Comment by woah
2 hours ago
This is a heavily editorialized and misleading submission title. The only thing on this page that could be construed to have anything to do with the submission title is that this organization appears to be lobbying the EU not to make self-hosted wallets (where you control your own keys) illegal.
The concerning aspect is 1 of 6 objectives so it’s no minor goal. The transmission to self-hosted anonymous wallets is what makes crypto so effective for fraud, sanction evasion, money laundering and other crimes. It clearly fails FATF Recommendation 16 and virtually all KYC standards. Seeing Coinbase and a German exchange support such an objective is rather unexpected.
All my life I've dreamt of fighting for and fulfilling FATF Recommendation 16. :D
I can only imagine what a nightmare real life must be like :D
I agree — I don’t see the connection between the items mentioned on the page and flat out AML/CTF evasion as the title suggests. If I’m wrong, someone please connect the dots.
To be fair ditching AML/CTF would be _good_, but that isn't what is going on in this article.
That argument can well be made, given how (un) effective it is. But what would be the alternative?
Does there need to be one? It's not clear to me where the moral good comes from AML in the first place. That's why things like Monero are so exciting.