rich1.0L0laL33tz wroteL0laL33tz (npub1mz…q6mak)https://nostr.now/npub1mznweuxrjm423au6gjtlaxmhmjthvv69ru72t335ugyxtygkv3as8q6maknjumphttps://nostr.nowThe Treasury is contemplating the implementation of digital identities in DeFi.
This would mean that all software developers building non-custodial services could be required to implement smart contracts that facilitate identity checks before executing a transaction.
This would not just mean that developing open-source non-custodial services would become prohibitively expensive, or that users could be excluded from non-custodial services for failing compliance checks.
It would effectively turn a permissionless system into a permissioned one, in which the Government gains the ability to watch, deny, or approve everything you do.
But here’s a fun fact: the Treasury is currently seeking comments on this plan, and it is legally required to consider *all comments* that it receives.
The more comments it receives, the longer such implementation would take.
If you care about your privacy, you know what to do. Link to issue comments in the article quoted. The deadline is October 17th.
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