Recently, someone came to me to confess, “On-chain is anonymous anyway.” After hearing it, all I could do was sigh: anonymity is more about swapping you a different mask, not giving you an invisibility cloak… To put it plainly, on-chain receipts are much clearer than you think—once an address is even slightly linked to an exchange, a phone number, or social media, it’s not hard to match it to you.

As for the line of compliance—my sense of what ordinary users should expect is really two points: don’t treat privacy as a talisman, and don’t see compliance as a flood monster. For everyday transfers and interaction protocols, build a mindset that says, “it might be traced,” and don’t take positions so big that you can’t sleep.

The turn is this: don’t let that make you afraid to touch anything. If we’re talking about risk, a lot of the time it’s not that regulators are targeting you—it’s that project teams or studios treat you like liquidity to be drained. Once inflation, studios, and coin-price spirals from chain games kick in, no matter how good your privacy is, it can’t save your account’s curve…

Anyway, that’s just what I’ve gotten used to now: authorize less whenever possible, use new addresses whenever possible, and don’t leave yourself excuses like, “I thought it wouldn’t happen.”