The biggest reason for KYC and regulations are anti money laundering and corruption.
By making non KYC transactions easier, above becomes much easier and crime, fraud, scams and corruption significantly more profitable.
By making non KYC transactions easier, above becomes much easier and crime, fraud, scams and corruption significantly more profitable.
Stablecoins' success is also a reaction to the ever-increasing friction created by overreaching regulation. If you have a supplier in China, and need to buy some in-demand goods, you can sign the contract and send the money now, whereas with the classic banking system, you'd have to wait for two weeks to clear everything. This alone is brilliant and should be welcomed for its usefulness.
Almost all the crypto I have is from p2p or freelancing. Very few could connect my identity and my wallets.
I think it would be wholly better, in democracies, if we changed laws we didn’t like than tried to create technology to evade them.
The main proponent that dictates the regulations, the FATF, is a shady, unregulated body that is used for political and economical repression.
Not all blockchains are decentralized, it depends on the consensus mechanism