In Europe, DAC8 has turned “Know Your Customer” into “Kill Your Customer.”
Today, Bull Bitcoin is officially opening the first legal front against DAC8.
We have brought a case before France...
... and to add to my previous comment :
I disagree with your manifesto. I read in it that :
"KYC is not evil in and of itself. When we get clients at Bull Bitcoin that send us a bank transfer, we want to make sure that that's not a fraudulent transfer. We want to make sure that our clients are not being defrauded. We have private interests in knowing who we're doing business with."
WRONG! KYC is evil in and of itself.
Do knife vendors have to KYC their customers? Do you think they should have to KYC their customers?
You're selling a product. You're selling bitcoin. People buy bitcoin. It's simple. No need for KYC for you, anymore than there should be a need for KYC when Walmart sells bleach.
The need to avoid fraudulent transfers should be on the banking system, not on you! If you're going to fight this, why concede from the get-go on the need and moral justification for KYC?
Even if you win that legal fight, we still lose; because we still get KYC, and the honeypot is still there. You're going about it all wrong.
I disagree with your manifesto. I read in it that :
"KYC is not evil in and of itself. When we get clients at Bull Bitcoin that send us a bank transfer, we want to make sure that that's not a fraudulent transfer. We want to make sure that our clients are not being defrauded. We have private interests in knowing who we're doing business with."
WRONG! KYC is evil in and of itself.
Do knife vendors have to KYC their customers? Do you think they should have to KYC their customers?
You're selling a product. You're selling bitcoin. People buy bitcoin. It's simple. No need for KYC for you, anymore than there should be a need for KYC when Walmart sells bleach.
The need to avoid fraudulent transfers should be on the banking system, not on you! If you're going to fight this, why concede from the get-go on the need and moral justification for KYC?
Even if you win that legal fight, we still lose; because we still get KYC, and the honeypot is still there. You're going about it all wrong.
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