A recent hack of Evolve Bank and Trust shows the unintended consequence of excessive Know Your Customer and anti-money-laundering laws. One of the most consequential bank hacks of the last few years was just revealed to the public. In a post uploaded to its website two weeks ago, the Arkansas-based Evolve Bank and Trust informed its customers…
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Beginning this year, any individual with shares in an American domiciled company will be required to submit identifying information to FinCEN. This record collection from the US Treasury Department’s Financial Crimes Enforcement Network is intended to “curb illicit finance” by requiring a national database of every “beneficial owner” of an LLC. As stipulated by the Corporate Transparency Act, passed by Congress in…
At BTC Prague in June 2023, I moderated a panel with Marek Palatinus of Satoshi Labs, Anna of Hodl Hodl, and cyberpunk author Juraj Bednar on peer-to-peer Bitcoin practices and no-KYC practices.