some other day and today as well about people shitting on KYC
because people do not want the Tax agency or the government to know who each account belongs to
The problem is companies usually keep everyone’s KYC info on a centralized database . When they get hacked , everyone’s data is taken. We have to trust the company with our info which they show to not handle well
if the government knows what account you're using why does it matter tho?
the government can't know unless they are fortune tellers, or collaborate with exchanges that use KYC
okay then why is it bad that the exchange knows this info? except data leaks I guess
Uhh why would anyone be pro kyc? Its basically the shittiest thing that happened in finance for regular people
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