Post
Topic
Board Trading Discussion
Re: FinCEN says you must be MSB if you sell bitcoins for $
by
kiba
on 18/10/2012, 20:55:07 UTC
Part of the political platform for some Bitcoin users is to destroy all AML programmes.  Others simply want a convenient, low-cost payment system.  Some want to get rich speculating on BTC value.  It's ridiculous to assume that everyone who uses BTC does so for ideological reasons when it's pretty obvious that large sections of this community are only interested in BTC for making short-term profits and don't give a shit about political platforms if they can use BTC to increase their income/wealth right now.

AML programs are harmful to bitcoin, because they impose a large cost for dubious benefit on users of exchanges.

Also, banks hate it too. Make it more costly for them to earn money. They don't give a damn about their customers practicing tax evasion and other nonsense.