Alert on Cryptocurrency Money Services Businesses USA

zasad@

legendary

Activity: 1932

Merit: 4602

Buy on Amazon with Crypto

Quote from: pakhitheboss on May 01, 2024, 09:59:08 AM

Quote from: zasad@ on May 01, 2024, 09:22:25 AM

Soon there will be no non-custodial services and wallets left in the United States.

Soon, all decentralized exchanges (DEX) will likely be required to verify the origin of their users' wallets and request that the wallet owners undergo a Know Your Customer (KYC) process. This trend is expected to spread globally, with G20 countries following the lead of the United States. Already Trump has publically advocated that he will punish countries that stop using USD for global transactions. They will do anything to control the world and they will do anything to stop Bitcoin and other cryptocurrencies from dominating their USD.

First, Trump needs to win the election, and he is not leading the polls yet. Further practice shows that the United States can successfully influence small countries, but they cannot influence such large countries as China, India, Russia, whose population is more than half of the world's population (or almost half).
And the resources of the United States are very limited, because the country has a large national debt, for which there are no solutions and many of its own internal problems.

yhiaali3

legendary

Activity: 1848

Merit: 1982

Fully Regulated Crypto Casino

Quote from: pakhitheboss on May 01, 2024, 09:59:08 AM

Quote from: zasad@ on May 01, 2024, 09:22:25 AM

Soon there will be no non-custodial services and wallets left in the United States.

Soon, all decentralized exchanges (DEX) will likely be required to verify the origin of their users' wallets and request that the wallet owners undergo a Know Your Customer (KYC) process. This trend is expected to spread globally, with G20 countries following the lead of the United States. Already Trump has publically advocated that he will punish countries that stop using USD for global transactions. They will do anything to control the world and they will do anything to stop Bitcoin and other cryptocurrencies from dominating their USD.

Soon the entire crypto space will be under the control of the United States. All third-party services that do not adhere to American standards will be closed, and Europe and all countries will certainly follow the example of the United States, either voluntarily or out of fear of American sanctions.

Although Trump made good statements about Bitcoin a while ago, in reality, if he wins the presidential elections, he will impose more strict laws. The United States will never allow anything to escape its control, whether they are individuals or countries.

Poker Player

legendary

Activity: 1372

Merit: 2017

Quote from: Fiatless on May 01, 2024, 02:54:50 PM

Quote from: zasad@ on May 01, 2024, 09:22:25 AM

A few simple steps can prevent unintentional use of non-compliant services. For example, avoid cryptocurrency money transmitting services that do not collect know your customer (KYC) information from customers when required."

They are gradually reorienting the people to believe that decentralized platforms are evil and should be avoided. Meanwhile, the government is the real problem that wants to control the financial dealings of everybody in the US. In a few years, many people in the US will know nothing about privacy and anonymity.

Well, it's a bummer and I've had discussions in this very section saying that's where we were headed. If this happens in the USA, which has always been known for defending privacy more than Europe, I take it for granted that these measures will be copied by the EU if they do not go further. Besides, this kind of measures are being taken at the same time that the launch of the CBDCs is being developed. I know some retards who will willingly use them saying they have nothing to hide.

Fiatless

hero member

Activity: 574

Merit: 554

Leading Crypto Sports Betting & Casino Platform

Quote from: zasad@ on May 01, 2024, 09:22:25 AM

A few simple steps can prevent unintentional use of non-compliant services. For example, avoid cryptocurrency money transmitting services that do not collect know your customer (KYC) information from customers when required."

They are gradually reorienting the people to believe that decentralized platforms are evil and should be avoided. Meanwhile, the government is the real problem that wants to control the financial dealings of everybody in the US. In a few years, many people in the US will know nothing about privacy and anonymity.

Quote

Soon there will be no non-custodial services and wallets left in the United States.

And this might force crypto users in the US to start seeking for means to bypass these restrictions. It might give rise to the use of illegal privacy tools just to improve anonymity. Overregulation can also decrease the growth of the vibrant crypto industry in the US. Many investors might decide to avoid the US market.

pakhitheboss

hero member

Activity: 2156

Merit: 803

Top Crypto Casino

Quote from: zasad@ on May 01, 2024, 09:22:25 AM

Soon there will be no non-custodial services and wallets left in the United States.

Soon, all decentralized exchanges (DEX) will likely be required to verify the origin of their users' wallets and request that the wallet owners undergo a Know Your Customer (KYC) process. This trend is expected to spread globally, with G20 countries following the lead of the United States. Already Trump has publically advocated that he will punish countries that stop using USD for global transactions. They will do anything to control the world and they will do anything to stop Bitcoin and other cryptocurrencies from dominating their USD.

zasad@

legendary

Activity: 1932

Merit: 4602

Buy on Amazon with Crypto

https://www.ic3.gov/Media/Y2024/PSA240425
Alert Number: I-042524-PSA
April 25, 2024
"Alert on Cryptocurrency Money Services Businesses
The FBI warns Americans against using cryptocurrency money transmitting services that are not registered as Money Services Businesses (MSB) according to United States federal law (31 U.S.C. § 5330; 31 CFR §§ 1010; 1022) and do not adhere to anti-money laundering requirements. A few simple steps can prevent unintentional use of non-compliant services. For example, avoid cryptocurrency money transmitting services that do not collect know your customer (KYC) information from customers when required."

https://twitter.com/PhoenixWallet/status/1783878658014249027

"On May 3rd, 2024,
@PhoenixWallet
will be removed from US app stores.

Users from the US should empty their wallet:
- Settings > Close channels (Android)
- Settings > Drain wallet (iOS)

We highly recommend *not force-closing* channels, as on-chain fees could be significant."

___
Soon there will be no non-custodial services and wallets left in the United States.

Topic: Alert on Cryptocurrency Money Services Businesses USA (Read 150 times)