I want to know what happens if somebody lies? What happens if somebody fabricates a recipient? Or worse, uses somebody else's name and address?

Is there a mechanism where the recipient needs to confirm their identity?

Delete any KYC exchange account and buy sats from P2P markets such as:

• Bisq
• RoboSats (Onion link)

There are many more but those two are my goto marketplaces atm

Here's a good (and short) Twitter thread on the topic:

Bit by bit the noose tightens around citizens' ability to transact privately

Exchanges are starting to implement the travel rule & the EU is voting on regs 👇🏼👇🏼

The more legal precedents are set, the tighter the knot
1/

https://twitter.com/paddi_hansen/status/1507741898064252935

The Twitter thread, unrolled:

Thread by @Crypto_Mags on Thread Reader App
https://threadreaderapp.com/thread/1508199122314022914.html

#DELETECOINBASE

Coinbase has been sending notices to its customers in those countries that the changes will take effect in early April in order to comply with local travel rules in those places.

Coinbase has been sending notices to its customers in those countries that the changes will take effect in early April in order to comply with local travel rules in those places.

This will take effect [for Canadians] starting April 4, Coinbase said, citing Canada's FINTRAC rules as reasons for the change.

For users in Singapore, all crypto transfers from a Coinbase user’s exchange wallet to an outside address will require the recipient's full name and country of residence.

In Japan, all transfers of crypto assets to recipients outside of Japan must include the recipient’s name, address and destination wallet,