Post
Topic
Board Bitcoin Discussion
Re: The PATRIOT Act comes to cryptocurrency
by
franky1
on 26/11/2023, 22:26:11 UTC
All we have left are DEXs and P2P exchanges. You will end up paying a higher premium by using these alternatives, but it's worth it. Especially when you don't need to provide your personal info to use them. If governments' efforts are rendered useless, they might "ban" crypto altogether. There's no reason to be concerned about this, as long as decentralization wins in the long run. Wink

if using DEX for real world fiat(meaning bank deposits not stable coins) be warned.. if you or the other users of DEX you trade with may be doing ALOT of trades via their bank account but under the guise of personal payments. banks will see these people as operating a money service business and will request they formalise as a MSB and do the compliance or stop operating. they will ask for explanations for all the payments.

this has been the case with localbitcoins.com users years ago. and look what happened to most of those traders