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Total deregulation is the only way. People should be free to contract as they wish, without limitations imposed on them by centralized regulatory authorities.
by CryptoPunk 6y ago
Total deregulation is the only way. People should be free to contract as they wish, without limitations imposed on them by centralized regulatory authorities.
The alternative in this age of instant global communication is this: US regulatory agencies having to prosecute companies in other countries because people living in the US were able to access the companies' services through the internet, resulting in no company anywhere on Earth being allowed by arms of the US regulatory system to provide financial services that do not ID and track customers.
- chii 6y agowhich is a good out come, if the goal is to prevent money laundering and proceeds of crime from being cleaned and used.
- CryptoPunk 6y agoInstituting warrantless mass-surveillance, which makes institutional tyranny far more likely, to reduce crime from non-state-actors, is a terrible trade off. It's not even effective at reducing crime: https://www.ledgerinsights.com/anti-money-laundering-has-less-than-1-impact-on-crime-at-what-cost/ https://www.ledgerinsights.com/anti-money-laundering-has-les...
- qertoip 6y agoYou are absolutely right but it gets even worse. The KYC bullshit is on the brink to spill over to non financial services, like messaging apps, hosting, email, and what not.
- yowlingcat 6y ago> Total deregulation is the only way. "He turned. In his hand was a revolver that the Constitution said he had every right to own. He fired at me and missed. I pulled my own gun, put a quarter in it, and fired back. The bullet lodged in a U.S.P.S. mailbox less than a foot from his head. I shot the mailbox again, on purpose." [1] [1] https://www.newyorker.com/humor/daily-shouts/l-p-d-libertarian-police-department https://www.newyorker.com/humor/daily-shouts/l-p-d-libertari...