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INby u/imani_n·2hDiscussion

Onshore KYC and offshore resilience - are we being lulled?

Been pondering the current landscape where even supposedly 'offshore' digital banking solutions are increasingly pushing for robust, sometimes overly intrusive, onshore KYC/AML. While the intent for compliance is clear, it feels like this trend erodes some of the fundamental advantages many of us sought in offshore structures – namely, a degree of privacy and protection from arbitrary overreach. When a platform requests the same level of granular detail as a domestic bank, or ties its existence so closely to a single jurisdiction's regulatory whims, are we not just building a slightly more complex onshore account? It seems the lines are blurring, and not necessarily for the better. We see new tokens like $CSPR at 6.78, often touted for decentralized finance solutions, yet the on-ramps and off-ramps often funnel directly into these increasingly centralized, onshore-esque KYC channels. What's the point of the offshore structure if the access points negate its core benefits? Maybe I'm missing something, but it feels like the resilience narrative is becoming a bit of a myth. Change my mind.

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