You are viewing a single comment's thread from:
RE: Great Time to Sign up For a BitShares LTM Life Time Membership, Before KYC Becomes "Keep Your Crypto"!
Lots of useful information, thanks for that.
I'm still struggling a bit with the fact that openledger hasn't had the gateway for fiat withdrawal open for many weeks now. And the OCASH debit card is completely silent.
So my guess is they can't find any workaround for KYC and AML, but I really hope I'm wrong.
Bitshares is by far my favourite exchange and being able to go straight back and forth between fiat would be the ultimate freedom, especially when bitshares has the expected lunar rise!
I agree its still a huge barrier for non crypto people to enter this BTS galaxy... on my side i hope that both BitSpark with its Zephyr token and Arise bank will be able to offer us some FIAT bridges from the Bitshares DEX...
as for arise bank, well, those are some pretty tall claims they're making. perhaps they have an army of lobbyists on call, ready and waiting for them in Washington, in order to achieve what they seek to accomplish...
but that's actually kind of the point, the reason they can't do that is being FIAT exchangers become jurisdictional, and more easily subject to the various banking "laws of the land". So, unless you're literally meeting up with someone on a street corner to exchange fiat <--> crypto, you'll pretty much be out of luck in that regard. And, of course, you know the names "powers that be" have reserved for those who would engage in such dubious personal exchanges... 🤐
I see peer-to-peer transfers of crypto for cash with Bitshares as the ultimate protection against the problems with centralized exchanges that you describe in your post .
Lots of great information! Thanks for writing about Bitshares!