News for hackers. Stuff that matters.

A comment on Is it legal to mix cash in a jar? How is Bitcoin mixing any different?. Parent comment

Re:Is it legal to mix cash in a jar? How is Bitcoin mixing a... by Deprecate9151 on Tuesday November 21, 2023 @07:23PM (#38372713)
If you're doing it because of a hard cap on the withdrawal amount it's not structuring. You have to be doing it with the specific intent to avoid required reporting.
[ Parent | on HN ]
Re:Is it legal to mix cash in a jar? How is Bitcoin mixing a... by buildbuildbuild on Tuesday November 21, 2023 @07:39PM (#38372881)
You don't have to be doing anything wrong. You only need to appear suspicious to a compliance algorithm and you're suddenly unbanked with no explanation or recourse.

Today's banks are over-compliant and won't care to dig into your intent.

See: https://www.nytimes.com/2023/11/05/business/banks-accounts-c...

[ Parent | on HN ]
Re:Is it legal to mix cash in a jar? How is Bitcoin mixing a... by renewiltord on Tuesday November 21, 2023 @07:36PM (#38372851)
Right. I agree. That's how I'm saying it's similar to the OP: it's the intent that makes it one or the other.
[ Parent | on HN ]