Will Liquid Users Be Subject to KYC/AML?
Being a centralized blockchain developed and controlled by one company it seems to me Liquid will have to implement KYC/AML of some kind. With everything centralized and not P2P all the bitcoin <---> Liquid conversions will be an easy target for government regulations. If it doesn't already have it implemented then Blockstream will surely be forced to implement KYC/AML on Liquid or be subject to heavy fines. Yes AML covers crypto not just fiat. Anywhere there is a 3rd party involved.
Get ready to show those papers for every transaction if you use Liquid. Probably if you use LN at some point too.
This post was upvoted by @steemybot, Send at least 0.01 STEEM or SBD and get an upvote. Join my discord server for free weighted upvoting for each post, just put the command !upvote before the web address of the post and you will get a free upvote within 2 mins.
@steemybot our mission is to support high quality posts which will raise the value of the STEEM Blockchain.
Congratulations @fubar-bdhr! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word
STOPDo not miss the last post from @steemitboard: