Why force people to provide personal data or information to crypto entities or services to be considered legal? Are only "licensed" services the ones that will be allowed by authorities?
These are some questions that arise when, for example, the American government warns its citizens that the use of non-KYC crypto services poses a threat to legality and those who continue to use them risk losing their money and the responsible parties for the services being arrested after thorough investigation.
However, here I remind you that individual freedom comes with some form of privacy, and by giving it up by providing personal data or information, we are putting it at risk. After all, it could one day be published, hacked, and thus the individual could lose all privacy and not only that but also lose their identity.
The simple FBI alert that they are keeping an eye on non-KYC crypto businesses is a clear demonstration that they have long wanted to limit, control, or even monitor who uses cryptocurrencies. And the easiest way to do this is to suggestively encourage everyone to use crypto on platforms that are required to do KYC.
Thus, after individuals register, they can demand that the entity provide personal data of the users and have a detailed database of who does or does not use cryptocurrency services. But is this freedom? Of course not, after all, everyone has the right to choose whether they want to use KYC cryptocurrency services or not. No one should be forced or compelled to register and authenticate their data to use cryptocurrency services.
This is an abuse of power by the authorities, and people without realizing it will obey the orders, and then they will have the power to, for example, go after devs who create non-KYC products to increase privacy for those who want to remain anonymous. They have already started with the Samourai wallet, and who will they go after next? Devs of Zcash, Monero, Dash, and other privacy-focused cryptocurrency solutions that are indeed so important to the individual.
I categorically state that the attack on freedom and privacy is increasing because the government cannot control the cryptocurrency industry. They will devise a plan or even create laws that give them the power to harass and intimidate anyone who produces private products and tools for individuals.
Authorities always say that cryptocurrencies are responsible for money laundering, so they all must be KYC. But this is a lie because in fact FIAT is used more for money laundering, and they know it, but they use this trick to create panic and division among people, so many still believe that cryptocurrencies are, for example, a scam.
Both freedom and privacy are normal for the individual and must be respected. No one should be forced to provide personal information to anyone unwillingly just because authorities wish it. The use of decentralized services cannot be criminalized because entities cannot control or even have devs arrested on charges of money laundering. These are often pretexts and excuses that undermine the most basic human privacy rights.
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