what if the government authorities request for the information of every member of ETN which they gave because of KYC, will ETN company give it ?
I am not sure about ETN, but there is and in developing tools for government and cyber defense that easily monitoring and mapping this area of the internett. It is in many coins easier and more transparent for government to track cryptos then normal money. I don’t know about ETN, but i expect they will give info on request.
ETN is probably in the better position than other cryptos as far as government scrutiny…if governments crack down, they’ll most likely target cryptos that don’t follow regulations first. just my guess.
Yes, you are correct. We all expected the huge pressure on the cryptocurrency in general. KYC, yes or no, does not matter. The blockchain technology and cryptocurrency must stay decentralized philosophy. And that’s all that matters. At least for me.
I would submit KYC info with the assumption that your government will have access to the information. Since it’s coming hand in hand with AML (Anti Money Laundering), the whole point is that a users government can ensure you are using Electroneum in a legal manner.
This is a good thing for the currency because it opens up so many doors.
If you want to hide some assets though there are currencies (like Monero or Verge) which would be of better use to you.