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Will they also clamp down on Transferwise? The fallacy here is, Bitcoin doesn't actually move money. It can only move ownership of money. If I want to finance
by tomp 11y ago
Will they also clamp down on Transferwise?
The fallacy here is, Bitcoin doesn't actually move money. It can only move ownership of money. If I want to finance terrorism, there must already be someone with e.g. $1M where I want it (in Islamic State), so that I can trade 3000 BTC with him/her.
- teh 11y agoTransferwise already require receipts for some payments. I recently ordered something from Asia where payment went through an intermediate European payment provider and Transferwise wanted a receipt from me to proceed.
- Lunar_Lamp 11y agoTransferWise hasn't done anything with Bitcoin since April 2013 - https://transferwise.com/blog/2013-04/notice-to-bitcoin-users-april-2013/ https://transferwise.com/blog/2013-04/notice-to-bitcoin-user...
- yc1010 11y agoTransferwise accepts payments from debit cards or to their eastern European bank (Latvia or something), and then they pay from their US bank for example. They do ask for ID documents and perform AML checks, but then again so do all proper bitcoin exchanges with the exception of the shady btc-e from Russia or thereabouts. But its not like bad guys are afraid of using fake IDs (as seen in Europe this last week) which brings the obvious question as to why they would bother with all that when they can just use cash and traditional banking. The whole article is click bait of the highest order based on fud. ---- If the powers to be want to hit ISIS where it hurts how about destroying their oilfields, oil refining and transport capabilities. A few armed drones can do this on the cheap remotely. Make it clear that any oil extraction, processing or transport equipment in the area controlled and sympathetic to ISIS will be destroyed and grant these scum their wish if living in the middle ages.