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Nobel Laureate Steve Hanke: El Salvador's Bitcoin Law Is Destined to be Caught in the FATF's Regulatory Web
Summary: Steve Hanke, professor of economics at Johns Hopkins University and a Nobel laureate, tweeted today that for Bitcoin transactions in El Salvador, it is almost impossible for both parties to provide complete KYC information as envisaged by the Bitcoin law. Red flags by the Financial Action Task Force (FATF) are imminent. Hanke, Nicholas Hanlon, and ...
Steve Hanke, professor of economics at Johns Hopkins University and a Nobel laureate, tweeted today that for Bitcoin transactions in El Salvador, it is almost impossible for both parties to provide complete KYC information as envisaged by the Bitcoin law. Red flags by the Financial Action Task Force (FATF) are imminent.
Hanke, Nicholas Hanlon, and Parth Thakkar co-authored "El Salvador's Bitcoin Law Is Destined to be Caught in the FATF's Regulatory Web". It states that if the Bitcoin law is really implemented, El Salvador's banks, merchants and their customers will conflict with FATF's regulatory agencies and fall into the FATF's regulatory network.
By Amy Liu
Tags: Bitcoin Law,El Salvador,FATF,Steve Hanke
Link: Nobel Laureate Steve Hanke: El Salvador's Bitcoin Law Is Destined to be Caught in the FATF's Regulatory Web [Copy]
