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Erik Voorhees, CEO of Shapeshift, spoke about the possible coexistence of privacy rules and KYC / AML in an interview on WhatBitcoinDid. He also mentioned the fact that decentralized exchanges are a solution to participate in the cryptocurrency space, without giving personal details.
Last year, ShapeShift, one of the world's leading cryptocurrency exchanges, implemented customer awareness and anti-money laundering policies that made the exchange difficult to manage. by the community. In addition, the majority of the community opposed this initiative because users could use the services of the platform without having an account, which was bought back by the policy.
If privacy and KYC / AML could or could not coexist, Voorhees said:
"No, I mean, that's why we've acted so devastating because, personally and as a company, I respect the right of individuals to enjoy the protection of their private lives. which constitutes a violation of the law by KYC. So, I do not support the fact that we do it, it's not because we support it, it's because we have to do it "
Voorhees then said that many people did not understand this, thinking that the exchange had changed their principles because it had changed the policy.
"We have not been wrong and I believe that it is morally unfair to require people to give up their personal information, which I thought many years ago, he five years ago and I believe it today "
In addition, he was asked if a decentralized exchange was the only way to resist the economics of surveillance, as suggested by Andreas Antonopoulos, the author of Mastering Bitcoin. For this, Voorhees said that "any path taken by a company is not decentralized by definition".
He added that several decentralized exchanges imposed the KYC, adding that "it is not as clear, that a decentralized exchange can avoid these problems and that a centralized exchange can not", said Mr. Voorhees.
"There are many nuances and it depends a lot on the structure of the entity, the risk tolerance of the individuals involved in the jurisdictions considered, it is not an easy question"
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