| >>Crypto trading is high-suspicion for two reasons Unacceptable in a free society. Probable cause is not reasonably construed based on these types of crude generalizations. Due process means only a court can judge there to be probable cause, and that a search can only be done after it issues a warrant. A court would never rule probable to exist based on the type of formulaic rationale you're using. The kind of KYC scrutiny innocent people are subjected to, based on much flimsier bases than even you have speculated existed in my case, is obscene. When the private financial interactions and investment strategies of every one become privy en masse to a self-appointed class of surveillance agents, it creates information asymmetries between the general citizenry and those close to the state/regulated-industries. And information asymmetries lead to wealth and power disparities. The surveillance state you are championing will inevitably lead to wealth and power concentrating into the hands of a tiny cadre of privileged insiders and that will lead to massive economic waste from rent-seeking and social instability. There is no future for a liberal democratic society if the trend toward unchecked surveillance powers for the state is not arrested and reversed. |
Except they can (in practice and in contradiction to rules), and have done similar things in the past. The system really doesn't care about people's rights, mistakes are endemic and ignored, and it is more interested punishing people or collecting money than actual justice. At least that has been my experience.