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RE: How Bitcoin and other Crypto’s will fix the World’s Parasite Problem
To combat money laundering, regulatory agencies around the globe require companies to ‘know your customer’ (KYC). In theory, if all participants in a transaction have sufficient details about the parties they’re doing business with, then it will be far more difficult for criminals to launder their ill-gotten gains.
Until you realize that the people running the system are the biggest criminals of all.