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TechFlow news, on December 1, Coinbase CEO Brian Armstrong posted on social media stating that anti-money laundering (AML) regulations are a policy failure. They cost approximately $213 billion annually, harm legitimate consumers, and according to United Nations data, prevent only about 0.2% of illicit activities. Brian Armstrong added that this sounds like a job for the U.S. government's Department of Efficiency.
Coinbase CEO Brian Armstrong posted on social media saying that anti-money laundering (AML) regulations are a policy failure. They cost about $213 billion annually, harm legitimate consumers, and according to United Nations data, prevent only about 0.2% of illicit activities. Brian Armstrong added that this sounds like a job for the U.S. Department of Government Efficiency.
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