Ironically, the government is trying to point out the main reason of being strict to this is to minimize the case of money laundering. While on the upper hand most of the law makers from the government are doing the worse thing and that sucks.
The generations today are now seeking more of our privacy because I would rather used my personal information to the things I really needed and have willingly provided it rather than someone or somebody will be using it for their own benefits.
On the other hand tho, this is a global issue therefore other countries just follows the united laws that was created by those first class countries because they were too afraid that there might be a boycott of economic help when it comes to any crisis.
The generations today are now seeking more of our privacy because I would rather used my personal information to the things I really needed and have willingly provided it rather than someone or somebody will be using it for their own benefits.
On the other hand tho, this is a global issue therefore other countries just follows the united laws that was created by those first class countries because they were too afraid that there might be a boycott of economic help when it comes to any crisis.
This is such a bullshit claim by the government, as money laundering could be done in a much simpler way with cash and fake businesses. Money laundering Crypto still requires someone to cash it out at some point -- which can all be tracked on a public ledger. I would doubt someone wants to go through all of the time, and the risk, of attempting to money launder with Crypto when the on-ramps and exit ramps (of fiat) are usually pretty easy to catch.
Who knows what the reasoning is though, as Bitcoin isn't hurting the dollar or being used instead of the dollar (or other fiat currencies) at this time.
