[encoderer]

Yes it was not hard.

But why are we adding draconian punishments for new business paperwork?

Why are you ok with that part?

Why shouldn’t this just be a fine?

We really should not be ok with this if you wouldn’t personally be ok with a friend going to jail who failed to file. I, for one, am definitely not.

[immibis]

A fine is just a cost of doing business, and the kinds of entities that this targets would happily just pay the fine to continue being anonymous.

[encoderer]

This along with AML/KYC are the new war on drugs. Probably worse to be honest: a compliance regime that costs lawful businesses billions of dollars to navigate, always getting larger, always getting more draconian.

It’s crazy we accept this. Where is the proof any of this is working at all?