Decentra Suze
@DecentraSuze • 6,567 subscribers
Susie Violet Ward | CEO & Co-Founder @BitcoinPolicyUK | Bitcoin journalist with bylines @Forbes & @CityAM) | Host of My Two Sats on @RoxomTV
Videos
KYC doesn’t just put your data at risk; it puts people at risk. Hackers recently demanded $20 million in Bitcoin from Coinbase, threatening to leak sensitive customer data. While no passwords or private keys were accessed, the attackers obtained full names, addresses, contact details, partial Social Security and bank account numbers, and identity documents. This is the kind of data that can be weaponised for identity theft, fraud, or worse. This is exactly the kind of risk I raised on the compliance panel at the Financial Times Digital Assets Summit last week. While KYC and compliance frameworks are presented as security features, they often do the opposite. They create massive, centralised honeypots of personal data that can and do get breached, sold, or exploited. We’ve seen what can happen when that data gets into the wrong hands. Earlier this year, David Balland, the co-founder of Ledger, was kidnapped along with his wife. His captors cut off one of his fingers and sent it to a business associate to demand crypto ransom. He was rescued by French special forces, but the message was clear: real-world consequences are now linked to digital identity exposure. We need better solutions that don’t force users to sacrifice privacy and safety for access. Compliance shouldn’t come at the cost of security.
Decentra Suze41,886 görüntüleme • 1 yıl önce
Gemini has announced it is leaving the UK, alongside exits from Europe and Australia, and is refocusing on the US and Singapore. I discussed exactly this risk at the Financial Times Digital Assets Summit last May. This is what happens when compliance becomes cumbersome and prohibitively expensive. Smaller companies are pushed out first. Over time large and established businesses reassess whether it makes sense to continue operating in an environment where regulatory uncertainty, cost and process complexity keep increasing. Gemini is not a small startup, it is one of the largest regulated exchanges to have operated in the UK. When firms of this size choose to concentrate activity in jurisdictions they view as more business friendly, it reflects how growth conditions, capital allocation, and long term viability are being weighed. What we are seeing is business leaving the UK, reduced competition, slower growth, and fewer companies choosing to build here. This is an important moment for policymakers and regulators to reflect on how current frameworks are affecting business confidence, competition, and growth in the UK. Financial Conduct Authority Lucy Rigby KC MP Bitcoin Policy UK
Decentra Suze22,950 görüntüleme • 8 ay önce
The UK government is pushing digital ID again despite nearly 3 million people opposing it and a four hour parliamentary debate that raised overwhelming cross party concern about this dystopian technology. Linking identity to payments creates the infrastructure for unprecedented financial surveillance and control. Watch this clip where Freddie warns: “If the government decides to suspend your digital ID and that becomes the gateway to services and payments, you are effectively unpersoned.” Please take a few minutes to submit a response. Consultation: Full document: Closes at 12:30pm on 5 May 2026. Freddie New Bitcoin Policy UK Big Brother Watch no2id Kemi Badenoch Darren Jones MP
Decentra Suze18,696 görüntüleme • 7 ay önce
The UK is pricing out innovation with bloated compliance and unclear rules. Startups are being squeezed out while only the largest firms can afford to stay. Regulators failed to act on industry advice. Companies are leaving, growth is hindered, and we’ve lost any chance of a second-mover advantage. The real question is whether we’ll ever catch up. How did the UK, once a global leader in financial services and computer science, fall so far behind? Financial Conduct Authority
Decentra Suze11,089 görüntüleme • 1 yıl önce
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