Surveillance architecture becomes reality in Australia today.

AUSTRAC’s Travel Rule is now live with *zero threshold*.

Even a $5 transfer through a centralised exchange can trigger Travel Rule checks, requiring firms to collect and share identifying information.

These honeypots turn law abiding citizens into targets for hackers, they do not stop financial crime.

Then there's the 'Cold Wallet Squeeze'. Exchanges are forcing users to declare or verify ownership of self custody wallet addresses before allowing withdrawals.

This links real world identity to self custody wallets, turning Bitcoin’s open ledger into a map of ownership tied to named individuals.

Best move? Avoid centralised exchanges where possible. Use non-custodial P2P options like @vexl 😎 @Hodl Hodl @peachbitcoin.

Full article:

https://cointelegraph.com/news/australias-crypto-travel-rule-takes-effect-on-july-1-whats-changing