Topic: Another no privacy from Russian Bankers - page 2. (Read 216 times)

You are getting confused in the same way that user franky1 got confused in the EU thread I opened about this:

Goodbye, privacy, goodbye, it was nice while it lasted.

There was a second vote on a second draft in which basically they want to KYC all transactions going through the EU, even $1 or 1 euro if you prefer and this vote on the second draft was passed. There are still steps to go before it is approved but if it is approved in its initial spirit it will be an attack on privacy and sets an example to the rest of the world, as we see now in the example of Russia.

If measures like this become generalized around the world, you will still be able to make P2P trades with an individual to sell you a product or service but more than 99% of the transactions will become KYC, forcing non-custodial (centralized) wallets to KYC their customers and blacklisting those who do not collaborate.

This is not possible, except if they can achieve to ban cryptocurrency entirely in the country, remember how the EU recently make some moves as well to ban bitcoin and its corresponding PoW because of energy consumption among other financial laundering accusations but it was later voted against, the thing is that governments are looking for every possible means to decentralized cryptocurrency (bitcoin) especially and considering the rate of cryptocurrency growth in Russia, many will go against such.

I also understand how many financial illicit activities were reportedly  traced to Russian citizens in cryptocurrency and the scam rate  cannot be overemphasized there, i can recall of several scenes they have launched attacked this year on individuals and coperate websites but nevertheless, using centralized exchanges will not be the solution because they can as well attack those exchanges and that will worsen the situation because this time it will involve many users, individuals should be responsible and be in custody of of their coins, any attack on it they bear responsibility due to the way they handle their assets security.


I realized their intention was to regulate the sector fully using centralized exchanges, possibly derive some good income from tax they will levied on those exchanges so they can easily trace any user's data thereby politicizing crypto and laying embargo on accounts just as they do in fiat which is not possible here in crypto, or possibly they want to generate tax on course over all cryptocurrency entities after considering the booming rate in the country thereby serving as a means to byepass sanction which will still not work in this regard.

I use a transactor for this, it is in Russian

https://iz.ru/1321398/evgenii-kuznetcov/delenie-na-kasty-za-khranenie-kripty-vne-birzh-predlagaiut-ugolovnoe-nakazanie


This will be the end of privacy in Russia for crypto users, if this go as planned by the Russia bankers which consists of Russia banks association, there will be no privacy again, anyone that is having cryptocurrencies will have it on centralize exchange or its wallet address should be reported and known. This is not different from Address Ownership Proof Protocol (AOPP), it is the same thing and it is the threat crypto users are facing. Is it not better for government to stay out of crypto a half way than to legalize it, making privacy not to be possible and begin excessive taxes like the 30% capital gain tax in India. The government are turning people to be the prisoner of their own money which the government can know about. Governments are people, the regulators are people, criminals can be found anywhere, not written on the forehead. There are wolves, lions, snake and other salvages in sheep's clothing, the people that can cause threat by knowing the bitcoin address of people. AOPP will later be a threat to bitcoin and altcoin users.

About the war in Russia, I will leave it out of this, what I am thinking is that if this happen in Russia, there is more tendency that another country will adopt AOPP,  the privacy and safety threat of tomorrow.