Figures. The little guy finds a way to get ahead and big daddy comes in to spank us. Just let it be, what is it hurting?
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Figures. The little guy finds a way to get ahead and big daddy comes in to spank us. Just let it be, what is it hurting?
That is the concern I have. My concern is these sorts of laws will be aggressively enforced against the little guy or used as a threat against people charged with crimes which are unrelated. I highly doubt billionaires and organized criminals will be caught at least if they use cryptography. As far as terrorism goes, the question of whether or not they are using cryptocurrencies is unknown but even if they are, only the dumbest will be detected.
Do exchanges need AML KYC? Yes. Do individuals need to worry about that? I hope not. In an ideal world, the little guy will be able to get ahead without having to worry about being charged with some sort of money laundering. But when law enforcement talks about these sorts of laws they often use very broad definitions like "criminals" without really providing the statistics for who is most likely to be arrested and charged on that.
We have an example: