I was excited about Brave when first introduced, had it on my laptop and mobile and was mostly using it until they introduced their wallet, after signing up to their wallet which was, not sure if still is, on Uphold, they asked for the normal verification process then they asked for a selfie carrying the ID.
I asked them if it's possible to pass this part as I don't really trust online wallets to save that much of info, my local bank never asked for a selfie carrying the ID, only copy of the ID, and they insisted it's a must. Then I simply asked what are the guarantees their system won't be hacked, like every other system holding personal info of that much, and in case it does get hacked whether by outside hackers or inside leakers, how will they compensate me?
They blocked my account.
So, if you have no issues getting your ID and your selfie carrying it leaked by an insider or hacked by an Israeli company and sold to the Saudis who then would blackmail you, you can go ahead, I'm personally not comfortable with this new stupid security verification method.
Well, as I'm thinking about it now, maybe I'll consider sharing with them that much info if they will share with me their trade license copy, partners' list, copy of the ID of each partner and director with a selfie of him/ get carrying it... 🤔
Posted using Partiko Android
I don't see any of the latter happening for you.
Posted using Partiko Android
I don't expect it either.
Posted using Partiko Android
Yep 3rd Party KYC makes BAT and the whole privacy idea completely worthless. It's a good idea horribly executed. Brave without the shitcoin is a solid chrome fork, in my opinion,however.
There is not going to be any coin (with much value) that will legally be allowed to pay you AND let you withdraw without verification/KYC. It's just the way the world works and it won't be changing any time soon.
Outside the USA and in countries not under the FBI jurisdiction (control) that selfie thing is not required. Independent countries don't ask their citizens to sell their privacy for free to online sites, now you see them tomorrow they'll claim death in India or elsewhere and their heirs lose the password and information leaked, as usual. Can you name a single large site that collected too much info and wasn't hacked or leaked?
Posted using Partiko Android
Whether we agree with it or not is one thing, but that doesn't change the laws. If you want to participate in the crypto space (in the US), this is the direction things are going. Is it crappy that our data and privacy can be out there like that, sure, but there aren't a lot of other options.
Legally is what we make about it. A DAC can do whatever for example.
Until it is shut down and the creator charged with operating an illegal money transmitter business/exchange. We've already seen something like that happen:
https://www.sec.gov/news/press-release/2018-258