Trezor hardware wallet is trying to be compliant with regulators and has added KYC tracking and travel rule information to their wallets. Users must identify their transactions from CEX and tie their wallet addresses with their KYC.
When you use Trezor, it automatically tracks your private wallets and obtains evidence to that effect. Trezor claim this is a regulatory requirement under Swiss Financial Market Supervisory Authority’s crypto AML rules.
But no one asked Trezor to implement these things at a personal wallet level. Travel rule requirements exist for exchanges and they report it to the government. Nobody has asked wallet companies to bring this nonsense to private wallets. The country regulators havent asked Trezor to do this, literally no one has asked them to.
This is how these features look like now:
By implementing such bullshit features, wallet providers are giving more authority to big governments to come after our privacy. Bending to the whims of just one country …This is absolutely disgusting by Trezor. They are trying to become leaders in crypto surveillance when there is absolutely no one asking them to do so, no regulator has asked hardware wallets to track user wallets KYC.
This is what Trezor is claiming:
Users have to pro-actively share the information (that is already known as they are KYC’d) themselves and sign the message. The information has to match the KYC details that were already shared by the user with the exchange during the KYC process.
Dystopian night mare. Not what I signed up when using a hardware wallet. Bloody nonsense.
Trezor just completely lost the plot here.