[2016-05-27] The Man Who Wrote the Book on Bitcoin Calls KYC Dangerous

[LiteCoinGuy]

The Man Who Wrote the Book on Bitcoin Calls ‘Know Your Customer’ Dangerous

The USA PATRIOT Act required that all banks in the United States verify the identities of their depositors, in order to undermine the ability of terrorists to use our financial system. So it’s ironic that Andreas Antonopoulos called the practice “dangerous” in a YouTube post that went up recently. The concept has come to be known as “know your customer,” or “KYC.” It’s bandied about a lot at fintech and bitcoin gatherings.

http://observer.com/2016/05/andreas-antonopoulos-kyc-bitcoin/