China scanning private messages - bad, evil, dystopian, mass surveillance
EU scanning private messages - good, protecting children, necessary, nothing to worry about
STOP DAC8.
Not even your bank has to report this much about their clients. This is disproportionate.
DAC8 is justified as a defense against tax fraud, yet it forces crypto platforms to disclose identity, home address, tax residence and transactions, even the ones with no relevance whatsoever to any tax event.
And when a database this sensitive leaks, the harm will exceed whatever fraud it prevents.
Learn more on the link below đ
THORChain can't comply with anything, and that's by design.
There's no company you could send a takedown notice to, no terms of service that get quietly amended when the political winds shift, and no compliance team sitting somewhere deciding whether your transaction is allowed. The protocol just checks whether a transaction satisfies its rules, and if it does, it executes.
This isn't something that was overlooked. Financial systems that can be pressured into compliance eventually get turned against the people relying on them, and history has shown this happening to dissidents, minorities and ordinary people caught on the wrong side of whoever holds power at the time.
Infrastructure that nobody can switch off isn't a luxury for edge cases. It's what makes financial freedom actually mean something.