CyberByte
- Binance updates its service termsNov 26, 2025
EU is governed by bureaucrats and for bureaucrats it is only natural to stifle innovation and growth, because innovations cause changes and changes are what bureaucrats hate the most. So they will continue killing…
OK, I see. Thanks for the clarification. Relying on legal action for protection means that one has to provide KYC information beforehand, otherwise he would have no way to prove that it was actually him that lost the…
Why do you need a local cryptoexchange, though? Can't you just use any CEX located anywhere in the world as long as you trust it? Or do you mean that you need the CEX in order to convert your crypto to fiat?
Well, the real problem is that removing the privacy and enforcing government control on crypto, removes most reasons to use crypto. If there is no privacy in crypto then one might as well use electronic money issued by…
- New Rules from SEC for DEX Liquidity ProvidersOct 18, 2024
There is no point in counting enthusiasts separately from the regular users. If at some point the decentralized ecosystem becomes more widely used, then it will have more liquidity because users provide liquidity.…
- New Rules from SEC for DEX Liquidity ProvidersOct 16, 2024
If the source code for these DEXes is distributed under GPL or a similar license, then it is pretty easy to fork the DEX codebase remove the KYC and whitelist checks and start the same DEX under a different name,…
- EU is set to ban essential crypto featuresMay 16, 2024
All totalitarian states so far have either crumbled under their own weight or have been destroyed from the outside. I think that will be the fate of EU as well. If they decide to ban Tor/I2P they will most likely go for…
There are not many algorithms involved when a VPN server connects to a CEX server on behalf of the VPN user. The CEX server sees a regular TCP/HTTPS connection and there are not many algorithms that the the CEX could…
Even though DEXes are improving, CEXes are still better than DEXes in some respects, so it makes sense to use CEXes at least sometimes. I am pretty sure that many people will keep using non-KYC exchanges located outside…
If I remember correctly, it started after the financial crisis of 2008. The US government needed money so they decided to get it from the so-called "fat cats" who had stashed their money abroad. The US government…
Long gone are the days when the Swiss banks had any banking secrecy. Nowadays they will readily give your personal and bank information to anyone who asks nicely. The way they handle the crypto assets in pretty much in…
It is a draft so it is not public yet, but there is leaked information https://www.coindesk.com/policy/2022/11/15/privacy-enhancing-crypto-coins-could-be-banned-under-leaked-eu-plans/
You can buy privacy coins (XMR, DASH, etc.) from centralized exchanges that are outside of EU. Some of these exchanges don't even require KYC, so they essentially ignore the EU limitations. Even if the exchange requires…
Mandatory reporting of crypto/crypto trades is bad because the amount of paperwork will make crypto unusable for everyday use. Also this means once the government knows that you own crypto, it is very difficult, next to…
As far as I know in most EU countries crypto is treated as an asset and the owner is required to pay tax only when converting it to fiat, the difference between the buy and sell price is paid. I think France is an…
I agree that it is a problem. It probably makes sense to go through the transaction history of the wallets that one owns and see which wallets are "tainted" by communication with KYCed CEXes, then move the crypto from…
Replacing just one seed word is really easy to break and is probably the first thing the bad guys will try if they find something resembling a seed phrase. And it still requires memory. I would suggest taking one's…
The obvious lessons that I took from laws like this one are Don't keep large amounts on CEXes or other centralized sites.Use privacy coins.Keep the crypto wallet on an encrypted disk partition.Write down the…
For expensive token sales most of the associates costs are the platform fees. For OpenSea it is pretty much the sales fee which starts from 2.5%, regardless of whether it is a new token or an existing one. For an…
Making your own NFT tokens is not illegal. Nor is selling a new token for $10,000 more suspicious than selling a $10 token for $10,000.