Sometimes I'm glad I'm not American. What a nasty government. But then again, Canada, EU most of G7, etc. Just follow behind America, so what difference does it make?

Part of me is all about a KYC safe space for crypto. Let's call it the green zone. Every wallet is registered, etc. banks and deposits are insured and taxes...taxes glaore.

However, the clinch is, there needs to be the private opaque grey zone area and the black area, otherwise, it's gonna suck.

In anycase, the dystopia is coming, resistance is futile and it's probably best not be branded a trouble maker.

I pay all my taxes, don't really have anything to hide, follow the law to a t, so I guess I don't have so much to worry about.

No one rules where none obey.

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Honestly, this is probably the most terrifying development in crypto regulations since the government decided we were worth paying attention to, but it also isn't unexpected.  People have been telling me for as long as I can remember that the government is developing all of this specialized software to monitor and track blockchains, which maybe they are, but it really doesn't make that much sense to me when exchanges are the obvious weak point when it comes to peacefully carrying out our business without their interference.

KYC was no surprise when it started becoming the norm with the U.S. exchanges, so people started using things like Binance, who of course got pressured into not serving U.S. customers, and at this point I think anyone heavily involved and invested into crypto understands on some level the nature of the game we're playing here in creating an alternative to the legacy monetary system.

The government derives all of its power from the ability to print money and use violence against.  As long as they have a monopoly on those two abilities they have nothing to really fear from us aside from a French Revolution, but realistically that's not going to happen with the level of indoctrination people are subjected to throughout childhood.

People are going to have to get a lot smarter in how they handle their affairs or "pay the man."  Perhaps even both to some extent as there's likely already enough of a data trail on most people to ever dream of not being on the radar at some level.  Who knows what the future holds, but they were never going to let us successfully do this whole crypto thing without some serious resistance.

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As a personal opinion, I want to say that there is no place that is safe or can't be hacked, even those big corporations that claim to be impenetrable suffer loss or leakage of information, so we can't trust anyone.

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it's ironic that governments and certain people trying to control us in that aspect as well, while at the same time many governments and groups are investing into cryptos

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This is a really concerning topic. Like the points you've raised above there isn't the same level of protection in cryptocurrancy as there is with banks. Nothing will stop someone searching for high amounts of crypto and then attending the person's property and robbing them. 

In Australia there are limits to the amount of public available information about someone's money. I.e. rich elites in Australia have their assets hidden from public knowledge. Their excuse was that if people knew how much money they had, they would be at risk of abduction and extortion. 

That same risk applies to the lower end, let's be honest. Crypto saw a huge boom many years ago now. A time when many of us missed out. So the majority of people aren't millionaire or billionaires. But possibly a there would be people with thousands to 100s of thousands. Even if its just investment. 

Having publicly visible wallets and then personal information available makes those people a risk. 

There are no safety mechanisms. If someone is robbed at an ATM there are cameras and if you enter your pin number backwards triggers an emergency response. 

Nothing will stop or prevent someone from breaking into your home and forcing you to transfer your crypto. 

Bad laws. 

https://twitter.com/itsjustmarky/status/1342025035456901122

https://twitter.com/Bhattg18/status/1342025914222141441

https://twitter.com/KingSofa3/status/1342554357959561216

Her booty and that weeny lil wrench tho.. hahaha. 

Also, the regulation will never take off in any meaningful way, even if they did limit it US side, many other gaps will exist to fill the holes for on and off boarding. 

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The government naturally wants to control. This reminds me of when there were constant attempts at taking away internet freedoms and it seems that the FCC managed to be in a position that they are comfortable with (for now). It was the same here in Europe, and I think they were less successful. But there are always more attempts...

With crpytos it's just the same. I talked with a person working in the banking industry the other day and he viewed (and so did his colleagues) bitcoin and other cryptos as being part of the dark web (which no doubt they are also used there). But he didn't understand the broader meaning of crpytos or why ultimately they can bring autonomy and wealth to individuals. The whole idea of not being in control of something is a foreign concept to them and should be therefore thwarted at every level.

As long as this is the most dominant opinion at the regulatory level, we are going to have a hard time. But I don't think it's a lost cause, as change can always take place.

Just discovered haveibeenpwnd thanks to antop...How easy is it to do a sim-swap?  This ledger thing has me a little uneasy...

Yet another attempt by Americans to call themselves the "best" nation in the world.

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