5 sats \ 2 replies \ @cryptocoin OP 26 Mar 2022 \ parent \ on: Coinbase to Require Recipient Information for Crypto Transfers From Users in Canada, Singapore and Japan | CoinDesk bitcoin
This is phase 1.
If it is self-determined (if Travel rule applies), then the regulator simply waits half a year, does a study finding incidents where they didn't indicate properly, and then Phase 2: Travel rule modified and applies to every withdraw.
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20 sats \ 1 reply \ @jeff 26 Mar 2022
This is totally just Phase 1. But I think Phase 2 is more like "identify the owner of this dIrTy sElF-hOsTeD TeRrOrIsT wAlLet for your deposit, otherwise we get to keep the coins".
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0 sats \ 0 replies \ @cryptocoin OP 26 Mar 2022
And when even that fails to provide full surveillance, it's on to Phase 3.
You can't withdraw your coins. You can send them to someone on another (approved) exchange, or can sell your position and withdraw the fiat, but there's no withdrawal of your bitcoin.
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