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“The United States has been enormously successful blocking terrorists, rogue regimes, and their supporters from funding their activity using traditional currenc
by Mc_Big_G 6y ago
“The United States has been enormously successful blocking terrorists, rogue regimes, and their supporters from funding their activity using traditional currencies,”
Have they though? How much money has been proven to be laundered through the traditional banking systems, with the support of the banks. This argument against crypto currencies is equivalent to the pedo arguments about cryptography. It's simply BS.
The market cap of all crypto currencies combined is insignificant compared to the cap of fiat currencies used in illicit activities. There is little to no threat from crypto that we don't already have with fiat. The "threat" is a red herring.
- mensetmanusman 6y agoFBI only focuses on political terrorism, not economic terrorism from those at the top.
- vmception 6y agoThe actual PDF is pretty well balanced. They talk about the legitimate use cases and various narratives of cryptocurrency proponents, some narratives of skeptics, as well as its actual potential and use and research by non-enforcement government agencies. The DOJ is an enforcement agency and will naturally talk more about how to disrupt evolving criminal enterprises. This document goes into depth on how various threats and illegal activities are modeling and disrupted.
- kube-system 6y ago> How much money has been proven to be laundered through the traditional banking systems, with the support of the banks. Basically any news story you hear about money laundering involves traditional banking systems.