Privacy

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Privacy has become a very important issue in modern society, with companies and governments constantly abusing their power, more and more people are waking up to the importance of digital privacy.

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Mozilla no longer accepting cryptocurrency donations after climate policy review (img.search.brave.com)

submitted 2 years ago by CheckoutmySetup@lemmy.ml to c/privacy@lemmy.ml

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Original Article: https://alternativeto.net/news/2022/1/mozilla-stopping-cryptocurrency-donations-following-criticism-pending-review-of-its-climate-impact

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[–] ethicallypulmonary@lemmy.ml 1 points 2 years ago (1 children)

Bitcoin ATMs in Australia (I believe) fall under AML/CTF laws which require them to register and comply with regulation that compels them to establish a customer's identity:

The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 requires regulated entities to collect information to establish a customer’s identity, monitor transactional activity, and report to AUSTRAC transactions or activity that is suspicious or involves large amounts of cash over $10,000.

I commented on decentralized exchanges like BISQ and how it can be risky. I wouldn't be surprised if my bank froze/shut down my account if they learned I was buying cryptocurrency peer-to-peer.

While happy to be proven wrong, I don't think it's possible here.

[–] AnarkioCrypto@lemmy.ml 1 points 2 years ago

I earn less than $1000/month in Bitcoin/Monero, which I withdraw to cash to pay for food and rent, which are necessary living costs. This is much lower than the $10k limit you described. I can't get a bank account anyway and use cash for P2P trades (Bitcoin ATMs, cash in person, cash by mail).