> colonising mars, as this is basically the only way you'll avoid KYC/AML
Not really.
As it is customary with financial law, it only exists to make hard working people suffer, while leaving all the ways for criminal enterprises to continue business. Being Ukrainian person I can tell you with confidence that legalizing personal 1000 USDT made on a freelance job is harder than laundering $1m made by corruption by government officials.
Also, KYC/AML is not binary, it's a scale. I have no problem KYCing at my local Polish bank and sending my crypto transactions to my bank account and they are fine with it as well as long as they know who I am.
> in the long-term.
True. Operating a legitimate (!) clear business, say, in Singapore remotely from Ukraine was a routine thing like ten years ago and became almost impossible in 2020s - specifically due to American regulatory pressure. Again, we're talking about lawful businesses. Criminal enterprises have no problems opening bank accounts anywhere they want.
> (well actually the US government) has decided that KYC etc matters to
...American political interests. KYC/AML is detrimental to economic growth and harmful to the society as been demonstrated time and again.
> True. Operating a legitimate (!) clear business, say, in Singapore remotely from Ukraine was a routine thing like ten years ago and became almost impossible in 2020s - specifically due to American regulatory pressure. Again, we're talking about lawful businesses. Criminal enterprises have no problems opening bank accounts anywhere they want.
Can you give me some more details on this? My understanding was that only the sanctioned parts of Ukraine were impacted by recent changes, but perhaps I'm wrong.
> only the sanctioned parts of Ukraine were impacted
First of all, banks couldn't care less about telling apart different species of Ukrainian people. Second, for any bank in the world it's a matter of cost of finmonitoring. And for each and every customer the cost of compliance is always higher than the profit from this person's transaction. Therefore, banks have strong incentive to refuse service for any person that is remotely unordinary. Hence "debanking": https://en.wikipedia.org/wiki/Debanking
Not really.
As it is customary with financial law, it only exists to make hard working people suffer, while leaving all the ways for criminal enterprises to continue business. Being Ukrainian person I can tell you with confidence that legalizing personal 1000 USDT made on a freelance job is harder than laundering $1m made by corruption by government officials.
Also, KYC/AML is not binary, it's a scale. I have no problem KYCing at my local Polish bank and sending my crypto transactions to my bank account and they are fine with it as well as long as they know who I am.
> in the long-term.
True. Operating a legitimate (!) clear business, say, in Singapore remotely from Ukraine was a routine thing like ten years ago and became almost impossible in 2020s - specifically due to American regulatory pressure. Again, we're talking about lawful businesses. Criminal enterprises have no problems opening bank accounts anywhere they want.
> (well actually the US government) has decided that KYC etc matters to
...American political interests. KYC/AML is detrimental to economic growth and harmful to the society as been demonstrated time and again.