People see crypto as something criminal, but the difference with banks is that everyone is bank and everyone can see who sent what to who.
I stuidied a bit of the swiss anti-taxe evasion and some other law used in swiss. Most of these law even with low minimum have been created after some shady affaires where swiss bankers would accecpt large cash euros to escape taxes. 200€ minimum, is probably to prevent injection of illegal funds in swiss economy.
So low, it's only to track citizen everyday transaction. Banksters and greatest tax evaders are chill. !BEER
Yes, its low but in fact the reason such things are there are good reasons too. In the 70's rich ilitalian guys would bring brief case full of cash next to the border (prbly not clean cash) then some swiss bankers took the brief cas and brought i back to swiss, no kyc nor anything they could just change the EURO to CHF and deposit in the bank and launder millions.
Source : https://www.ticino.ch/en/about-us/ett-storico/anni-70/scandalo-chiasso.html,https://www.cdt.ch/news/economia/quando-il-credito-svizzero-fece-scandalo-in-ticino-311540
Having set it at 200 chf or equivalent is a bit low though, but it must be to prenvent from launder of stolen cash or something like that. I might look deeper into it since it's a pretty interesting subject.
Is the 200.- minimum everywhere ?
I mean 200.- are more valuable in the ticino than in zürich so maybe it depends where too.
"Banksters and greatest tax evaders are chill.", depending of who yes. In swiss it became harder and harder. I mean laundering became hard. Tax evasion is still simple, since most of the way to lower tax aren't illegal just some tax things. Which i think i completly dumb. Having multi-billion dollard company paying million in taxes instead of billion.
About the tracking part i don't think here we are in the most tracking country, too much liberty kill liberty and some track need to be done to prevent from some criminal activities. Compex subject !LOLZ
I understand how transferring, withdrawing or depositing money can be money laundering, but not how converting could be.
The low amount requirement is from European Union. I hope Switzerland will never adhere. !PIZZA
If it's from EU, it might have another reason.
Because 200 Euro might not be a lot for us but in some porer country in the EU even 200 Euro can be a lot. Example the poorest Moldova GDP per Adult in 2021: $4,440source insider monkey, with such low revenue/money wealth crime amount are lower so control need to be set lower.
Or something like that.
About the how converting can be laundering, i'm not very sure but basically you can (i think) send as an example 200euro from your BNP account and receive 200.- in your ubs account. If somehow you managed to get the 200 euro illegally the change Buro made it clean.
hmmm, not very clear explanation. As i said i should look deeper into it before saying anything so i don't say shit haha.
There should be a lot of ways to launder money. I'm not well informed about that.
200€ is a year salary in Burundi. I consider myself as lucky to be born in Switzerland. !BBH
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