[hnthrow1010]

Basically, the "sanction preventions" Aave is instituting are for show only, in hopes they fool the regulators. They'll annoy and disturb the casual crypto trader but will do nothing to stop the big criminals from money laundering. I hope the developers of these defi lending protocols get hit with the criminal charges next.

[SparkyMcUnicorn]

> I hope the developers of these defi lending protocols get hit with the criminal charges next.

It's pretty crazy how all the arguments for freedom of speech (and software) go out the window for many people whenever cryptocurrency comes up.

[verdverm]

It's pretty crazy how some people think all speech is protected or that running software is somehow protected by the same laws that protect speech.

[sneed-oil]

Developers can write a smart contract without running it on their hardware, the people running it are miners.

[sneed-oil]

Do you also believe artists should be punished if their works of art are used to launder money?

[hnthrow1010]

When the "artists" have been openly and shamelessly stating, since around 2009, that the entire purpose of their "art" is to aid in laundering money and other crimes? Yes, absolutely.

[sneed-oil]

Did the AAVE developers say that?

[hnthrow1010]

If they're smart, they wouldn't admit to it publicly. But do you not remember the early history of Bitcoin, and the Silk Road? Nothing's changed since then, except some people got arrested and some haven't yet.

[robertlagrant]

> openly and shamelessly stating, since around 2009, that the entire purpose of their "art" is to aid in laundering money and other crimes?

Becomes

> If they're smart, they wouldn't admit to it publicly.

Let me guess. Your favourite castle is motte and bailey?

[hnthrow1010]

>Your favourite castle is motte and bailey?

Less of this, please. Obviously, not everyone into crypto and defi says those exact words. But there are enough saying that type of thing, where I think it's wrong of anyone involved with this to feign ignorance. They know what they're getting into.

[sneed-oil]

What's wrong with buying and selling drugs?

[hnthrow1010]

I really don't think you want to continue the discussion in the direction of "what's wrong crime A and crime B", that'll get off the rails very quickly.

[IshKebab]

Well yeah if the art is explicitly designed to make money laundering easy, of course!

[sneed-oil]

Is AAVE explicitly designed to facilitate money laundering?

[hnthrow1010]

By association, yes. All cryptocurrency and "defi" ostensibly has that goal. What is it exactly you think they're trying to "decentralize"?

[sneed-oil]

Transactions and storage of money. You could also argue that artists who sell their artworks for huge sums of money are associating themselves to money laundering.

[hnthrow1010]

Transactions and storage of money are already decentralized, through the traditional finance system that connects at least thousands of banks and payment processors and other financial institutions. So it can't be that.

>You could also argue that artists who sell their artworks for huge sums of money are associating themselves to money laundering.

Yes, that's why transactions for those huge sums are subject to AML laws.