Comment by ETH_start

Trying to stop money laundering via mass surveillance of people's transactions is futile and creates far more losses than gains for society. It is what's responsible for the epidemic of debanking that has emerged over the last decade.

https://en.wikipedia.org/wiki/Debanking

"The Financial Conduct Authority reported that banks in the UK were closing nearly one thousand accounts daily, with just over 343,000 closed in 2022, compared to about 45,000 in 2017.[4]"

Money transfer is a basic utility and should not be rationed out and gatekept by government regulators.