if you take $10,000 from your bank to put into your bitcoin exchange, shouldnt it be the banks job to see the $10,000 movement and them do the AML stuff, instead of exchanges.
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Yup. Notice how the $10k threshold for banks reporting a financial transaction hasn't been "adjusted for inflation" since it was implemented. $10,000 in 1970 would probably translate into $100k now. It's just yet another sneaky way of increasing capital controls.
As to money laundering, it's a total crock of shit. People buy drugs. So what? Personally I don't do them but with the world headng towards 50% unemployment, what the hell else are people going to do with their lives? Make them legal and end of problem. Weapons for terrorists? Given that the US gov is the biggest terrorist origanization in the world and by far the biggest seller of weapons to other terrorist organizations around the world, this is definitely holier than thou BS.
That prick Lawsky said something along the lines of "better 1000 legitimate businesses fail than one money launderer goes free." Right...
