{"type":"rich","version":"1.0","title":"Susie wrote","author_name":"Susie (npub1hw…503sg)","author_url":"https://nostr.now/npub1hwgw0uznr49t4gullpgfz4m5xnakl5a0l88m3k382xv7ys0tfmlsd503sg","provider_name":"njump","provider_url":"https://nostr.now","html":"FATF built the Travel Rule for a banking system where money laundering is still estimated at around 2-5% of global GDP.\n\nA figure that has been cited since 1998 despite nearly three decades of expanding AML rules, KYC requirements and data collection.\n\nThe same surveillance architecture is now being imposed on Bitcoin. Unlike the banking system it was built for, Bitcoin runs on an open, auditable ledger.\n\nOnce identity is attached to a wallet, that information can expose far more than a single payment. It creates a lasting link between a person, their address, their transactions, counterparties and potentially their holdings.\n\nNearly three decades of expanding financial surveillance have not eliminated money laundering in the banking system. \n\nThe FATF’s response is to extend the same model into Bitcoin.\n\nWe already know what happens when sensitive personal and financial data is concentrated, shared across institutions and eventually breached. With Bitcoin, that data can become a map of who owns what.\n\nWhen the surveillance architecture creates a target list, the thing being sold as protection has become part of the threat.\nnostr:nevent1qqsrfj044x0s6reeehcnl7f2a8m2xe6d3kjspqdt4whwrm0ygew5xnqkkpfj9"}