reported if their wallet is deemed by a covered financial institution to be involved in a covered transaction. Because there is no restriction on the number of wallets an individual may have, this number may overestimate the number of unique individuals whose personal information may be required.

Source https://www.fincen.gov/sites/default/files/federal_register_notices/2023-10-19/FinCEN_311MixingNPRM_FINAL.pdf

@everyone. Based on this and if anyone has already used a mixer or DeFi with a certain wallet, be careful on using the wallet for centralized exchanges or gambling sites where you have KYC accounts if these new rules are implemented.