Relai announces that it has to comply with regulations and use kyc for all Relai users. Weirdly enough there is no link to a government website: https://relai.app/blog/verify-yourself-relai/
Does anyone know if this will affect Pocket Bitcoin, Peach and Swiss Bitcoin Pay, as they're also located in the same region?
All EU companies will follow MiCa or if no… All centralized system become point of fragility
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Switzerland is not EU or NATO or UN
CH is neutrality personified for centuries
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Switzerland might as well be part of EU at this point, with the plethora of treaties they signed.
The famous secrecy of the Swiss banks is a thing of the past. They participate in all the international AML treaties and will also rat you out to the taxman like any other bank.
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Switzerland isn’t in EU?
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I will double check using Brave search AI...
Switzerland is not a member of the European Union (EU), but it has established close ties with the EU through a series of bilateral agreements. The country is part of the EU’s single market, allowing for barrier-free trade in goods and services. Key Facts:
Switzerland is the EU’s fourth-largest trading partner, accounting for 5.2% of the EU’s imports, mainly chemicals, medicinal products, machinery, instruments, and timepieces. Over 1.5 million EU citizens live and work in Switzerland, and 450,000 Swiss nationals are based in EU countries. Switzerland has a unique relationship with the EU, with more than 120 bilateral agreements in areas such as trade, transport, security, and education. The country is not part of the Schengen Area, but Iceland, Liechtenstein, and Norway, which are not EU members, are part of the Schengen Area along with Switzerland. Switzerland has been associated with several EU policies, including those on research, education, and environmental protection.
Current Developments:
Switzerland is currently negotiating its position for the next stage of talks to regulate its relationship with the EU, aiming to decide by the end of 2023. The EU is analyzing the impact of Switzerland’s unilateral termination of institutional framework agreement talks in May 2021 on their bilateral relationship.
Cooperation and Negotiation:
The Swiss government prioritizes barrier-free participation in the EU single market, while the EU emphasizes the integrity of its single market, requiring the same rules to apply to all participants. Despite challenges, Switzerland is committed to solving these problems with a new approach, ensuring well-regulated relations and prosperity for both sides.
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Interesting point. Maybe Bitcoin companies can change for there. MiCa rules will not be applicable
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101 sats \ 0 replies \ @anon 16 Jul
WTF does this even mean?
Are you building another Coinbase?
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I was using Relai and Pocket for people new to Bitcoin to buy via these companies without verifying. Ofcourse your bank account is known if you buy, but that is not the same as verifying, where you have to give a lot more personal sensitive information.
It's probably better to use Robosats, HodlHodl or Bisq as a first option to buy without kyc, as a beginner.
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in the end there will only be robosats and bisq
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They were a good and cheap way to buy corn on a recurring schedule and with light or no kyc.
Time to uninstall.
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