RE: Kraken Ordered to Turn Over Its Users’ Information to the IRS
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I am kinda happy for the similar 'news'. It highlights several very important facts. I always riding on privacy, as the survaillance maniac private, corp, gov orgs are really playing gods over everybody, and they even try to paint the picture, it is normal, and very good for everybody, especially for any given person.
Similar things will show the most important basic part of crypto. Privacy. It was just a decade ago when the BTC fairy tale created, highlighting privacy. It seems to me, people completely forgot...
and the 'don't use any KYC exchange' part is also a very basic thing, so real crypto enthusiasts won't be hurt at all, nor hunted by similar orgs like irs, as they exactly know how important are these things.
If you need to get your money back to fiat you will need to kyc. There is not enough of a infrastructure to buy everything you need with crypto.
Sorry, but that is not true. Yes, generally, that cost maybe 1-2% more, and the options are getting limited, but there are still enough 'small gates', what are left open purposely, same like in the fiat world. Of course, finding them takes some effort, but not much.
I don't suppose, you don't know any of these ways. However, I admit, that kyc services are the easiest and fastest way to get back some fiat from crypto, and I am not proud of that, but partly I use that, too. (The only part what for I use KYC services (but not exchanges) in crypto world, even like that 'who knows how I get that crypto to my account?'. )
once again, it's not the only way, and personally, I think, they will keep some of the options open, because they use them, too.
probably a good example the Monero and several other privacy coins ban on some exchanges, just recently in the west. Strangly enough, if you want to 'finance a war' (gifting it to who knows who) from the very same countries, that's perfectly okay, you can do that... it's getting very similar like financial system, probably, because the very same normies make the 'rules'...