Re: European Union to ban anonymous crypto and privacy tokens by 2027
CEX or DEX or P2P, if you do your trade in bank transfers, it will make some data in your bank account and bank transfer history. It is data for banks and whether they know that your bank transfers related to Bitcoin, cryptocurrencies or not, it depends on other data and behaviour of accounts of you and your trade partners.
Assume that banks and governments don't know that you have trades related to cryptocurrencies but if you are trading with a trade partner that is identified by banks and governments, they will find you and ask for more details, evidence of your bank transfers. It's when your trouble starts to appear and you can imagine what might possibly happen next.
Assume that banks and governments don't know that you have trades related to cryptocurrencies but if you are trading with a trade partner that is identified by banks and governments, they will find you and ask for more details, evidence of your bank transfers. It's when your trouble starts to appear and you can imagine what might possibly happen next.
Yes. There's the risk of getting "flagged" by the government due to suspicious trading activity. You need to be careful when dealing with someone you don't trust. One day, you might end up trading crypto on a P2P trading platform (or in-person) and get caught because the person you've dealt with was an undercover cop or government secret agent.
As for DEXs, I believe no such risk exists. Especially if we're talking about truly-decentralized exchanges based on smart contracts (like Uniswap which is an AMM). You can also use cross-chain bridges to "trade" from one coin to another in a "non-custodial" manner. Atomic Swaps will become a true game-changer in this regard. The ideal way to exchange privacy coins without the added risk. Governments are always trying to find ways to get their noses in people's financial life. So it would be up to you to follow the necessary security precautions to continue enjoying privacy and freedom.
