/biz/ - Business & Finance

If this thread goes on long enough, here are some participants we can expect to see:
>mentally ill seething retard, used to larp as pajeet, now spams for reporting to regulators, supposedly named Jack
>Cheqd Wagie who posts DID general threads and hates Everest for having temporary alpha features
>based anons who understand regulation and also make occasional OC, there like 3 or 4 of these guys, 1 or 2 of them are very patient, and another rightfully calls cheqd wagie a faggot, all are based

EU passed a bill requiring KYC/AML + Identity Verification for all payments to crypto services over 1000 Euro:
https://www.coindesk.com/policy/2023/03/27/eu-lawmakers-to-vote-on-limited-ban-on-self-hosted-crypto-payments/
>Under the current proposal, traders would be forbidden from making or accepting anonymous crypto transfers over 1,000 euros (US$1,080)
> If the customer's identity can be verified or if a regulated crypto provider is involved, the transaction would be allowed.
>Crypto transfers among private individuals – such as large payments between two friends – would still be allowed. (Just be careful not to be friends with any arms traders)

This is a preliminary before MiCA is passed later this month, and earlier last month the Data Act was passed making all of these laws apply to Smart Contracts + DeFi.

Everest is the ONLY provider that makes meeting these requirements available as an embeddable service for others. In short term most of the industry will need to implement Everest.
>"But shill there are 100s of KYC providers. LMAO even"
Identity verification is required. These KYC providers don't match the user to their Identification, honeypot for fraud. Everest's biometric wallet creation limits to 1 per user & matches the user's face to their ID.
>"Le X DID can do something like that"
Great, are they licensed to provide KYC globally? No they arent. Banking institutes wont accept the risk of a bad KYC from a random provider. Everest is certified to provide via its MFSA license, Le X DID can meet standards by partnering with Everest.
>"Dapps will never have to comply with this they are anonymous!"
You think the regulators don't know where the developers live? Tornado Cash was ripped apart with Devs tossed in jail within hours. The Data Act was passed, they fall under these rules.

Everest has already won the regulation battle before the battle was fought.

Like it or hate, Everest will set the precedent and will be everywhere.
Let me ask you a question anon, ever wonder where all the OG's went?