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Leave your Centralized Exchange NOW!

Korea has the travel rule.  If a Centralized Exchange wants to be legal in Korea, a client is only allowed to transfer crypto from an exchange to a wallet that is registered with the state.  Korea will watch every transaction you make and they will be able to easily calculate your taxes and make sure all of your transactions were OK.  This is the big brother that will one day allow crypto to be mainstream but also goes against the spirt of crypto which is full control of your own coins.

As of right now, I can open a wallet without KYC and transfer coins from Kraken, Coinbase, and Binance to my wallet.  Kraken and Coinbase will transfer pretty fast.  Binance likes to take its time but for the most part, you should be able to get all of your crypto over.

The world is changing.  If Russia is able to avoid sanctions by using Bitcoin, NATO could start tracking the Bitcoin and there could be Russian embargo coins vs normal coins. 

A few months ago, a bored Ape was stolen out of a wallet.  After it was stolen the Bored Ape got blacklisted.  If you saw it for sale on OpenSea it would have some kind of disclaimer.  You would have trouble selling it for the full value.  I am concerned that this could start to happen with Bitcoin.  I don't want to worry about my Bitcoin being embargoed Bitcoin that was used by Turkey to purchase gas from Russia.

As I think about this more over the past couple of months I have changed my thought a bit.  What if you keep your Bitcoin out of the system but want to bring it back.  There could be good Bitcoin and bad Bitcoin.  If you don't get your Bitcoin from a reputable company like Coinbase, how do you know that it is clean Bitcoin and that it doesn't have a history.

 

 

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