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The US has financial laws. Enforcing those laws is not tyranny. The simplest way to understand this is that money from crime is tracked so that investigators c

The US has financial laws. Enforcing those laws is not tyranny. The simplest way to understand this is that money from crime is tracked so that investigators can follow it to the bad guys. We have laws that financial providers have to keep records so we can find the bad guys. A tool whose explicit exclusive purpose is to obfuscate bad guys money will not satisfy the legal requirements of operating financial services in the US. No one should be surprised by this.

ETH_start 4y ago
That is a very exceptionalist view of the US. Imagine if a Chinese national said: "China has financial laws. Enforcing those laws is not tyranny" to justify an incredible government over-reach into what any one in the world may publish, and how any one in the world may encrypt their digital financial transactions. >>The simplest way to understand this is that money from crime is tracked so that investigators can follow it to the bad guys. While there is abundant evidence that these laws impose massive costs on law-abiding citizens and companies, there is little to no evidence that they are effective at reducing crime: https://www.tandfonline.com/doi/full/10.1080/25741292.2020.1725366 https://www.tandfonline.com/doi/full/10.1080/25741292.2020.1... They do support the burgeoning regulatory compliance industry though.
- tjansen 4y ago
  I doubt that you'd be allowed to "encrypt your digital financial transactions" in China.
  - guipsp 4y ago
    This is irrelevant to the point the parent made.
Etheryte 4y ago
This person does not live in the US, why should they be subject to US laws?
- zeusk 4y ago
  Because his service facilitates financial crimes in US and interpol is a thing? You can be extradited from any two countries with treaties. Which seems unlikely in his case as he is based out of Russia. US can and will restrict his access to US persons/assets (incl. vice versa).
- imustbeevil 4y ago
  They're doing business in the US. Only their US business is directly affected. Most crypto sites have different operations in the US because different countries have different laws, and you technically have to follow all of them.

ETH_start 4y ago

That is a very exceptionalist view of the US. Imagine if a Chinese national said: "China has financial laws. Enforcing those laws is not tyranny" to justify an incredible government over-reach into what any one in the world may publish, and how any one in the world may encrypt their digital financial transactions. >>The simplest way to understand this is that money from crime is tracked so that investigators can follow it to the bad guys. While there is abundant evidence that these laws impose massive costs on law-abiding citizens and companies, there is little to no evidence that they are effective at reducing crime: https://www.tandfonline.com/doi/full/10.1080/25741292.2020.1725366 https://www.tandfonline.com/doi/full/10.1080/25741292.2020.1... They do support the burgeoning regulatory compliance industry though.

tjansen 4y ago
I doubt that you'd be allowed to "encrypt your digital financial transactions" in China.
- guipsp 4y ago
  This is irrelevant to the point the parent made.

Etheryte 4y ago

This person does not live in the US, why should they be subject to US laws?

zeusk 4y ago
Because his service facilitates financial crimes in US and interpol is a thing? You can be extradited from any two countries with treaties. Which seems unlikely in his case as he is based out of Russia. US can and will restrict his access to US persons/assets (incl. vice versa).
imustbeevil 4y ago
They're doing business in the US. Only their US business is directly affected. Most crypto sites have different operations in the US because different countries have different laws, and you technically have to follow all of them.