"""
...Binance willfully failed to report well over 100,000 suspicious transactions that it processed as a result of its deficient controls, including transactions involving terrorist organizations, ransomware, child sexual exploitation material, frauds, and scams.
Terrorist Financing. Binance failed to report to FinCEN transactions associated with terrorist groups including Al Qaeda, the Islamic State of Iraq and Syria (ISIS), Hamas’ Al-Qassam Brigades, and Palestinian Islamic Jihad (PIJ).
Ransomware. Despite being one of the largest receivers of ransomware proceeds, and transacting in millions of dollars of ransomware proceeds from attacks involving at least 24 different strains of ransomware, Binance failed to report these transactions.
Child Sexual Abuse Materials. Binance never reported transactions with websites devoted to selling child sexual abuse materials, including Dark Scandals.
Darknet Markets, Scams, and Other Illicit Activity. Despite sending and receiving virtual assets proceeds from large-scale hacks, account takeovers, and darknet markets dealing in illegal narcotics, counterfeit and fraud-related goods and services, as well as other illegal contraband, Binance never reported any such transactions.
"""
The ability of people to freely exchange a store of value is something governments don't like. They want the power to veto transactions and declare people or entire countries impossible to trade with.
Whereas on the classical side of wealth, gorillions are held by anonymous layers of legal bodies that allow quick shifting of assets out of taxation and circumvent eg. weapon embargos.
Its the messiness the article speaks about and it mostly works for the few and not the many.
It would be helpful for us to realize that it is that what goverments do like, aka sustain, because the existing power structures rely on it.
I am not sure whether "tinking about the many" was ever a serious part of bro cultulture.
Is it a bad thing?
Would the world be better if no sanctions, no anti money laundering rules, no financial regulations could be applied by governments?
Generally yes. The nuanced view: People who can handle freedom responsibly so (just like having a driver's license) should be allowed to do so. The rest can be protected from their own stupidity by big brother if they want to. Essentially both options must be available in a truly civilized society.
I don’t think anyone has squared the circle on absolute freedom versus nation destabilizing terrorism and child abuse. You seem to have just said, eh, oopsie doopsie.
Why is it always child abuse.... I'm so glad the fertility rate is dropping so maybe ill finally get a breath of fresh air and we can do away with some of these scare tactics once there's none left to abuse.
I will note governments also want to do the same to any communication between two individuals (not just communication about an economic transaction). Do you have the same attitude to that?
Well for the USA perspective i guess but for others like me who believes in Alqasam brigades and Palestine moujahedeen i don't like how USA try to tell me what i should think of them or not to try to finance them.
Case of point that USA serve it own interest and is not always right and i shouldn't bound by it evil point of view. so i have the right to finance the good guys who try to survive against a terrorist nation for example.
Back in time Algerian rebels were considers terrorists just go back and read new york times and see how they were depicted, after they got their freedom now they're considered the good guys who fought the evil french colonizers.
https://home.treasury.gov/news/press-releases/jy1925
""" ...Binance willfully failed to report well over 100,000 suspicious transactions that it processed as a result of its deficient controls, including transactions involving terrorist organizations, ransomware, child sexual exploitation material, frauds, and scams.
Terrorist Financing. Binance failed to report to FinCEN transactions associated with terrorist groups including Al Qaeda, the Islamic State of Iraq and Syria (ISIS), Hamas’ Al-Qassam Brigades, and Palestinian Islamic Jihad (PIJ).
Ransomware. Despite being one of the largest receivers of ransomware proceeds, and transacting in millions of dollars of ransomware proceeds from attacks involving at least 24 different strains of ransomware, Binance failed to report these transactions.
Child Sexual Abuse Materials. Binance never reported transactions with websites devoted to selling child sexual abuse materials, including Dark Scandals.
Darknet Markets, Scams, and Other Illicit Activity. Despite sending and receiving virtual assets proceeds from large-scale hacks, account takeovers, and darknet markets dealing in illegal narcotics, counterfeit and fraud-related goods and services, as well as other illegal contraband, Binance never reported any such transactions. """