Comment Comment by max_ Bitcoin's goal was to help people "get out" of the traditional financial system "not inside it".Everyone knows where the real money laundering and terrorist financing happens.It is done by the likes of HSBC, Standard Chartered and other big banks.This is public knowledge, as we have seen with the Panama papers and most recently the FinCen files.Our financial institutions are too rotten for you to even assume that the intention of this regulation is altruistic (i.e public benefit).The tradition of regulation in finance is to perform a kind of scam called "regulator capture"[0].It is what we have mostly observed to be the goal of complex financial regulations. For it to divert from this would be an exception.[0]: https://www.investopedia.com/terms/r/regulatory-capture.asp parent max_ 5 years ago
Everyone knows where the real money laundering and terrorist financing happens.
It is done by the likes of HSBC, Standard Chartered and other big banks.
This is public knowledge, as we have seen with the Panama papers and most recently the FinCen files.
Our financial institutions are too rotten for you to even assume that the intention of this regulation is altruistic (i.e public benefit).
The tradition of regulation in finance is to perform a kind of scam called "regulator capture"[0].
It is what we have mostly observed to be the goal of complex financial regulations. For it to divert from this would be an exception.
[0]: https://www.investopedia.com/terms/r/regulatory-capture.asp