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AML prevents very little money laundering but imposes a huge cost on everyone. Before 9/11 it was possible for a foreigner to open a bank account in the US. It
by throw123123123 6y ago
AML prevents very little money laundering but imposes a huge cost on everyone.
Before 9/11 it was possible for a foreigner to open a bank account in the US. It's now been 20 years since it is required to physically travel to the us to open a bank account.
Do you think that increases crypto demand or decreases it?
- JumpCrisscross 6y ago> it is required to physically travel to the us to open a bank account One, why does a non-American non-resident need an American bank account? Foreign banks can hold dollars. And two, plenty of American banks open accounts for overseas non-Americans. > Do you think that increases crypto demand or decreases it? Why is this a bad thing? An edge case is being addressed through a novel product. Win win.
- throw123123123 6y ago> One, why does a non-American non-resident need an American bank account? Foreign banks can hold dollars. HackerNews "its just rsync" level comment > And two, plenty of American banks open accounts for overseas non-Americans Literally 0 without physical presence. But I'm very much welcome to be proven wrong here, can you give me a bank that opens accounts for non american non residents?