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Kensho | 7 months ago (raw) | export | reply | flag 
 What the hell is happening with #EU ban on anonymous payments to unhosted wallets? In other words all non custodial wallets need to be KYC? Is that it?

#asknostr #bitcoin
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bostonwine | 7 months ago (raw) | root | parent | reply | flag 
 That’s my understanding. If you send from an exchange to your own address (or your friend’s, or a business’ address) you effectively need to provide KYC for the destination/receiver
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cacjgs | 7 months ago (raw) | root | parent | reply | flag +1 
 But how can they effectively ban a bitcoin transaction? LOL
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Kensho | 7 months ago (raw) | root | parent | reply | flag 
 It's to choke offramps and using bitcoin to buy things. It means everything you buy has to be linked to you. The horror of implementing this makes it probably impossible. But they don't need to enforce it if it just stops people using it out of fear.
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cacjgs | 7 months ago (raw) | root | parent | reply | flag 
 Yes but one can only go so far using the fear strategy. The fearless you prove that there is no reason to fear
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daum3ns | 7 months ago (raw) | root | parent | reply | flag 
 no all custodial i.e hosted services (exchanges, alby, WOS etc) need kyc.. 
and they are not allowed to transact to selfcustodial wallets.. but p2p self custodial transactions are not affected by the law.. for me it looks like they know its very hard to ban words and math  so they trying to make on and offramp as difficult as possible.. time to get everything in your own cold storage guys!