Published on July 27th, 2018 | by bitcoin0
There’s bigger scam than anything in crypto its called kyc/aml
A system that keeps billions in poverty, kills innovation and provides an excuse for the banking system to lock out the competition.
The direct cost of this compliance to the financial companies is now in the billions every year.
Most countries have enthusiastically adopted them, and those that tried to resist, like Switzerland, eventually bowed to intense pressure.
Privacy issues aside, these requirements have ended up excluding an ever-increasing number of groups from the financial system.
Is it worth the massive troves of private information collected by every financial company and frequently stolen by hackers?