> The original definition was putting tax and KYC requirements on people who don’t have, and can’t get, that information.
You fundamentally misunderstand regulation. If someone can’t/won’t do something, regulation is enacted to either compel them or to outlaw their behavior.
Your tacit suggestion that because miners can’t do something means the law is flawed, is akin to saying “oh well burglars won’t pay for the goods so oh well”. If we pass a law that miners can’t follow, then mining becomes illegal. We do this all time, especially in finance.
A more realistic example is “WhatsApp is E2E encrypted so traders can’t be monitored”. This means WhatsApp is a non-compliant (“illegal”) facility to transact in most regulated markets.
You fundamentally misunderstand regulation. If someone can’t/won’t do something, regulation is enacted to either compel them or to outlaw their behavior.
Your tacit suggestion that because miners can’t do something means the law is flawed, is akin to saying “oh well burglars won’t pay for the goods so oh well”. If we pass a law that miners can’t follow, then mining becomes illegal. We do this all time, especially in finance.
A more realistic example is “WhatsApp is E2E encrypted so traders can’t be monitored”. This means WhatsApp is a non-compliant (“illegal”) facility to transact in most regulated markets.