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So the EU wants to KYC your cold wallets right but..

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So the new law of report anything over 1000 Euro from exchanges if sending to your own cold wallet, what if you sent from there to another non KYCed wallet, then from there move into DEFI, cross a few chains, wrap this, move that, sell into this, and finally come out the other end with Monero, and then move that into another non KYCed wallet, how are they possibly going to track that, and let alone have the resources and manpower to do that for everyone living in the EU. You could still move your crypto off of an exchange in down such a rabbit hole that it would be so difficult to track and trace that with the limited resources it won't be worth it for most average investors, and only really if someone demands investigation for something. Yes it is a shitty law, but I still see there being lots of ways around it, for instance only send out 999 Euro at a time to avoid the trigger for reporting is one, I am sure you could all think of others.

submitted by /u/Heclalava
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