Why is KYC the main problem
of Crypto-industry?
Why Crypto is falling.
And how does it work?
Let's imagine you control the United States of America????.
You want more control and influence over your population. So, you invented "the debit car".?? and "online banking".BUT then a thing called "CRYPTO" that may destroy your plans ,Appear ...
So there, you invented
KYC...
KYC(know your customer) is becoming a new standard for all crypto exchanges.
What does KYC actually mean?
KYC- verification of your identity, with your personal documents (drive license, passport,?? etc.).
So why is KYC that bad?
First, because of your anonymity and privacy, even all these companies promise you security for all your data, this isn't secure, and the risk of robbing them exists. ??
Second, let's say you are from Russia ???? or any other country.
Your country decided to start a war,but Western society decides this is bad, so they banned all your accounts on crypto exchanges ,JUST BECAUSE OF YOUR NATIONALITY, and with KYC they can truly confirm that you are from Russia. That's what happened with Russian people. And it can happen with you,if you aren't a good boy.
In conclusion, I can say that anonymity in the near future will be something unusual in crypto-world. Be dangerous with your personal data.
But we all love happy ends,
so I'll give you one. Because of KYC, the activity of narco dealers and terrorists may slow down. ??
