What all of us should make everybody notice is that validators/miners run the software program, not software program builders (even when they maintain some tokens letting them regulate restricted parameters). The devs *cannot* do KYC or censor–only miners/validators *might* try this. : ethereum

intermediary is useless in web3

there is no centralized authority

you’d should log in with soulbound NFT however with zero data techso that privateness is ensured in public blockchain

then if there’s an illegal transaction occurring, authorities can discover it out themselves who that’s w/o asking intermediary as there may be none in actually decentralized system

i am certain they’ll block somebody from interacting with DeFi additional that approach

so i believe authorities must register folks with soulbound NFT andweb3 devs simply have to verify double test solely registered soulbound NFT can work together with their apps/and many others

mainly no person ought to have full data of what every individual does whatbut what occurs must be open to public anonymouslyonly reverse traced to seek out id/sanction when there’s an incident that goes towards the legislation or one thing

however then it is digital so who has jurisdiction over management of id/transactioni guess jurisdiction goes to the best authority when the transaction happens bodily of their nation…or AI if worldwide

i believe it is gonna occur in the end