Comment on Itch.io is delisting NSFW games due to pressure from payment processors
hisao@ani.social 2 days agoAML and KYC
Ofc KYC is everywhere. But that is only relevant to inputting fiat to crypto. Are there precedents of exchange asking its user about the address where he sent his crypto? Even then, what exactly happens if you answer them with whatever, like you donated to some guy, or it was a present? Regular money laws don’t apply to crypto -> crypto transfers, they are not subject to whatever taxes for presents, charity, etc, and even if they were, that wouldn’t be for the sending side.
ipitco@lemmybefree.net 2 days ago
Sure, what you said is true, but again, I’m talking about crypto -> fiat
hisao@ani.social 1 day ago
Well, I don’t really know what exactly they’re doing, but there are people like Elon Musk that probably have ways of converting cosmic volumes of crypto back and forth to/from fiat. I’d just assume that crypto -> fiat is more of a problem for individuals currently but huge businesses and corps can make it work in high volumes. So maybe Steam could make it work too for games. And then crypto becomes massively backed by games. And then maybe someone else big jumps in. And then someone smaller can also jump in, and then one day crypto might be backed by such many things that you don’t even need to leave ecosystem, because you can already buy pretty much anything there. But again, this is just assumption, I don’t know how exactly this should work. Perhaps big corps can register a crypto-branch of their business somewhere crypto-friendly.
ipitco@lemmybefree.net 1 day ago
Yea crypto -> fiat is easy for businesses that declare their income. It’s still a pain to do, but they’re used to having an entire service dedicated to that already