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Thank you for the citation, but now that I've read the law, every section in here seems to require that at least part of the money is proceeds of unlawful activ
by jl2718 6y ago
Thank you for the citation, but now that I've read the law, every section in here seems to require that at least part of the money is proceeds of unlawful activity: https://www.law.cornell.edu/uscode/text/18/1956 https://www.law.cornell.edu/uscode/text/18/1956
- freeone3000 6y agoThose clauses are joined by an "or", not an "and". One element alone is enough to satisfy.
- jl2718 6y agoWow, okay, so pawn shops too I guess: https://news.ycombinator.com/item?id=20602562 https://news.ycombinator.com/item?id=20602562 If reporting is already required for all cash transactions, then certainly it will be built into the digital USD. And Monero miners would have a problem here too. KYC required on every transaction in every block. Okay, so, what if you did KYC on all the inputs, but you ran a mixer such that the outputs would be obfuscated? Is that legal? What if you take outputs from a set of those mixers? Is there any legal way to provide irreversible privacy for known legal sources?