Yes the AMLD5 is all bad news, its been the source of misery for me because my primary crypto exchange is almost certainly going to go full kyc 2020 jan1
the FATF laws for 2020 June are still hyper totalitarian as well and when i warn redditors about it they go full potato. The average crypto investor doesn’t understand any of the regulatory stuff we talk about. ANY.
The feds are moving towards another black friday poker crackdown on crypto. The ability to do everything offshore is in the absolute crosshairs of the FATF. They know and understand what crypto is for offshore finances, and you can absolutely guarentee yourself they are planning on trying to persecute non custodial wallet providers and developers with backdoors.
They have a plan to use smart contracts backdoored by the finance industry and state to create a virtual geofence closed garden system for tracking bitcoin and any non fungible currency mercillessly. Your bitcoin will be tagged and tracked and trapped.
The only way to avoid all this is monero. That’s it. IT’s the only safe coin. And the only way to wash btc. BTC has to be washed with monero to break the chain history. It’s the only full way. I’m sure the defense department is pouring millions into cracking monero cryptography. And it certainly isn’t because of criminals, it’s because of capital flight and tax evasion.