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RE: KYC and AML are Good - Yum
While I am personally uncomfortable with KYC given data breaches, it is currently a legal requirement and I understand why. Because of this, I choose to comply, because I want crypto to succeed, and I know it becomes much more challenging if it alienates governments.
Wow! @bdempsey, you've identified a key issue that impacts more than just cryptocurriencies, data breach. Within the last few years I've personally experienced several data breaches and, in cooperation with my banks, have had to take actions.
Perhaps there needs to be even more punitive damages towards companies that are negligent in maintaining data. Having to go through a lawsuit is so time consuming.
Appreciate your adding to the post. Very good call out.