Know-Your-Customer: The Quiet Kill Switch
Briefly

KYC regulations are disguised as safeguards against fraud, but they enable unprecedented traceability of individuals' financial activities. Attaching one's identity to Bitcoin through KYC processes undermines the very autonomy that cryptocurrency is meant to provide. Once identity is linked, every transaction is recorded and can be searched, leading to a framework that supports surveillance rather than freedom. Governments use these records to monitor activities, and the integration of KYC leads to centralized control over what was designed to be decentralized currency.
KYC regulations are marketed as a hedge against money laundering and fraud. The framing is safety. The reality is traceability.
Once that link is made, every transaction becomes searchable, timestamped and admissible. This isn't a theory. It's how the system is already working.
KYC is Centralization by Design. Governments didn't need to outlaw Bitcoin; they just needed to know who's using it.
The combination of centralized exchanges, KYC records and behavioral analytics turns every bitcoin purchase into a breadcrumb trail.
Read at Bitcoin Magazine
[
|
]