KYC = Know Your Customer
As the name implies, this law only applies to (financial) businesses and their customers. Most Bitcoin transactions are P2P and hence there is no business/customer relationship and hence there is no KYC law applicable.
As the name implies, this law only applies to (financial) businesses and their customers. Most Bitcoin transactions are P2P and hence there is no business/customer relationship and hence there is no KYC law applicable.
That's a bit of a nonsense statement. It's a P2P payment network so you have no way of knowing if most of the transactions going across it are between businesses and customers or person to person. Quite simply that's a claim you can't back up.