If you want to use a kycless network you then have to know and accept that it's going to be used for money laundering and that others are not going to transact with you or that platform because you accept that kind of risk.

The banks are obligated by the govt to not take that risk. It doesn't benefit the banks... We've seen they'd much rather not do KYC and take on the money laundering risk because it's far more profitable.

[–] CashDragon@realbitcoin.cash 2 points 5 days ago* (last edited 5 days ago) (1 children)

If you are a giant bank you can ML all you want. AML is a useless scam and a violation of basic rights of individuals to transact privately. It is big brother's attempt to monitor capital flows.

Every top 10 bank fined as £150 billion laundered annually

https://trilateral-it.com/every-top-10-bank-fined-as-150-billion-laundered-annually/

[–] Album@lemmy.ca 0 points 5 days ago (1 children)

I feel like the link you just provided completely invalidates the way you started "if you are a giant bank you can ml all you want" but then you show the fines that show you can't do this all you want.

Keep in mind the banks are profiting from others laundering money not from laundering their own money.

"It's big brothers attempt to monitor capital flows."...yes exactly...

[–] CashDragon@realbitcoin.cash 1 points 5 days ago

The bigger the bank the more they can ML. The fines are to pay off the biggest mafia in town to leave them alone. It has nothing to do with stopping crime and everything to do with surveillance and data collection.

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