I think the point is to call their little consortium "decentralized" and let the various on-ramps (be it wallets, exchanges, merchants) deal with AML, just as i

I think the point is to call their little consortium "decentralized" and let the various on-ramps (be it wallets, exchanges, merchants) deal with AML, just as if it were cash or Bitcoin. This is apparent in how their wallet Calibra is what requires KYC, not the crypto token itself.