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augustl | 2 years ago

I would love to see analysis on the trade offs with KYC and AML. How much does it actually help in fighting crime? Vs. all of the lost opportunities due to all of the red tape and regulatory blockers for legitimate business models.

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Maxion|2 years ago

Very very hard to get a number on this.

From experience I can say that it reduces crime, but it does create massive issues too.

Problems are current regulations aren't risk based, which results unproportional compliance costs.