What rules are regulations based on anyway. It seems like whatever rules the regulations are based on, are already in effect, and that regulations dont add much. They can even do more harm than good.

faithandcredit

Correct me if I am wrong, but KYC and AML are about preventing criminal activity of their users, not of the platform itself.

But FTX bragged about being the most regulated exchange iirc. So this proofs that regulation doesn't always work.

bitcoin

So Tired of KYC

bzzzt

FTX proved the assumptions surrounding KYC and AML wrong. KYC and AML does not lead to less criminal activity.