[2018-07-06] Israel Bitcoin Exchange Agrees to Share Customer Info with Tax Auth

[BitcoinArsenal]

Under the terms of the agreement, Israeli cryptocurrency exchange Bits of Gold will provide information of clients who have made transactions exceeding $50,000 over the last 12 months to the Israel Tax Authority, local publication Calcalist reports citing sources familiar with the agreement.
Full article on CCN

[darkangel11]

Wise people used to say that the weakest point of BTC are exchanges. You can't do without them, at least in the early stage, because you have to redistribute coins somehow, but using them not only carries a risk of losing your coins permanently, but also of losing your privacy, wealth and possibly freedom.
If only people stopped using centralized exchanges....

[richardsNY]

If only people stopped using centralized exchanges....

People are willing to sacrifice their privacy for gains, that we have definitely seen in the last 12 months. It reached a lowest point this year because people are so focused on their gains, that they walk through the verification requirements set up by lousy ICO's. If people don't have problems handing their precious information over to a bunch of con artists, they definitely won't mind letting an exchange know everything about them. People are too stupid to realize that their information is very likely being stored on servers for ever, and it may even work against them if they are found breaking the law in any way....

[vit05]

The problem with decentralized exchanges is the difficulty of turning fiat into a digital asset. It takes a lot of trust in someone. If someone solves this problem in the exchange between fiat-p2p, we could have a much greater freedom.

[squatter]

Wise people used to say that the weakest point of BTC are exchanges. You can't do without them, at least in the early stage, because you have to redistribute coins somehow, but using them not only carries a risk of losing your coins permanently, but also of losing your privacy, wealth and possibly freedom.
If only people stopped using centralized exchanges....

People in the states have been getting arrested for years for trading P2P via Localbitcoins without MSB licenses or implementing KYC.

And decentralized exchanges simply can't have fiat money exchange -- it's impossible. Maybe stablecoins, but those just outsource third party trust to a different party. And that third party will be subject to all the compliance and banking woes that plague current exchanges (see Tether).

Centralized exchanges aren't going anywhere.

[stompix]

Wise people used to say that the weakest point of BTC are exchanges. You can't do without them, at least in the early stage, because you have to redistribute coins somehow, but using them not only carries a risk of losing your coins permanently, but also of losing your privacy, wealth and possibly freedom.
If only people stopped using centralized exchanges....

Without exchanges to which you can simply wire money or request withdrawals with a click BTC would not be here and crypto usage with be a hundred times lower.

Nobody is going to use a coin if you need each time to search for a vendor on a shady platform, compare the prices, research the guy reputation and then always live with the fear that he has paid you with a fake account and you risk getting a chargeback.

Exchanges are needed and people like them how they are, otherwise, you would be seeing thousands of transactions on other platforms, but nobody cares about them in reality. I consider even LB a pain in the ass to deal with because of the lower prices and only traded there if I needed funds really fast.