First Bitcoin “mixer” penalized for violating anti-money laundering laws

Re:First Bitcoin “mixer” penalized for violating anti-money ... by chris_wot on Monday October 19, 2020 @04:30PM (#24830654)

Indeed, it wouldn’t take much for them to legislate to make the whole ring signature mechanism illegal.

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Re:First Bitcoin “mixer” penalized for violating anti-money ... by kenniskrag on Monday October 19, 2020 @06:15PM (#24831626)

Or you just can't exchange crypto currencies against dollars because the finance industry is already regulated and has to follow the rules.

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Re:First Bitcoin “mixer” penalized for violating anti-money ... by bdcravens on Tuesday October 20, 2020 @12:30AM (#24833933)

All really has to happen is to make ACH transfers to cryptocurrency exchanges illegal. Banks will very happily comply with blocking those transactions.

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Re:First Bitcoin “mixer” penalized for violating anti-money ... by krageon on Tuesday October 20, 2020 @03:58AM (#24834894)

You could just buy and sell them for cash, you don't need banks for that

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Re:First Bitcoin “mixer” penalized for violating anti-money ... by kenniskrag on Tuesday October 20, 2020 @07:33AM (#24836179)

Depends on the country but if you exchange money you have to comply with regulatory rules.

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Re:First Bitcoin “mixer” penalized for violating anti-money ... by krageon on Thursday October 22, 2020 @08:36AM (#24857332)

Rules are only interesting when it's likely that you can be forced to follow them. In this case, they're not germane.

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