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Yes I do think she understand, and yes, many don’t. But even if they don’t understand, they generally understand how to manage laundering: yiu require proof th
by olliej 5y ago
Yes I do think she understand, and yes, many don’t.
But even if they don’t understand, they generally understand how to manage laundering: yiu require proof that assets come from a source that isn’t illegal.
This has nothing to do with immutability (and in fact is aided by it): if a US exchange has data that suggests an illegal source that triggers money laundering work - which involves providing evidence of the legitimate source. Similar laws exist in most countries at this point.
You can’t get around this by using a foreign exchange either, because bringing the money into you country of residence also likely runs into laundering checks.
So even if they don’t understand immutability (which I suspect is not going to be the case) or whatever magic feature crypto is ostensibly offering, they do understand anti-laundering tools, and those are increasingly effective now that banks have actually started receiving penalties for violating anti-laundering laws.