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Les Greys
@les
F.I. are mandated to do OFAC checks, ensuring txns are not approved to designated SDNs. Technically, nothin changes if NOT using regulated/cen FI (incld Coinbase). Regulation wise, any address that interacts with said SDNs may be subject to the wrath of US govn't.
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Les Greys
@les
IMO, this is just setting the stages for future regulation of the crypto space within regulatory frameworks.
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Les Greys
@les
In relation to wallets that have interacted or currently hold the assets will likely go through a funneling process of KYC and EDD (enhanced due diligence) to ensure the funds are not associated with money laundering activities. "Amnesty/transition period" based on FI exp.
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Ian Place
@ians-place
I mean sure you can interact with tornado in a decentralized manner but you then run the risk of legal problems. Interacting with OFAC SDNs is something I would highly suggest no one ever does lol
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Greg
@greg
nothing changes if not using ceFi, but without privacy tools like mixers it feels extremely difficult to use crypto without ceFi. Only way seems to be get paid in crypto and never move a single dollar to a bank, which feels like a tiny minority. But I could be underestimating
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