The unfortunate battle we face is that people don't see what's coming. They aren't equipped to understand what the law of the EU and US can do. People underestimate the sheer technical capabilities and cunning of the state. Worse yet, they fail to realize that these ideologues have a completely different world view. For as much as you seek to avoid censorship, they \*believe\* in the neccessity of it.
From their perspective, everything is a potential threat to their power, to their narrative, a weed in their garden.
Binance mandated full KYC today. Onlyfans just used the payment rails to threaten the livelihood of god knows how many people. I'm consistently met with blank stares when people realize just how actually censurable they were and how caught in the blue they were by US financial regulations. Consistently people underestimate the capacity to censor payment rails. This was one ideological group, puritans, not even the main one which I will not mention who is \*really\* obsessed with censoring peoples payment rails for wrongthink.
They have a new tool, you may have just seen, being implemented on Bitmex, Deribit, Huobi, and Binance. It's called Veriscope. It's a "trustless decentralized" way to comply with the "Travel Rule". Well it is basically blockchain Swift.
"Compliance is an NFT" If you don't have the layer 2 KYC token, you get financially excluded. Pretty Simple.
How long until every native wallet in the world gets blacklisted from depositing to full KYC exchanges that does not have this Veriscope thing on it, how long before they start blocking deposits that don't have a full custody chain history of wallets and Vasps with travel rule compliant layer 2 KYC tokens. We always knew this was coming.
Whirlpool can't work on this, nothing that lacks the KYC token can. They're sneaking a gardened "Fungibility Crisis" onto us. They're recreating Swift, and global financial exclusion. They want to, it's what they \*believe\*.
Look I hate to say it fo...
2.1 million Salvadorans are ACTIVELY USING @chivowallet (not downloads).Chivo is not a bank, but in less than 3 weeks, it now has more users than any bank in El Salvador and is moving fast to have mor...
IMF chief Kristalina Georgieva criticized as "false and spurious" the findings of an independent probe into allegations that as World Bank head she pressured staff to manipulate data to make China's b...