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2min chapter
The Disrespected
Risk of Ruin
Silver Gate's Compliance First Culture Doesn't Pass the Laugh Test
The CFTC recently sued Binance for ignoring us regulations and in the complaint, they showed internal messages were exchange employees treated anti money laundering requirements as a joke. Alan Lane's claim that Silver Gate had a compliance first culture doesn't pass the laugh test. If you hooked most people in the crypto world up to a lie detector and ask them whether any of these companies should have to comply with us law, they would admit the truth. These banks are up your ass so hard it's not even funny because of AML KYC stuff. They need your driver's license. They need utility bills. They need everything, right?
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode