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When it comes to financial transactions, KYC laws mean that privacy is, in fact, illegal.
by cobbal 4y ago
When it comes to financial transactions, KYC laws mean that privacy is, in fact, illegal.
- lern_too_spel 4y agoThird party doctrine is nothing new and was a direct result of money transfer becoming easier (not sending gold bars around that could be seized). https://en.wikipedia.org/wiki/United_States_v._Miller_%281976%29#%3A%7E%3Atext%3DMiller%2C_425_U.S._435_%281976%2Cto_the_United_States_Constitution https://en.wikipedia.org/wiki/United_States_v._Miller_%28197.... Cryptocurrency enthusiasts like to think that just because their transactions are done inefficiently on a blockchain, banking laws don't apply to them. Of course they apply. The only difference is their transactions are more expensive.