Those who cannot show sufficient proof of origin of funds will no longer be able to buy or sell on the open market.
As we have explained before, Bitcoin and source of funds are key topics for investors, traders, and digital asset enthusiasts.
Digital asset markets have been kind of the Wild West of trading in the recent years.
The “crypto exchanges” are proactively asking users to show proof of their income, wealth, tax records, and other documentation that could be evidence of the user being a “no risk” customer.
Wright is not unhappy about anti-money laundering regulations getting tough, as he has been advocating relentlessly for Bitcoin to be the most law-abiding system ever created.
The source of funds is basically the question of who you are, where your funds come from, and why you have them.
Outside of Bitcoin, we still have identities, and they can be linked to each Bitcoin transaction.
It is private though; private enough for users to be safe but not private enough for unlawful actors to use it without getting caught.
People still think having access to digital assets is the same as owning them in legal terms. Ownership of an asset is not access to an asset, though.
“A key can be used as evidence, but it is not sufficient in many cases to offer proof without additional evidence.
So with your private keys, you have a part of the evidence, but not the full evidence for the source of funds or origin of wealth questions.
Wright also explained a simple and sufficient solution to register a root key, create a digital certificate, and have it as a government-issued identity key.
Satoshi Nakamoto must have been quite a genius by having an alert key system implemented in Bitcoin, exactly for the reason to signal within Bitcoin if and when certain funds are in danger.
“If you read my white paper, you will notice that I said: in the future we can add this.
Source of funds regulations shine light onto the digital asset market, and BTCers, with their flawed ideology, are probably not prepared for that.
Nowadays, the true Bitcoin, as intended by Dr.