God bless Hester Peirce for even bringing this up, something that random people have been talking for few years now.
That KYC verification must go, enough is enough.

You can't say because you want to know who controls a Bitcoin address and not care about the dangers that comes with that.

Home invasion, Wrench attacks are growing up and it's looking like crypto chart 📈 ready to slowly keeps climbing.

This is the best thing that I have read online this year so far, finally someone in power sees it.

In the future hackers will prefer to look for data to go after people who holds Bitcoin,

This is not a joke, if you think it's impossible wait till Bitcoin reach 400k and counting.
The more valuable Bitcoin becomes and more it endagers your life.

KYC needs to Go.....

This I get clearly, and something that has to do with trust the model will work perfectly with the right system in place, such that another third party issuance of that screen proof ID.

Between in the end this still brings us to the same KYC thing but at a minimal level instead handing over the documents to the platform you give them to the issuing party to get the ID to verify with.

Thirdly what advantage will this have for decentralised exchanges whose operational challenges have been regulatory compliance?

The U.S. Securities and Exchange Commission's longtime ally of the crypto industry, Commissioner Hester Peirce, has set a departure date for next week, marking an end to a long era in which she sought clear rules for the sector — even during the years in which the agency refused to consider crypto regulations and pursued an array of legal actions.

Her final day is Oct. 2, according to a resignation letter she posted Friday on social media site X, which emerged even as the SEC was posting yet another piece of crypto policy work meant to clear up lingering questions on how the agency is defining tokens and its expectations for how projects are marketed.

Peirce, often known as "Crypto Mom" by digital assets insiders, pushed for years to get industry regulations during the chairmanships of Republican Jay Clayton and Democrat Gary Gensler — both of whom pursued aggressive crypto enforcement agendas. She finally got a chance to work on rules during the administration of President Donald Trump. She got started even before the arrival of current Chairman Paul Atkins, having been put in charge of the SEC's new Crypto Task Force last year.

Her crypto work included a wide range of policy statements and guidance that clarified the agency's position on various aspects of the industry, including mining, staking, memcoins and — most importantly — a series of definitions for classifying different types of crypto assets and which regulator would have dominion. More recently, the agency began proposing formal rules, beginning with one known as Regulation Crypto Assets, which set up a system for offering crypto assets without triggering stringent securities regulations.

the best they can do is stop accepting too sensitive information, especially those that have home address, electricity bills and others

If KYC has to be removed, the first person who has to do it is banking, there are billions of real identities stored in banks, banks can't be hacked, stolen or robbed, of course they can.

That's why it's important, like Bitcoin exchanges and so on, to maintain their applications to the maximum and protect users very well, so that identity data doesn't leak into the hands of hackers, Even though criminals carry out hacking actions against exchanges and so on, they must really be able to protect identity ownership through KYC with full responsibility.

KYC needs to Go.....



https://x.com/WatcherGuru/status/2103510145024069816

God bless Hester Peirce for even bringing this up, something that random people have been talking for few years now.
That KYC verification must go, enough is enough.

You can't say because you want to know who controls a Bitcoin address and not care about the dangers that comes with that.
Home invasion, Wrench attacks are growing up and it's looking like crypto chart 📈 ready to slowly keeps climbing.

This is the best thing that I have read online this year so far, finally someone in power sees it.
In the future hackers will prefer to look for data to go after people who holds Bitcoin,

This is not a joke, if you think it's impossible wait till Bitcoin reach 400k and counting.
The more valuable Bitcoin becomes and more it endagers your life.

KYC needs to Go.....

God bless Hester Peirce for even bringing this up, something that random people have been talking for few years now.
That KYC verification must go, enough is enough.

You can't say because you want to know who controls a Bitcoin address and not care about the dangers that comes with that.
Home invasion, Wrench attacks are growing up and it's looking like crypto chart 📈 ready to slowly keeps climbing.

This is the best thing that I have read online this year so far, finally someone in power sees it.
In the future hackers will prefer to look for data to go after people who holds Bitcoin,

This is not a joke, if you think it's impossible wait till Bitcoin reach 400k and counting.
The more valuable Bitcoin becomes and more it endagers your life.

KYC needs to Go.....



https://x.com/WatcherGuru/status/2103510145024069816