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If you sell something to the public, you must abide by certain regulations. A law that says "Amazon must know their sellers and be able to pass the consumer on

by Nursie 3y ago

If you sell something to the public, you must abide by certain regulations. A law that says "Amazon must know their sellers and be able to pass the consumer on to those sellers, or it is liable itself as a backstop" might indeed shut some people out of Amazon's marketplace who cannot comply. But those people would not be allowed to legally retail to the public anyway, as they couldn't fulfil those requirements > The government is literally telling a business they have to judge someone without the person being able to provide a defense, like they would in a court of law. A business, not a someone, and there are all sorts of compliance rules you could complain about doing exactly the same thing.

lotsofpulp 3y ago
A business is someone. And KYC should just be the government providing an identify verification API so that in the event there is a problem, the government knows who to go after. Government leaders just want to be able to point fingers at as many people as possible with KYC laws (which do more than just require the business to verify who they are doing business with). A business should know who they are transacting with, but a business should not be vetting them for illegal activities. That is a job for courts. Businesses can even be required to report who buys what and how much (for example, bulk supplies to make methamphetimine or explosives), but the business should not be using nebulous heuristics such as credit score or income or other non illegal things to figure out who may or may not be a criminal. Last example, the US government should require online marketplaces to know who they are doing business with, and it should be someone within US jurisdiction. The US government should also provide the online marketplaces with an identity verification API to do this. So when a product sold on Amazon causes a problem, it should be easily possible for the government to charge the seller with a crime, and dole out an appropriate punishment.

by Nursie 3y ago

lotsofpulp 3y ago

A business is someone. And KYC should just be the government providing an identify verification API so that in the event there is a problem, the government knows who to go after. Government leaders just want to be able to point fingers at as many people as possible with KYC laws (which do more than just require the business to verify who they are doing business with). A business should know who they are transacting with, but a business should not be vetting them for illegal activities. That is a job for courts. Businesses can even be required to report who buys what and how much (for example, bulk supplies to make methamphetimine or explosives), but the business should not be using nebulous heuristics such as credit score or income or other non illegal things to figure out who may or may not be a criminal. Last example, the US government should require online marketplaces to know who they are doing business with, and it should be someone within US jurisdiction. The US government should also provide the online marketplaces with an identity verification API to do this. So when a product sold on Amazon causes a problem, it should be easily possible for the government to charge the seller with a crime, and dole out an appropriate punishment.