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KYC? No, thanks | KYCNOT.me Blog (blog.kycnot.me)

submitted 1 year ago* (last edited 1 year ago) by [email protected] to c/[email protected]

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exchanges may randomly use this to freeze and block funds from users, claiming these were "flagged" […]. You are left hostage to their arbitrary decision […]. If you choose to sidestep their invasive process, they might just hold onto your funds indefinitely.

The criminals are using stolen identities from companies that gathered them thanks to these very same regulations that were supposed to combat them.

KYC does not protect individuals; rather, it's a threat to our privacy, freedom, security and integrity.

For individuals in areas with poor record-keeping, […] homeless or transient, obtaining these documents can be challenging, if not impossible.

PS: Spanish speakers: KYC? NO PARA MÍ

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[–] [email protected] 5 points 1 year ago* (last edited 1 year ago)

The problem is we have a tyrannical state defining illicit. Just because someone makes deceleration about something does not make it so.

Crimes need to have a victim otherwise there is no crime regardless of what someone proclaims.

KYC is put in place so the ruling elite can feed their databases regarding most financial activity so they can use that info. to rig the system and increase their wealth and power.