Since the regulations force businesses in EU to obtain kyc for transactions above 1000 Euros, it will kill the real world use cases of crypto .
The KYC information could easily leak and then the wallet used for the transaction becomes linked to a user identity for everyone to see .
Effectively this makes the user’s balance and transactions public. This will be a huge privacy issue for all public chains as surveillance becomes easy for anyone to do . Additionally could cause safety concerns for the user too .
In real world terms , this is equivalent to a bank publishing your account statement whenever you make a purchase will your details and the recipient / merchant details.
What are your thoughts on this ?
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