AML and KYC is going to kill crypto , or at least make it unusable

Unless you are willing to divulge all your personal info and keep a fully audited paper trial of all your funds and trades and exchanges, it is becoming increasingly hard convert coins into other other coins, into cash, or do anything. It has gotten so bad now especially since 2018. I remember in 2010 you could open a broker account by just wiring money and filling out a form. Crypto has worse regulation than opening a Robinhood account: Binance and other exchanges will request more info from you than even stock brokers will, which is just absurd when you think about it . Now making even a $500-5,000 crypto transaction require full ID and other info. All exchanges have automated security and can steal your money unless you give full disclosure. What good is crypto if you cannot use it anonymously. Yeah, there is the dark web, but it is full of feds, is slow, and too many scammers.

submitted by /u/Eastballers to r/btc
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Quelle: bitcoin-en