3 ms·
non paywalled: https://eresearch.fidelity.com/eresearch/evaluate/news/basicNewsStory.jhtml?symbols=JPM&storyid=202005120714DOWJONESDJONLINE000083&sb=1 https://
by nimbius 6y ago
non paywalled:
https://eresearch.fidelity.com/eresearch/evaluate/news/basicNewsStory.jhtml?symbols=JPM&storyid=202005120714DOWJONESDJONLINE000083&sb=1 https://eresearch.fidelity.com/eresearch/evaluate/news/basic...
Exchanges all adhere to KYC, so this is relatively low risk for established financial institutions who are already familiar with commonly accepted methods of money laundering. https://en.wikipedia.org/wiki/Know_your_customer https://en.wikipedia.org/wiki/Know_your_customer
Tinfoiled among us could see the limited incursion of federal oversight into this venture as a natural progression from the existing system by which corporations and dynastic elites funnel wealth into traditional Cayman/Geneva strongboxes which have a tedious habit of being exposed to the press, to a system of truly untraceable laundering.
Combine this with the 2020 creation of Privacy ICAO Addresses in ADS-B transponders and it becomes clear that the cloistered elite really do not want you so much as thinking of them.
- someguydave 6y agoI would rather banks not spy for the government, and to be able to fly my own airplane without broadcasting my position in a government directory. If that means empowering rich people, so be it - they are gonna get empowered either way.
- dependenttypes 6y agoThe elites will always be able to secretly transfer money around with the help of the government. What they do not want is for average people like you and me to be able to do the same.