PeachBitcoin.com | P2P Bitcoin Exchange 🍑 #kycfree

[examplens]

Btw, now a chatbot on the website to guide new Bitcoiners and new peer2peer stackers. 🍑

I don't like talking to bots at all, but I did some testing and asked a few questions to chatbot, and I think you seriously need to improve it.
On most of the questions I asked there was no answer at all, three dots appear but no text comes out of it.

Automated chatbot support is one of the worst ideas in that segment. I guess the idea is that users don't have to wait long for a support response, but I haven't received a satisfactory response from the bot anywhere. A pretty useless function, it's actually just active navigation through the FAQ.

[paid2]

I wish a happy new year to all Peach users! 🍑

2025 is now here (time flies..  ), and with it its share of new regulations to come (at least in EU) ; I'm glad to be far from this stress by using P2P solutions!

[joker_josue]

I wish a happy new year to all Peach users! 🍑

2025 is now here (time flies..  ), and with it its share of new regulations to come (at least in EU) ; I'm glad to be far from this stress by using P2P solutions!

That's why we have Peach. 

These rules end up affecting large exchanges more than users.

Either way, it's best to use Peach. 

[icopress]

2025 is now here (time flies..  ), and with it its share of new regulations to come (at least in EU) ; I'm glad to be far from this stress by using P2P solutions!

Man, could you share some details?

[joker_josue]

2025 is now here (time flies..  ), and with it its share of new regulations to come (at least in EU) ; I'm glad to be far from this stress by using P2P solutions!

Man, could you share some details?

From January 1, 2025, the MiCA regulation comes into force in all European Union countries. Some countries may not have made all the adjustments yet, but generally speaking, companies in the crypto sector are obliged to follow these regulations.

You can see some more details here: https://www.globalgovernmentfintech.com/eu-crypto-regulation-mica-fully-into-force/

[paid2]

2025 is now here (time flies..  ), and with it its share of new regulations to come (at least in EU) ; I'm glad to be far from this stress by using P2P solutions!

Man, could you share some details?

From January 1, 2025, the MiCA regulation comes into force in all European Union countries. Some countries may not have made all the adjustments yet, but generally speaking, companies in the crypto sector are obliged to follow these regulations.

You can see some more details here: https://www.globalgovernmentfintech.com/eu-crypto-regulation-mica-fully-into-force/

Yeah, a part of the MiCA regulation is more and more applied by some big CEXs the "EU travel rule" (aka you need to sign/declare ownership of non-custodial addresses you're using), for example Kraken:

I received an email from Kraken:

Wallet Verification for deposits from private wallets: If your private wallet deposit or withdrawal exceeds €1,000 in value, or if you’re using a new wallet address, you’ll be prompted to verify your wallet ownership.
~
Self-Certification: Verify ownership with a simple one-click process and a quick 2FA security check.

Satoshi Test: Send a small transaction from your wallet to confirm ownership. We’ll guide you every step of the way.

So EU wants to force addresse reuse and create a nice big database of addresses and owners?

The MiCA regulations are being applied in various stages. Its' more "seriously" applied since a few months (if we talk of stablecoins since last June if I am correct, even if it's becoming worst now), but will accelerate in 2025.

If you're motivated, you can read more here: https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32023R1114

[NotATether]

Yeah, a part of the MiCA regulation is more and more applied by some big CEXs the "EU travel rule" (aka you need to sign/declare ownership of non-custodial addresses you're using), for example Kraken:

I received an email from Kraken:

Wallet Verification for deposits from private wallets: If your private wallet deposit or withdrawal exceeds €1,000 in value, or if you’re using a new wallet address, you’ll be prompted to verify your wallet ownership.
~
Self-Certification: Verify ownership with a simple one-click process and a quick 2FA security check.

Satoshi Test: Send a small transaction from your wallet to confirm ownership. We’ll guide you every step of the way.

So EU wants to force addresse reuse and create a nice big database of addresses and owners?

WTF?

So they're saying they want to know ALL addresses I own that have a balance?

What gives them the right to know this information? It's not like people are selling coins to withdraw to a bank. We already have KYC for that.

At least Peach bitcoin and other peer to peer marketplaces in EU are not affected by this; and indeed you can find many traders there.

[LoyceV]

So they're saying they want to know ALL addresses I own that have a balance?

That's not how I read that email, but I wouldn't be surprised if that's the final goal next step. I assume the only reason taxes don't ask that yet is because the tax agency can't handle it in their (ancient) systems.

What gives them the right to know this information? It's not like people are selling coins to withdraw to a bank. We already have KYC for that.

It just doesn't make sense. Especially the "send a small transaction to confirm ownership" part: every transaction I sign confirms I own that address. Those small transactions only make sense with banks, when a phone service provider asks to pay €0.01 to confirm ownership of the bank account for auto debit. None of that applies to crypto.

[joker_josue]

So they're saying they want to know ALL addresses I own that have a balance?

That's not how I read that email, but I wouldn't be surprised if that's the final goal next step. I assume the only reason taxes don't ask that yet is because the tax agency can't handle it in their (ancient) systems.

What gives them the right to know this information? It's not like people are selling coins to withdraw to a bank. We already have KYC for that.

It just doesn't make sense. Especially the "send a small transaction to confirm ownership" part: every transaction I sign confirms I own that address. Those small transactions only make sense with banks, when a phone service provider asks to pay €0.01 to confirm ownership of the bank account for auto debit. None of that applies to crypto.

The law was created to combat money laundering or the financing of crime. Basically, they want exchanges to record who it is from, and all the addresses they receive/send coins from.

In other words, you want to send money to an exchange, you have to say whose address it is. If you want to take money from the exchange, you have to say whose address it is.

They want to create a connection between people and addresses. This way, they can track the money more easily.

Honestly, for Europeans, if you want to guarantee privacy, you have to stop using exchanges that operate in the EU.

[LoyceV]

In other words, you want to send money to an exchange, you have to say whose address it is. If you want to take money from the exchange, you have to say whose address it is.

They want to create a connection between people and addresses. This way, they can track the money more easily.

I get that, but it's dumb Even if I receive money from someone else directly to an exchange, I can still say the sending address is mine. But much more likely: any address I use to send funds from is mine, and any address I withdraw to is also mine.

Honestly, for Europeans, if you want to guarantee privacy, you have to stop using exchanges that operate in the EU.

Using exchanges that don't operate in the EU is a lot more difficult, and it will just shift the questions from the exchange to my bank, which will then ask: "where did the money come from?".

[paid2]

I get that, but it's dumb Even if I receive money from someone else directly to an exchange, I can still say the sending address is mine. But much more likely: any address I use to send funds is mine, and any address I withdraw to is also mine.

Yeah, but at the same time if you do that you would then have to assume future transactions made with that address, for example if the address you declared ownership of received “flagged” funds or maybe it could be a problem with taxes declarations... In the short term, this clearly doesn't pose a real problem, given their level of competence and their means, but I'm more worried about the potential “retroactive” aspect of all this for the future.

By the way, I don't know if you've seen this, but there are countries that go beyond these regulations and really exaggerate..:  "Bank of Italy’s recent report has criticized Bitcoin P2P platforms and labeled them “crime-as-a-service.” "

[LoyceV]

By the way, I don't know if you've seen this, but there are countries that go beyond these regulations and really exaggerate..:  "Bank of Italy’s recent report has criticized Bitcoin P2P platforms and labeled them “crime-as-a-service.” "

Depending on which site I believe, Italy's informal ("underground") economy makes up 10-24% of GDP. Even if they label all cash transactions as "crime", people will just pay for their crime in goods. So all they really accomplish is spying on everyone who follows the law. Ironic, isn't it?

[NotATether]

By the way, I don't know if you've seen this, but there are countries that go beyond these regulations and really exaggerate..:  "Bank of Italy’s recent report has criticized Bitcoin P2P platforms and labeled them “crime-as-a-service.” "

LMAO!

I wish this forum had a 'ROFL' emote.

So now selling your bitcoins without a big regulated exchange middleman is a crime in Italy? Or at least, something that the banks will shadowban you for?

They need to go pound sand, because P2P platforms are not going anywhere, the entire whitepaper by Satoshi Nakamoto specifically describes Bitcoin as P2P currency.

[joker_josue]

I get that, but it's dumb Even if I receive money from someone else directly to an exchange, I can still say the sending address is mine. But much more likely: any address I use to send funds from is mine, and any address I withdraw to is also mine.

Theoretically you can say that, but in practice it doesn't work.

Because, according to the notification you received, you have to prove that this address is yours, so you have to generate some type of transaction that they request. If the address isn't yours, you won't be able to do this.

In the end it is something stupid, without a doubt. Because if we know how to do things, we can easily overcome these situations. However, it is still a boring thing to do, and in the end they are pushing people into the parallel market, ending up preying on any benefit they could have had from this market.

[examplens]

So they're saying they want to know ALL addresses I own that have a balance?

That's not how I read that email, but I wouldn't be surprised if that's the final goal next step. I assume the only reason taxes don't ask that yet is because the tax agency can't handle it in their (ancient) systems.

I haven't seen anything like this on any exchange, at least not the ones I use.
But it is entirely possible that Kraken is either under pressure or is under government control. Pmalek shared a tweet in the local board, from a Kraken user today, it's a bit twisted, to say the least.
They became concerned about how much their users planned to invest in Bitcoin.

Just got kicked off
@kraken
 for saying I might invest more than 10% in btc this year.

I had to go back on and say I will not invest more than 1% into “high-risk” bitcoin

The uk is literally trying to keep its people poor

https://x.com/JoeNakamoto/status/1875129895107580339

[joker_josue]

I haven't seen anything like this on any exchange, at least not the ones I use.
But it is entirely possible that Kraken is either under pressure or is under government control. Pmalek shared a tweet in the local board, from a Kraken user today, it's a bit twisted, to say the least.
They became concerned about how much their users planned to invest in Bitcoin.

It's not a question of being under pressure from the government or anything like that. It really is a matter of regulation.

Basically, for an exchange to operate legally within the EU, without being able to be fined, it must follow the rules of this new regulation. This will affect all exchanges operating in the EU.

[dkbit98]

Luckily, PeachBitcoin is based in Switzerland, not in EU, and for now they don't need to comply with new mica regulations.
I think they are only going to push people more to decentralized p2p trading with this crazy rules for each transaction, I think CoinGate started asking for this crap also for ALL payments(transactions.
They are going total surveillance from this year with all aspects of life...  

[Pmalek]

Luckily, PeachBitcoin is based in Switzerland, not in EU, and for now they don't need to comply with new mica regulations.

You are right. They are not part of the EU, but they are in Schengen. They are part of one European market. They might not have to comply with MICA, but it might be different in this case since they are providing their services in the EU market to citizens of the EU. I am just speculating, of course. We will soon see. PeachBitcoin is a licensed service provider, and as such, has to be compliant with Switzerland's AML regulations. If the national agency decides to respect MICA rules, PeachBitcoin's business model might change.

[icopress]

You are right. They are not part of the EU, but they are in Schengen. They are part of one European market. They might not have to comply with MICA, but it might be different in this case since they are providing their services in the EU market to citizens of the EU. I am just speculating, of course. We will soon see. PeachBitcoin is a licensed service provider, and as such, has to be compliant with Switzerland's AML regulations. If the national agency decides to respect MICA rules, PeachBitcoin's business model might change.

Peach's business model is fully compliant with Swiss regulatory legislation. 

[Pmalek]

Peach's business model is fully compliant with Swiss regulatory legislation. 

I know they are. That's why they have a KYC requirement that gets triggered at trades of over 1000 CHF. I am not questioning their compliancy. I am saying that if the Swiss national regulator decides to make changes to align more to the rules and regulations of MICA, that might affect how Peach Bitcoin will operate in the future with EU users.