Crypto Wallet De-anonymization: What’s Going On?

The Kraken Crypto Exchange required its British clients to verify the self- custodial crypto wallets. This is due to the tightening of Britain’s policy to combat the anonymity of the crypto business.

It is anonymity and the lack of control of self-custodial wallets that irritate the authorities, so a demarche of the state should be expected. Realizing that it is not possible to hack the blockchain, officials paid attention to the accompanying services. Your wallet is not available for the state. Fine. What are you going to do with your currency? Swap for fiat? The best option is to do it through a crypto exchange.

And now the crypto exchange will require you to identify yourself. It is impossible to abandon this procedure since crypto exchanges are too dependent on the state to enter into a discussion with him.

In fact, the attempt to de-anonymize self-custodial wallets is only a single episode of the global struggle against free crypto. Elitist groups within the state do not want to ban cryptocurrencies. Why should you eliminate good business if you can take control of it? Within this philosophy, the Central Banks develop their own cryptocurrencies. There is a particular irony in this - whereas previously the crypto was considered a fiat surrogate, now the Central Banks are ready to issue a surrogate cryptocurrency with a kind of cut-off blockchain.

We see Tether starting to block users on direct orders from the US, as one by one the crypto exchanges take control.

Kraken’s demand sounds formidable, but in reality, it is unlikely to make a difference. Controllers have a problem with matching identity and crypto purses. The whole thing is in particular blockchain: if your bank account is available for the bank and various supervisory authorities, the crypto wallet is available only to you, and blockchain does not require identification. How do you verify that the wallet owner gave information about his identity and not anyone else’s?

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