What if governments locked up/seized exchange wallets due to KYC and taxes?

99th

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Quote from: Grim149x on February 05, 2018, 08:16:27 PM

It's possible and that's actually pretty scary as it should have a huge effect on crypto. Value will drastically decrease, in my honest opinion.

It's already decreasing at what seems to be 10% to 20% per day right now. I know that market is probably being manipulated by some whales while at the same time crashing due to all the FUD. I just hope when the dust settles we don't have exchange wallets under the watchful eye of big brother and the bankers.

Grim149x

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It's possible and that's actually pretty scary as it should have a huge effect on crypto. Value will drastically decrease, in my honest opinion.

99th

member

Activity: 196

Merit: 22

Las Vegas

Hey - just a heads up. With the intense amount of regulation talk happening now, and all the KYC registrations required in the crypto world, would it be crazy to assume that a government could seize your assets from an exchange wallet(Binance/Bitfinex/etc) due to taxes or other unpaid government debts? Remember when the US confiscated all the btc from Silk Road and the Marshall's Service auctioned them off? I have been reading a lot about the US government doing some heavy work this year in regards to taxes and crypto... No FUD, just being real and obviously concerned for many of us that could be the target of this type of problem.

Exchanges like etherdelta may prove to be more valuable in the upcoming months simply because you don't have big brother all over you (decentralized with 0 KYC requirement).

With more and more big exchanges complying with government rules and restrictions, people should just be aware of the fact that this IS a possibility.

Topic: What if governments locked up/seized exchange wallets due to KYC and taxes? (Read 74 times)