This was inevitable. It’s already the de facto direction in most companies. Nobody can seriously run an already high-risk business while also seriously pursuing a big tent political agenda of any sort. And energy wasted on political theater serves neither business nor politics.https://twitter.com/brian_armstrong/status/1310301482101563392 …
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Replying to @vgr
I dunno, as a customer, I sure wish that this guy whose company operates a platform for transacting with a system that is regularly used to fund terrorism would speak out against domestic terrorism
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Replying to @kevinriggle @vgr
Like Coinbase have actually done a pretty decent job as far as I can tell of keeping both foreign and domestic terrorism funding off their platform, I don't have a complaint there, but it's not out of ambit to expect them to reiterate their commitment to that work
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Replying to @kevinriggle
It’s a job for regulators to put anti-laundering regulations in place. Brian’s indicates willingness to engage on that front. Afaik they’re actually eager for that, not resistant.
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Replying to @vgr
Anti-terrorism financing regs are different than anti-money laundering regs. And usually rely on the federal government to designate certain orgs as terrorist orgs, which, given that several domestic terrorist organizations vocally support this present administration...
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Replying to @kevinriggle
Okay, but still not the job of a business beyond areas where they have better technical capabilities than law enforcement. Political statements by CEOs achieve nothing.
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And note that traditional banking is full of this shit (cf DeutscheBank and Trump). It’s not a new problem. Incentivizing political signaling theater does zilch for actually solving such problems.
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