4 ms·

A huge percentage of illegal transactions may be in cash, but a huge percentage of transactions in cash are not illegal.

• rietta 11y ago
  Which is why large cash transactions are heavily regulated and reported on. In the US, one cannot just withdraw $10k or a series of smaller transactions that add up to $10k or more without the bank reporting on that to the authorities. That's the balance that law makers decided to strike.
  • Klathmon 11y ago
    That's an interesting point. Cloudflare is doing something somewhat similar. If you are deemed "possibly a bad person" then you are asked to solve a captcha. If you want to give up some of your anonymity, you can keep the cookie they give you as a token to "prove" you are a good person. If you don't want that though, there is nothing cloudflare can do to know you aren't a bad person. It's much less than "heavy regulation", but i can easily see how it could be both a pain and a security issue for some. This is a shitty problem for all involved with no good solutions...
  • rbcgerard 11y ago
    an interesting aspect is that the bank secrecy act was passed in 1970, but has not been adjusted for inflation, so when the law was passed it was more like a $60k limit that has been encroaching on us ever since...