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SLP318 Ronald Pol - The ineffectiveness of AML

Stephan Livera Podcast

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Is There a Honey Pot Risk in Bitcoin?

When banks and pitcoin exchanges are forced by the law to collect ky c, this now creates a honey pot that some malicious party could try to get. And especially in the case of bitcoin, where there's no takebacks, there's no bail out. If they know that, let's say stephon levera k y c at exchange a, and then that dartaways later, gets hacked, then they have my name, my address, how many coins i have. That that represents a very serious honey pot risk as well. In a lot of these issues are not being well addressed. There is an assumption, an underlying assumption, that we need identification,. We need all sorts

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