Fuck it! I rather die than do KYC

Hear me out chads, I think KYC undermines the goal of DeFi since it keeps the Feds one step ahead of you so they can fuck you. I say fuck them and fuck the regulations. What do you think about this?

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Don't be such a clown, regulations would definitely come onboard we just have to find our way around it.

Why is he aiming for the frontal lobe what an idiot

considering KYC and AML are mandatory or most banks, depending on the country, have you seen any bank have as many hacks and frauds as crypto, user

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>KYC and get money in
>use the money to buy an NFT from yourself and your not KYC'd taxfree wallets
>now legally you own a worthless .jpeg
>use your new wallets to participate in DeFi
>???
>taxfree PROFITS

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Based. People keep thinking that I'm shorting because I'm being realistic about the current market conditions and they don't even know that I've never provided a single piece of personal information to anyone.
retard crypto is fresh and practically poor when compared to the banking sector. banks have been building and perfecting their defenses for decades now

What don't this fags get? If there's no regulation no way the industry is going to grow beyond it's current marketcap.

What would the difference between TradFi and DeFi be then

I agree. KYC just makes shit like it is today. We need privacy in blockchain. What if i want to pay a friend or merchant? I dont want them to see my entire wallet balance. That's fucking stupid. KYC will just lead to wallet doxing on an unimaginable level.

you misspelled KFC

Do you retards know what KYC and AML is, Know Your Customer and Anti-Money laundering. Has nothing to do with making DeFi more like TradFi

So are you saying KYC would help prevent the numerous DeFi hacks?

You are the biggest clown if you say this without give a suggestion or ideas of how we are gonna bypass the regulation if it definitely come.

Right and crypto needs to follow KYC and AML practices if they want to avoid regulatory crackdowns.
It could help limit it, a least

So you fag is saying if there is regulations, traditional finance can come into DeFi and the market cap grow?

Unless you're doing something shady, you don't need to "bypass" it. KYC procedure is usually pretty simple: it collects basic personal information like name, address, SSN, etc then checks it against lists of known parties involved in criminal activity

Yes!
It would help minimise it to a very good level. So I think it's a win to DeFi space as a whole.

omg yes

Riddle me this - how the fuck do I get fiat into stables to participate in defi without doing KYC on a cex? There is no safe anonymous fiat on-ramp.

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And AML procedures also keep track of each client’s transactional behavior to see if it is shows any money laundering behaviors.

This is inevitable. TradFi recognizes their clients need now more than ever with DeFi adoption. They're going to integrate into DeFi