Re: Confused on the True Purpose of Non-KYC Crypto Debit/Prepaid cards
I don't know why someone would look for virtual crypto cards (is that what we're talking about here?) that would be linked to a crypto wallet? Virtual cards (Visa/Mastercard) that can be bought for cryptocurrencies and paid with online or added to a mobile wallet and paid with at POS devices are much more logical to me.
Even such cards have limitations, and if they cannot be activated with VPN/Tor, it is difficult to be anonymous with them, especially if you pay through a POS device. Be that as it may, if you're trying to spend cryptocurrencies that are in any way connected to something illegal, sooner or later someone will knock on your door, especially if it's a significant amounts.
Even such cards have limitations, and if they cannot be activated with VPN/Tor, it is difficult to be anonymous with them, especially if you pay through a POS device. Be that as it may, if you're trying to spend cryptocurrencies that are in any way connected to something illegal, sooner or later someone will knock on your door, especially if it's a significant amounts.
AML means anti money laundering and money laundering means turning profits from illegal sales such for example class a drugs sales into clean legitimate income. Laundering dirty money into clean money that can be spent on mansions and Lamborghinis and such without arising suspicion.
For someone who is depositing less than $500 worth of stablecoins into a crypto debit card I cannot understand why providers ask for KYC-AML for such tiny amounts that is laughable to big time drug lords and rich criminals
Which rich criminal is going to spend his time and resources going to launder $500 or even $5000 or heck even just $50000. The $50000 doesn't even buy you a house nowadays unless were still living in 1980s. $50000 is lower than the average annual wage in the USA. This has nothing to do with money laundering, its all about controlling your money.
Rich criminals and rich people do not use normal bank accounts and normal debit cards like we do. They use private banking that respect privacy laws that do not invade your privacy by asking private docs for AML KYC. Is privacy becoming a luxury now for the rich only not for the poor?