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391.
by from 4y ago
Would you be motivated to “play by the rules” if someone went to your store and told you they’d burn it down unless you paid them $10000 a month? This is a shakedown any way you look at it.
392.
by from 4y ago
When does a company actually become subject to EU jurisdiction? If they had closed all their offices, relocated all their employees, closed all their bank accounts in Europe before this case would a US court even be allowed to enforce this
393.
by from 4y ago
> Technically speaking, every Ethereum node operator with that code is now potentially an unlicensed money transmitter, in violation of U.S. banking regulations. Except Treasury has released guidance saying the opposite. Not sure what w
394.
by from 4y ago
Most of the value in a mixing service comes from how many people use it. If another one gets significant enough usage they will just sanction that one (assuming the current lawsuit results in a ruling saying they have the authority to).
395.
by from 4y ago
Treasury says mixing is money transmission so if you were a US person operating such a service you’d need a MSB license and a license for the states you operate in. Tornado Cash had no US persons operating it (arguably no one was operatin
396.
by from 4y ago
Changenow and Morphtoken have very high slippage when you get in the millions of dollars also these are (temporarily) custodial exchanges who could basically take your money and say GFY. Coins from these exchanges are tainted anyways so it
397.
by from 4y ago
https://en.wikipedia.org/wiki/Two_wrongs_don%27t_make_a_righ...
398.
by from 4y ago
This kind of thinking is called collective punishment and ordinarily is discussed as a human rights violation.
399.
by from 4y ago
Except financial companies are given civil immunity for this kind of thing if they file a SAR. It's effectively a license to steal. And I suspect it has less to do with any actual crime and more to do with the fact that some of the t
400.
by from 4y ago
https://storage.courtlistener.com/recap/gov.uscourts.txed.20... Here’s a recent example: They investigated guys who robbed Verizon stores, which led them to guys who bought phones from those guys, and wholesalers who t
401.
by from 4y ago
It may interest you to know that the guy you are replying to is Julius “zeekill” Kivimaki of Lizard Squad fame.
402.
by from 4y ago
The Soviet equivalent of this is saying you support free speech but not for capitalists.
403.
by from 4y ago
It's a real shame the Treasury Department officially disagrees with you in spite of the fact that there a lot of hardliners there (likely the same types who think e-gold was a money transmitter) who would love to agree with you.
404.
by from 4y ago
Western Union has actually paid some substantial settlements to the government regarding AML and sanctions violations. Liability for AML stuff mostly falls on card issuers and is largely related to large cash sales of prepaid cards so Visa
405.
by from 4y ago
They profited from issuance of the TORN token but they did not take fees out of every deposit. Relayers are the ones who receive fees for withdrawals (about 0.1 ETH) and depending on your point of view could be unlicensed money transmitter
406.
by from 4y ago
Yes, Tornado allows you to obtain ETH that is divorced from the original (potentially criminal) source. But exchanges and anyone with a block explorer can still see that your clean wallet received 100 ETH from the Tornado withdrawal addres
407.
by from 4y ago
Kind of unrelated but in a lot of ways I feel like an OFAC designation is a bill of attainder that is only legal because it’s used exclusively against foreigners. 1. Designate a businessman as an SDN 2. Wait for them to conduct some transac
408.
by from 4y ago
> the second one is dangerous! are you suggesting to just transfer WETH to the pool address without using the pool's swap function? Yeah. I meant to add that it should be done atomically in one transaction but come to think of it j
409.
by from 4y ago
> Exchanges don't read custom smart contract inputs to flag source of funds to prevent you from cashing out, for now This will probably happen eventually but I imagine it would be pretty easy to circumvent. There are lots of convol
410.
by from 4y ago
> Anti-money laundering laws may not prevent organized crime. But organized crime massively benefit from their absence. Solutions don't need to be 100% effective to be useful. Yes but there should be a cost-benefit analysis. The cu
411.
by from 4y ago
The major organized crime cases of the 70s and 80s were built almost entirely off wiretaps, informants, and a then novel law called RICO which federalized a bunch of former state crimes notably loansharking and gambling and dramatically inc
412.
by from 4y ago
I did not know that but the point largely still stands. Banks also have to do customer due diligence which is basically the same thing so they will have this info anyways. You can come up with an endless list of loopholes and then claim if
413.
by from 4y ago
>That should be fixed by forcing disclosure of beneficial ownership arrangements but that has turned into a roadblock for investigations now precisely because AML laws mean police investigations can get that far. For example, police inve
414.
by from 4y ago
Yes but this is really only useful for them after they already discovered a target of investigation. Having this information for everyone would make the initial detection of tax evaders substantially easier.
415.
by from 4y ago
I am skeptical of this because if they just wanted to raise revenue at the expense of privacy there are a lot easier ways to do it. They could make FBAR apply domestically. Or just require banks report checks and wires over 50k. Banning
416.
by from 4y ago
It seems strange to me that there is a consensus on this site that communications privacy is a human right but that financial privacy is a terrible evil. In fact all of the arguments pro/con (terrorists, drug dealers, etc can benefit
417.
by from 4y ago
There certainly are sandboxing efforts on Linux but most of them have incredibly permissive rulesets to the point where nearly every program has read/write access to everything in $HOME.
418.
by from 4y ago
> funds the most depraved regimes I would also push back against this idea. The two biggest "rogue regimes," Iran and Russia, generate hundreds of billions in clean money and substantial portions of their budget from oil/
419.
by from 4y ago
> I absolutely refuse to regress to the era where the mafia and cartel leaders ruled the streets and stood toe to toe with law enforcement Assuming you're talking about the US, this really only happened because of the dramatic incre
420.
by from 4y ago
Wayland's protocol is basically an isolation prison that requires "big DE's" and destroys choice. The protocol moves everything into one central place called the "compositor.” This machinery must provide: - the wind

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