quotingThree weeks ago I wrote an article on the EU's new AMLR in Bitcoin Magazine, detailing how the EU passed ALM laws restricting the use of Bitcoin privacy tools without any data to back up their claims that privacy heightens money laundering and terrorist financing risks.
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Alex Stachtchenko took it a step further and ran the numbers. For every Euro confiscated, 200€ are spent. This means that the EU's AML compliance costs of 144B Euro exceeds all money ascribed to crime per year at 110B Euro – and still, 99% of criminal profits escape confiscation.
Despite their absolute inefficiency AML laws continue to be expanded, subjecting all EU citizens to total financial surveillance for the price of catching 1%. It is a system that has grown completely out of control and is in no way proportionate to the right to privacy enshrined in the Charter of Fundamental Rights of the European Union, the UN's Universal Declaration of Human Rights, and the International Covenant on Civil and Political Rights.
It's a long read, and its in French so you'll need to translate it, but I guarantee that it will be worth every minute of your time.
BM article:
https://bitcoinmagazine.com/legal/eu-parliament-adopts-aml-laws-regulating-bitcoin-based-on-questionable-assumptions
Alex' article:
https://medium.com/@AlexStach/les-d%C3%A9rives-de-la-surveillance-financi%C3%A8re-menacent-nos-d%C3%A9mocraties-323fbdc1ccbf
sItE Is iN MaInTeNaNcE MoDe on Nostr: and yet not one word from you or shitcoin magazine about how plebs are being fleeced ...
and yet not one word from you or shitcoin magazine about how plebs are being fleeced into ponzi schemes and reducing their own on chain privacy willingly via ordinals and other shitcoin schemes that abuse the current datacarriersize exploit that everyone blindly running core instead of knots is supporting. Start talking about the real issues you fucking phony