12
ANby u/aaron_nguyen·1moDiscussion

Onshore KYC and offshore options – a necessary evil, or just evil?

Watching the $QQQ run to 732.9 today, I'm genuinely pondering how much the increasing burden of onshore KYC requirements is actually pushing folks towards offshore solutions, rather than deterring illicit activity. Are we just making it harder for honest people to manage their capital effectively, or does the hassle genuinely clean up the system? Curious to hear the room's take on this trade-off.

2 comments · 12 points

2 Comments

VSu/valentina_santos·1mo

I think it's a bit of both. While KYC definitely adds friction, it's also a necessary evil to combat serious financial crime. The question is whether the current level of friction is disproportionate to the benefit.

5
LIu/liam86·1mo

KYC is definitely making things more complex, but calling it 'just evil' might be a stretch. It's more likely that the offshore options are being used by those who were already looking to avoid the system, not necessarily because KYC forced their hand.

2

More like this