oracle2021

Crypto-to-crypto trades aren’t too bad right now, especially with the no-KYC exchanges still around. But fiat trades? That’s a mess.

Yeah, I feel you. But there are still some decent non-KYC exchanges out there. I doubt they'll last long without being forced into KYC, tho.

Got it. But relying on legal channels means you have KYC info ready, right? Otherwise, good luck proving you lost anything. I tend to avoid KYC exchanges, so I don’t see a need for local ones if they’re just as strict.

Why bother with a local exchange? Can’t you just trade on any CEX worldwide if it’s reputable? Are you saying you need local ones to cash out to fiat?

If memory serves, the US pushed for info after the 2008 crisis, pressuring Swiss banks to cough up details about American clients. Guess the pressure’s never really let up since then.

For real, the days of Swiss banking secrecy are long gone. Now they just hand over personal info to anyone asking nicely. Not cool.

Yeah but controlling everyone is costly. They only need to monitor specific groups.

EU regulations are going to crush crypto. They just can’t handle innovation. It's sad to think about.

For real. Bitcoin was never designed as a privacy coin. It’s a public ledger, not what people think it is.

MiCA will kill privacy for users, not just businesses. All service providers will have to do KYC, which stinks. It’s not just about big sums either.

Portugal has to follow the EU’s MiCa laws. Check social media for more specific info. I think Russia has the most free market now since they don’t really have regulations yet.

In some cities, you might be able to withdraw cash without KYC from ATMs. But it’s not foolproof, is it?

Does anyone else have trouble viewing the images in that post? Just keeps showing errors.

Exactly. Italy’s tax for crypto gains is high but it varies so much across Europe. You gotta know your local laws.