Bitget managing director Gracy Chen said that if users are not doing illegitimate activities like money laundering, they should be “pretty comfortable” with the KYC process.
To minimize the damages caused by financial fraud, Romero proposed the formation of the National Financial Fraud Registry — a centralized record of all crimes and fines related to financial fraud.
The proposal would allow other blockchains to be built on the Bitcoin network. In August, a core developer rewrote the proposal’s code and requested it be added to Bitcoin’s codebase, sparking new debate over its merits.