⭐ Merited by o_e_l_e_o (4)
https://freedom.tech/patriot-act-comes-to-cryptocurrency/
A fantastic article authored by Seth For Privacy (https://nitter.cz/sethforprivacy), who is the Head of Strategy & Marketing for Foundation Devices, known for their Passport hardware wallet.
As I've mentioned in another thread, and as Seth explains in this article, this newest piece of legislation is an outright attack on bitcoin. It is clear the US government want the only way to use bitcoin to be through fully KYCed centralized exchanges. They are trying their hardest to absorb bitcoin in to the existing fiat system and surveillance state, and destroy the very thing that bitcoin is.
What can you do about it? Get your coins off of any centralized exchange and in to your own wallet. Close your KYCed accounts and refuse to ever complete KYC again. Use privacy tools. Anonymize your coins. Refuse to use any service or product which treats bitcoin as non-fungible and discriminates against or censors certain coins. Bitcoin was not made to become an off-shoot of the fiat system, to be another tool by which the government can can surveil, censor, and control. And if you happen to live in the US, start contacting your representatives about this draconian piece of legislation.
https://bitcoiner.guide/nokyconly/
https://kycnot.me/
Spam will be deleted.
A fantastic article authored by Seth For Privacy (https://nitter.cz/sethforprivacy), who is the Head of Strategy & Marketing for Foundation Devices, known for their Passport hardware wallet.
As I've mentioned in another thread, and as Seth explains in this article, this newest piece of legislation is an outright attack on bitcoin. It is clear the US government want the only way to use bitcoin to be through fully KYCed centralized exchanges. They are trying their hardest to absorb bitcoin in to the existing fiat system and surveillance state, and destroy the very thing that bitcoin is.
What can you do about it? Get your coins off of any centralized exchange and in to your own wallet. Close your KYCed accounts and refuse to ever complete KYC again. Use privacy tools. Anonymize your coins. Refuse to use any service or product which treats bitcoin as non-fungible and discriminates against or censors certain coins. Bitcoin was not made to become an off-shoot of the fiat system, to be another tool by which the government can can surveil, censor, and control. And if you happen to live in the US, start contacting your representatives about this draconian piece of legislation.
https://bitcoiner.guide/nokyconly/
https://kycnot.me/
Spam will be deleted.
The Biden Administration has been fighting against crypto real hard with its strict regulations. First it was Tornado.Cash, then the SEC's aggresive stance towards crypto (by classifying almost every digital asset as a security), and now the enforcement of KYC/AML across all crypto exchanges. I've read somewhere that the US Treasury Department wants to target crypto mixers as they can be used by Hamas for money laundering/terrorist financing. Isn't Fiat currencies like the USD and EUR used for said purpose? All of this could stifle innovation/growth for the crypto industry in the long run.
I believe the US government is doing this because it doesn't want people to embrace the full benefits of decentralization + censorship-resistance that comes with using Bitcoin. If this keeps up, people will end up trading BTC through P2P or truly-decentralized exchanges. It will be a "headache" for the government, because it's much harder to identify people using these alternatives (after all, there's no KYC). One can only imagine the US government will eventually "ban" Bitcoin like it banned Gold a few decades ago. I really hope Americans in support of crypto stand against the new legislation for the healthy growth of the industry. Who knows what will happen in the future?
