One may not really look at KYC/AML as an epidemic created to inflict more poverty on people, to shut out competition with the banks and restrict innovation.
This interesting article will reveal some hidden secrets to you...
Privacy issues aside, these requirements have ended up excluding an ever-increasing number of groups from the financial system. Immigrants, poor people and anyone without "appropriate" government-issued ID is left out of the formal financial sector.
Article Source: https://www.coindesk.com/theres-a-bigger-scam-than-anything-in-crypto-its-called-kyc-aml/
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