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Just to be noted, we are in this situation especially because there are a lot of terrible regulation in banking that force them to police every single use of yo

• stego-tech 1y ago
  And to note your note, we have those regulations specifically because of repeated bad actors finding ways to exploit consumers, businesses, or markets due to a lack of regulation. Regulation is not a bad thing, but it has the potential to be a bad thing. Done right, it's meant to protect people from being exploited, fleeced, or harmed; done wrong, it does the exact opposite. Most banking regulations, at least in my exposure to them (mainly through PCI-DSS and FDIC), are sensible regulations trying to combat known exploits or problems. Yes, it's inconvenient at times for legitimate use cases, but the solution there is making those legitimate cases easier or safer without weakening regulations stopping, slowing, or tracing bad ones.
  • greatgib 1y ago
    That is not the regulation that are the one in question here, more FATCA and AML, KYC and co