[newacct583]

AML reporting requirements cover cash transfers too, though. Yes, there are more holes in the protocols because of the messiness of the medium (broadly it's the same thing crypto regulation would face), but in general MANY people who would have to touch that cash you're hoarding are required to report large transfers.

Money laundering is a crime, all by itself. It doesn't matter where the money comes from or what form it takes. The spirit behind AML legislation, long established, is that the government has the right to see where money is held and to whom it is transferred.

Minutiae about mechanism might appeal to software nerds, but it doesn't address the underlying issue. This fight was fought, and lost, more than half a century ago.