The SEC is Attempting to Reclassify CryptoCurrencies as "Securities" - May lead to Americans being unable to participate on Crypto Exchanges

submitted by WarmPotato from (helplbrysavecrypto.com)

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[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (3 children)

What about buying some other crypto and trading it for XMR? I'm sure they can do that?

[–]goatmeal 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (2 children)

the problem appears when you have to submit KYC to buy the traceable crypto and then it ends up on a banned exchange. they will be able to tell that you are trying to trade it for XMR.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

What is KYC? Only XMR is untraceable?

[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Know Your Customer. Banking laws for proper taxation of customers, really.