‘Find a Path That Allows for Crypto Innovation’: Coinbase US Policy Chief
Unpopular Opinion: KYC is an ineffective means to catch money laundering and crime, and creates a moral hazard of all the data of innocent people caught in the dragnet. That data will be stolen and used against innocent people. The paradigm creates more crime than it stops.
— Bob McElrath (@BobMcElrath) October 24, 2019
See the correct analysis of this news is that AML/CTF and KYC don’t work. They will never work because they try to control the *tool* not the *criminal act*. It’s not the money that is illicit, it’s the use of that money to commit crimes.
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— Andreas (@aantonop) September 21, 2020
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