KYC is AML theatre and everyone in law enforcement knows it; it persists bc no one can come up with a better way that doesn't also hamstring LE

and people wonder why defi is gaining in popularity
---
RT @bramcohen
People talk about KYC like it's sacrosanct. It is not. It's a program which should have been cancelled long ago on its own merits and discussing it in the realm of cryptocurrency is a cynical attempt by the banks to quash a po…
https://twitter.com/bramcohen/status/1594061157769150464