The Binance Crackdown Will Be an 'Unprecedented' Bonanza for Crypto Surveillance...

[jafo]

JohnLocke said:
The question is what this will mean for the overall crypto market with all this mess with Binance! And will they survive this earthquake?
Click to expand...

To me, Binance is DEAD! I wouldn't touch Binance ever again,

...unless it's politically connected & privileged entities or individuals paying me, e.g. Blackrock, FBI, Vanguard, Schwab, Tony Blair, George Bush, Obama etc etc. I don't know what possible value I bring to any of them, but snubbing them is certainly NOT going to be good for my health and liberty. They have too many "order followers" and there is no way I can fight off thousands of men. cry&¤

My thinking goes along this way: Would I willingly send my personal/corporate documents, bank accounts, crypto addresses etc etc to the FBI/US DOJ/IRS, etc for free????

That's my answer.

PS. I can easily go through the logic of this step by step with illustrations, case laws, stare decisis, etc, but I am sure that most, if not all, here are smarter and more perspicacious than me.

 

[Konstanz]

Well they did not do proper KYC/AML for years. No wonder they are now investigated. But from what I see it's very small punishments and fines.
E-gold was closed for way much less of wrongdoing in 2009

Even now they do not do proper KYC/AML checks. I think they will eventually loose all fiat partners. Other way they would have to hire thousands of people for AML

 

[sharklasers]

Democrats are in power now and won't lose this opportunity to inflict damage on 'damned cryptocurrency'. Not that republicans love it either but at least they have been keeping appearance of being neutral.