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Re:Tether Critical Announcement by MichaelGG on Tuesday November 21, 2017 @12:39AM (#15745883)
This also illustrates the absurdity of so called "money laundering". Just moving money around between private parties is somehow a serious crime. Hint: It's not. Money laundering is just a cheat code for prosecutors to get easy points when they can't actually find real wrongdoing.

The funny part is that Tethers came into being after Bitfinex was hacked, right, as a way to help them out? Sometimes we say after someone or a company makes a mistake they're less likely to do so again. In this case, "oops"?

Re:Tether Critical Announcement by an_account on Tuesday November 21, 2017 @12:48AM (#15745916)
As you said, moving money isn’t money laundering. No prosecuter is getting a conviction from people moving money.
Re:Tether Critical Announcement by MichaelGG on Tuesday November 21, 2017 @12:53AM (#15745943)
Nah they'll just use those laws to steal your money: http://news.bbc.co.uk/2/hi/africa/5292750.stm
Re:Tether Critical Announcement by kobeya on Tuesday November 21, 2017 @02:52AM (#15746388)
> The funny part is that Tethers came into being after Bitfinex was hacked, right, as a way to help them out?

No, Tether is completely unrelated and existed (or was in the process of being stood up) years prior. It just became widely used in 2017 after some exchanges (bitfinex being a big one) switched to it for USD for a variety of reasons.

Re:Tether Critical Announcement by ActsJuvenile on Tuesday November 21, 2017 @03:54AM (#15746662)
iFinex acquired an ICO called "Tether" that no one cared about. I can help you buy 1 year old ICO for peanuts.

There is a letter signed by iFinex CEO that he owns both Bitfinex and Tether: http://article78againstnydfs.com/docs/317-cv-01882-BitfinexC...

Re:Tether Critical Announcement by goialoq on Tuesday November 21, 2017 @12:59AM (#15745963)
moving money around without record-keeping to prove it wasn't criminally obtained is a serious crime.
Re:Tether Critical Announcement by mdpopescu on Tuesday November 21, 2017 @01:39AM (#15746121)
We know. The point was that it's malum prohibitum (a crime because it's forbidden), not malum in se (evil by itself). [1]

[1] https://en.wikipedia.org/wiki/Malum_prohibitum

Re:Tether Critical Announcement by Nursie on Tuesday November 21, 2017 @02:45AM (#15746356)
Given the way the financial world occasionally fucks everyone, I think that large scale unauditable transfers of cash around the place may well be bad in and of themselves.
Re:Tether Critical Announcement by zaarn on Tuesday November 21, 2017 @03:15AM (#15746504)
I don't really see a difference between the two.

The first is what everyone can agree on is evil and the later is what we haven't agreed on (or not yet).

To quote from the page on malum in se; "The phrase is used to refer to conduct assessed as sinful or inherently wrong by nature, independent of regulations governing the conduct", which I don't think is a thing tbh.

Re:Tether Critical Announcement by jstanley on Tuesday November 21, 2017 @04:14AM (#15746730)
Murdering your wife is wrong by nature.

Moving some money around without telling the government is only illegal because it's illegal.

To me, the difference is whether or not there is a victim. No victim, no wrongdoing.

Re:Tether Critical Announcement by matthewbauer on Tuesday November 21, 2017 @04:59AM (#15746879)
I think its debatable.

If you knowingly helped a murderer dispose of a body, that’s wrong by nature right? Money laundering is the financial equivalent of that.

Re:Tether Critical Announcement by jstanley on Tuesday November 21, 2017 @06:01AM (#15747095)
No, money laundering is the financial equivalent of running a taxi service and not asking any questions about the luggage.

It's not necessarily disposing of a body, and punishing people for moving luggage around without asking questions is obviously absurd.

Re:Tether Critical Announcement by arcticfox on Tuesday November 21, 2017 @08:35AM (#15747730)
Terrible analogy. The number of people that would even have any desire to put something illegal in taxi luggage is very low. The number of people wanting to launder money because they did something truly evil is very high.

International airlines are a better analogy; should we just let people run weapons, drugs, even children in their luggage, with no mechanism for inspection?

Re:Tether Critical Announcement by zaarn on Tuesday November 21, 2017 @04:35AM (#15746786)
Murdering my wife is wrong because I believe it to be wrong. And a lot of people agree with that. I see no reason why the universe at large cares though.

If you don't tell the government you're moving resulting in taxes not being paid properly then you're damaging the government and by proxy, society. Atleast, that's what I think.

Re:Tether Critical Announcement by jstanley on Tuesday November 21, 2017 @06:03AM (#15747100)
Right, then you're tax avoiding, and should be charged with tax avoidance.

In cases where you're not tax avoiding, why does money laundering have to be a separate crime? It comes back to "Money laundering is just a cheat code for prosecutors to get easy points when they can't actually find real wrongdoing."