> All the rules and regulations were created because someone was bad enough for people to agree on a rule to prevent something from happening again. It's a bit

> All the rules and regulations were created because someone was bad enough for people to agree on a rule to prevent something from happening again. It's a bit more nuanced than that. Current KYC/AML regs that you're referring to in banking, and are being applied to crypto, actually come from the Patriot Act, Title III. Why this is relevant: KYC/AML have stuck around as a perceived common-sense thing to do, and your comment is good example though. However, that evaluation deserves some inspection with the knowledge that it comes out of the Patriot Act. The Patriot Act is known for some historically challenging overreach and various parts of it have been overruled, repealed, deemed unconstitutional, and generally disliked by all aspects of the political spectrum. That's not to say that a few good things came out of it - perhaps KYC/AML is an example. But, I think specifically because of the Patriot Act ties, it's a bit of a misnomer to call KYC/AML as a sort of bland, unambiguously good thing that's just always been around. The Patriot Act is very much "not that," was passed in a fairly turbulent time in US history, and has not aged well. As current KYC/AML came out of that time period and law, perhaps it should be shaded by that.