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In case anyone wants to read the US Treasury announcement: https://home.treasury.gov/news/press-releases/jy1925 https://home.treasury.gov/news/press-releases/j
by 1B05H1N 3y ago
In case anyone wants to read the US Treasury announcement:
https://home.treasury.gov/news/press-releases/jy1925 https://home.treasury.gov/news/press-releases/jy1925
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...Binance willfully failed to report well over 100,000 suspicious transactions that it processed as a result of its deficient controls, including transactions involving terrorist organizations, ransomware, child sexual exploitation material, frauds, and scams.
Terrorist Financing. Binance failed to report to FinCEN transactions associated with terrorist groups including Al Qaeda, the Islamic State of Iraq and Syria (ISIS), Hamas’ Al-Qassam Brigades, and Palestinian Islamic Jihad (PIJ).
Ransomware. Despite being one of the largest receivers of ransomware proceeds, and transacting in millions of dollars of ransomware proceeds from attacks involving at least 24 different strains of ransomware, Binance failed to report these transactions.
Child Sexual Abuse Materials. Binance never reported transactions with websites devoted to selling child sexual abuse materials, including Dark Scandals.
Darknet Markets, Scams, and Other Illicit Activity. Despite sending and receiving virtual assets proceeds from large-scale hacks, account takeovers, and darknet markets dealing in illegal narcotics, counterfeit and fraud-related goods and services, as well as other illegal contraband, Binance never reported any such transactions.
"""
- verisimi 3y ago> transactions involving terrorist organizations, ransomware, child sexual exploitation material, frauds, and scams These justifications.
- xenator 3y ago[flagged]
- robocat 3y agoThey left out copyright infractions. I bought a car service manual and the seller wanted to be paid using Binance.
- concordDance 3y agoThe ability of people to freely exchange a store of value is something governments don't like. They want the power to veto transactions and declare people or entire countries impossible to trade with.
- deleted 3y ago[deleted]
- RandomLensman 3y agoWelcome to society.
- concordDance 3y agoI will note governments also want to do the same to any communication between two individuals (not just communication about an economic transaction). Do you have the same attitude to that?
- RandomLensman 3y agoYes, indeed, societies fight over this, too, because it isn't just governments acting in a vacuum.
- lelanthran 3y agoI don't think it's that nefarious. They just want to tax every transaction, which is what they were doing before crypto. Vetoing and shutting down people and countries is a side effect, not the intended effect, of knowing all transactions.
- throwawayqqq11 3y agoWhereas on the classical side of wealth, gorillions are held by anonymous layers of legal bodies that allow quick shifting of assets out of taxation and circumvent eg. weapon embargos. Its the messiness the article speaks about and it mostly works for the few and not the many. It would be helpful for us to realize that it is that what goverments do like, aka sustain, because the existing power structures rely on it. I am not sure whether "tinking about the many" was ever a serious part of bro cultulture.
- deleted 3y ago[deleted]
- deleted 3y ago[deleted]