Altcoins Talks - Cryptocurrency Forum
Further Discussions => Economics , Sociology & Politics => Topic started by: target on December 16, 2024, 02:50:22 AM
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Because our digital IDs are important for companies to identify us in the name of regulation, it will be useful not just for regulation of companies but also for authorities to see thru the transparency to fight bad actors in the industry.
For the authorities to work on these regulations, the government will either take the data by force or ask the exchanges to sell the users data?
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They don't take them by force or anything at all, simply exchanges reports all the information including KYC, transaction volume, addresses where you withdrew on their own which is called the regulation in the first place, so you can call it as selling but for now price but in exchange the government allows the platform to operate in their country.
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Because our digital IDs are important for companies to identify us in the name of regulation, it will be useful not just for regulation of companies but also for authorities to see thru the transparency to fight bad actors in the industry.
For the authorities to work on these regulations, the government will either take the data by force or ask the exchanges to sell the users data?
Let us not be deceived, if there is any authority to fight against corruptions in the exchange, the mantle should be given to the Exchange authorities because with all services trying to keep their network clean, it would oblige them scrutinize aimlessly to figure out those bad guy in the industry which would have been be termed as such exchange being reputable while the government will only be acting monopoly of given access to some illegalities enhancement in supporting individuals who are in common understanding connection amongst them.
The is just to say that... The government will be biased to carry on a transparent take of this.
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For the authorities to work on these regulations, the government will either take the data by force or ask the exchanges to sell the users data?
when we enter any website isn't there any agreement we have to agree on in terms of our data being shared? we should read those carefully because they could be saying right in front of our face that they could sell our data and we are just nodding our heads foolishly
i do not think the government could, should nor would take our data with no any real reason like to investigate and whatnot and the platform should not also be able to sell our data without us giving consent
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For the authorities to work on these regulations, the government will either take the data by force or ask the exchanges to sell the users data?
when we enter any website isn't there any agreement we have to agree on in terms of our data being shared? we should read those carefully because they could be saying right in front of our face that they could sell our data and we are just nodding our heads foolishly
i do not think the government could, should nor would take our data with no any real reason like to investigate and whatnot and the platform should not also be able to sell our data without us giving consent
FTX was once supported by Gensler where sth CEO had been donating billions to the Democratic party, when FTX fell, there were rumors that the data were taken by authorities for investigation. And then the penalty for the CEO was just a tap on his wrist.
I was just thinking of Roger Vers interview with Tucker where he said, BTC is used to see thru those people investing and hiding their wealth thru crypto.
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Because our digital IDs are important for companies to identify us in the name of regulation, it will be useful not just for regulation of companies but also for authorities to see thru the transparency to fight bad actors in the industry.
For the authorities to work on these regulations, the government will either take the data by force or ask the exchanges to sell the users data?
Isn't this already in full swing? The government requested centralized exchanges to do know your customers which is the conventional way traditional banks recognize their customers, this is how the government can easily pick a person that did money laundering, fraudulent transactions and other crimes related to crypto and as long as they make money from their citizens, they will have to comply.
This as what Binance failed to do in their early days and because of that, CZ was arrested and jail and was fine $4bn for not doing what US government instructer them.
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Because our digital IDs are important for companies to identify us in the name of regulation, it will be useful not just for regulation of companies but also for authorities to see thru the transparency to fight bad actors in the industry.
For the authorities to work on these regulations, the government will either take the data by force or ask the exchanges to sell the users data?
Th government won't force them, it's like a rule for them to operate. They don't just pass on any data to the government but those of user they find their activities suspicious. Again they he!p the government in fighting potential crimes like scandals where a huge pool of money was stolen and government links the last transaction to the exchanges, they simply give the kyc information to the government...
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Few years ago, cexes didn't require any kyc, they would provide all their services with just email and password, but things have changed and now they require kyc because government regulations forced them to do so, so of course governments will be getting users data.
This is why I prefer dexes because there is no personal info involved — no data given, no data passed elsewhere.
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Maybe data are only needed when there is a suspicious transaction especially in local exchanges due to the fact that they are compliant to the anti money laundering law which is implemented by the government so yeah they definitely sell our data.
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Maybe data are only needed when there is a suspicious transaction especially in local exchanges due to the fact that they are compliant to the anti money laundering law which is implemented by the government so yeah they definitely sell our data.
its possible that they will only request the data if there are transactions they find suspicious but this is just what is happening today and few decades ago. things have changed already because the authorities now are not going to wait for crime to happen, they are to prevent crime. this is the reason for the social credit and they need a data base to identify faces through the cameras they install in every corner of the cities.
cameras are going to scan faces and if they see you, all your data will appear on the screen, scrutinize details and alert authorities what your wallets is probbly identified as one of the wallets that received funds from a criminal.
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It will be a great business and owners would get rich with that ;D Anyway, there are already laws in place per country that compromises our privacy that's why Governments do not need to buy those information from exchanges. All they need is to build up a case and get court orders to access and have a copy of those data.
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Because our digital IDs are important for companies to identify us in the name of regulation, it will be useful not just for regulation of companies but also for authorities to see thru the transparency to fight bad actors in the industry.
For the authorities to work on these regulations, the government will either take the data by force or ask the exchanges to sell the users data?
I think for the sake of transparency and even for the sake of the economic crime's not to be committed by criminal minded individuals not to use some of these exchanges to commit and perpetrate crime I don't really see anything wrong for these exchange company's to give out the date of users to government and law enforcement agencies to make sure that everyone is protected and safe using these exchanges
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Because our digital IDs are important for companies to identify us in the name of regulation, it will be useful not just for regulation of companies but also for authorities to see thru the transparency to fight bad actors in the industry.
For the authorities to work on these regulations, the government will either take the data by force or ask the exchanges to sell the users data?
If we say that these centralized institutions are not going to be selling our data to government or many other third party and they do, what are we going to do, even when we know, there is nothing we can do to make us safe from them, all we could do is by being mindful on what we are doing and how we could possibly avoid as many of them going for a decentralized one, except we don't mind.