FATF has declared war on crypto, especially Bitcoin. Centralized exchanges need to be ditched. Bitcoin's all about privacy, not a tool for government control. It's meant to protect us from the state.
But think about it. Swiss banks are still thriving despite scandals, while Bitcoin's under constant regulatory pressure. People love centralized exchanges for their convenience, and they basically serve the government.
Let's break this down. The FATF consists of major countries, but most of them are actually crypto-friendly. With 6 out of 7 being supportive, they could be outvoted. I doubt they can just impose their will.
Agreed, but after the G20 meeting, they did mention the need for more scrutiny. It's a tug-of-war between governments and exchanges. I just hope DEXs don’t cave to those demands. Privacy matters.
What does being ‘crypto-friendly’ even mean? The U.S. and Japan have heavy regulations and licensing that restrict trading freedom. Japan even kicked privacy coins off exchanges.
Lol, good luck enforcing it. Sure, they'll crack down on centralized platforms, but there are always ways to stay anonymous with Bitcoin. It’s the average Joe who'll get hurt, not the pros.
If global restrictions hit, it'll mess up Bitcoin’s core function. It's meant to help the unbanked, who often can’t pass KYC. FATF’s stance isn't new but good luck with enforcing it.
Right. G20 leaders have committed, but implementation takes time and faces political hurdles. Plus, many countries don’t just follow FATF blindly. They’ve been dodging compliance for years.
Yeah, but this regulation might lead to a crackdown on privacy coins. It could force crypto underground. We need regulation to weed out scammers and hacks.
Most people aren’t trying to hide their money. Many businesses want to stay compliant to avoid issues. Eventually, you’ll find few places that aren’t following the rules.