EU's upcoming crypto AML regulation (TFR)

[JamesDonkey]

Ahhhh.... I knew that you secretly praise and love your only master -- Pootin. You're‍ always going on about him.... 🙂

While he doesn't even know about your existence. And even⁠ if he knew, you'd be not more important than a piece of 1mm dirt under⁤ his nail. 🙂

 

[369]

because otherwise people would search for solutions to avoid︀ their control mechanism.
And no its not from mass media but fbi reports.
And remember︁ the 98% are for bitcoin transaction

 

[JohnLocke]

It had to come that far. Some one well known around here already told the‌ mass, get out of the EU before it is too late..I fear he is right‍ ca#"!

 

[JackAlabama]

That makes even less sense.
Let the masses think they‍ are 100% anonymous (while they are not) is even better.

 

[369]

99% of people think bitcoin‍ is anonymous

But still governments doesn't care if people know it or not.What is important⁠ for them is being able to trace bitcoins and co to its owner so they⁤ can tax them

 

[Martin Everson]

Yup some will never listen to me when I have been saying since 2019 to⁠ "Get out of the EU while you still can" damn_(.

If people think such EU⁤ crypto proposals are bad for privacy and liberty then wait until EU goes cashless and⁣ introduces a CDBC in the Eurozone 😉.

The next step after that is EU wide⁢ Unexplained Wealth Orders (UWO) rules. Your gonna find out how nice it is to live︀ in an EU that can confiscate/freeze your wealth with a mouse click based on algorithms︁ smi(&%. The Russian Oligarch issue has provided the perfect excuse why peoples assets need to︂ be tracked 😉.

 

[burden]

I hope to make it before it is going all wrong in the EU⁠ - would you consider other European countries or would you say get totally out of⁤ Europe?

 

[backpacker]

Other European countries will either very soon become a member⁠ of the EU (-> Georgia, North Macedonia, Moldova, Serbia etc.) or do have an even⁤ tighter grip on their population than the EU will ever have (-> Iceland, Norway, Switzerland⁣ etc.).
So, better forget about that entire continent!

 

[burden]

it's going to be plain impossible to move out of Europe for me. I always‌ considered Cyprus and Malta as a stop but they are EU now I considered Switzerland‍ and Andorra or Ireland as an option, any thoughts?

 

[Martin Everson]

Problem with Georgia etc is they have joining EU aspirations and even EU association agreement‌ aspirations like Andorra. The EU is too big a market for them to ignore. Switzerland‍ will just follow EU rules it will not want to get blacklisted by them.

Anyway with crypto I wonder what a lot of EU holders will do once every crypto⁠ provider from centralized exchanges to hardware wallet providers like Ledger etc are forced to report⁤ peoples crypto holdings to EU for their EU residents. We are seeing what is happening⁣ with CRS now and crypto 😕.

There is slowly approaching an event horizon moment where⁢ you will not be able to escape the EU's pending crypto directives just like a︀ black hole. You will be sucked into it as an EU resident and even if︁ you try to leave you will be owing capital gains on your crypto to the︂ day you die.

 

[KDX]

Ledger? That's a joke I assume, and I could see some EUtard proposing this⁤ but, this whole crypto reporting thing aside from exchanges will be much more harder than⁣ they thought. There will be 0 possibility of them having some kind of reporting by⁢ hardware wallets. They would have to backdoor any kind of device (and install wireless networking︀ like LTE) which could be used as a BTC wallet. And there are lots of︁ them.

 

[Martin Everson]

Ledger Live has all‌ the data on your crypto portfolio i.e balance and gains remember. Would be easy for‍ authorities to press this French company to hand over IP details, holdings, gains etc of⁠ users in EU. I remember when you wanted to use exchange feature a popup used⁤ to say that they keep your IP address the first time you opened that screen.⁣

 

[KDX]

That's not hardware though. That's some kind of all-in-one exchange/online wallet/NFT marketplace⁣ thing. Pure hardware wallets don't have even the ability to report you. I don't see⁢ the point of owning a hardware wallet if you're going to use apps like that︀ anyways.

 

[Martin Everson]

Ledger Live reflects your Ledger Nano hardware wallet remember. You not used⁤ it?

 

[KDX]

No, I haven't used a Ledger hardware wallet. I use software‍ wallets if I need to use crypto. I still would be surprised if you had⁠ to use this kind of app to use your Ledger nano. Are you sure that⁤ you need that app? As in the app that needs some sort of Ledger account,⁣ KYC etc.

 

[JackAlabama]

Totally out of Europe. Take the globe (not the map,⁠ but the round thingy one) and see how many options there are.

You *can make⁤ it* in a third world hole where you can live cheaply, build your business and⁣ then you can still move later on again.

 

[JackAlabama]

"You will own nothing and be︁ happy" is the motto of the EUDSSR.

Not sure about the happy part, but the︂ first one is on track.

 

[KDX]

They want every citizen to be a robot: have 1-2 holidays a year, have⁠ an average job, pay 50% to the gov, support the current popular thing, like the⁤ same things as everyone else, make sure your opinions align with the majority, and of⁣ course, if you have nothing to hide, why not let your government see your entire⁢ private life?

That's what I think the EU is coming to.

 

[Martin Everson]

Ahh ok.‌ Well with Ledger hardware wallet you need a software interface to speak to it. Many‍ people settle of Ledgers own Ledger Live software. I am just saying I hope the⁠ company is responsible but having seen Ledger database of buyers was hacked so authorities will⁤ likely now know who owns a ledger.

https://www.ledger.com/message-ledgers-ceo-data-leak

Well for most people seeing is︀ believing unfortunately. Most people have the wrong mindset that they will have plenty of advance︁ notice before being able to escape the EU so its no big deal....lol.

Thats the︇ perfect EU citizen you describe there...lol.

 

[KDX]

I personally don't quite see the appeal of Ledger, except︀ if you don't know much about crypto and you just think hardware = secure. There's︁ probably way better hardware wallets made by smaller companies that actually value your privacy and︂ don't store any of your info. Ledger's business doesn't seem to be centered around just︃ producing wallets and ending the customer relationship there. They seem to want to build an︄ ecosystem around it and that doesn't seem very private to me... Plus, most of the︅ time, a software wallet is enough and even more private (as you can see).