One of the other days I moved some funds from Binance. I made a few small purchases and they just piled up. And I wanted them out of Binance.
Besides these on-ramp operations, I haven't used Binance since... I don't remember when.
So, to me, the grilling I had to go through to be able to move my funds away from them is relevant for what is coming for on-ramping platforms, at least.
They wanted to know:
I think there was another question but I forgot it.
We may assume that Binance was coerced to ask for this information to ease the tracing of everyone's starting trails in crypto. Maybe that's true, or maybe, like FB, they just want to know, and then use the information they collect for their own benefit.
I wouldn't disregard the possibility of a combination of the two. Start collecting the information after being pushed into a corner, and then think: Hey, we can use this stuff ourselves!
I for one am tired and sick of police states and of my data being collected, transmitted, and used by various entities (and therefore their employees). And I became allergic to requests for personal information, even if sometimes they are justified.
Have you ever received phone calls from whatever parts of the world you have no connection with? I did. Sometimes often. I don't answer, because I don't have time to waste on them. They either bought bulk personal information details on the black market or they hacked a site that contained such information themselves.
Since I'm talking about phone calls, here's another story, this time from my country. I was once called and texted persistently to "pay up my invoices". After the discussion I had via text with the one that had money to receive, I am pretty sure the guy who had invoices to pay gave a random phone number, in this case, and it happened to be mine. Obviously, I didn't pay.
Privacy is quite high among my concerns. High enough to believe it's a mistake to associate full names with wallet information, which sometimes happens on Hive. Even worse if there's something that uniquely identifies you (because people with the same full names are easy to find in a large enough sample).
