Re:US makes Bitcoin exchange arrests
by shotwell on Tuesday January 28, 2014 @01:29AM
(#7135686)
> Money laundering is part of the criminalization of victimless drug use. That's why they were created, and that's how they're used. Nothing more, nothing less.
Your claim made me curious. According to the American Banker's Association, the Bank Secrecy Act was motivated by fears over foreign bank schemes and crime (specifically, the ABA mentions white collar crime). The law also sought to correct practical problems, such as grocery stores failing to photocopy checks. I think this undermines your main point about drugs, along with the fact that the "war on drugs" started after the BSA was passed in 1970.
Your claim made me curious. According to the American Banker's Association, the Bank Secrecy Act was motivated by fears over foreign bank schemes and crime (specifically, the ABA mentions white collar crime). The law also sought to correct practical problems, such as grocery stores failing to photocopy checks. I think this undermines your main point about drugs, along with the fact that the "war on drugs" started after the BSA was passed in 1970.
http://www.aba.com/Compliance/Documents/07cbe87f05f94aa8b84f...