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by afroboy 111 days ago
Binance is not an American company and sending money to Iran or Palestine or Hamas is something should not be up to Americans to decide, i personally will not accept Americans be the police of the world they did so much horrible things and terrorising Muslims for so many years.

I hope for the day the world will be decoupled from dollar as universal currency. That day countries will free to trade with each other without worrying about some orange head with low IQ.
2 comments
disgruntledphd2 111 days ago
> Binance is not an American company and sending money to Iran or Palestine or Hamas is something should not be up to Americans to decide, i personally will not accept Americans be the police of the world they did so much horrible things and terrorising Muslims for so many years.

Doesn't matter, tbh. Regardless of the philosophical viewpoint here (which I do agree with), AML and Bank Secrecy type laws exist basically everywhere, and are no joke. They're one of the few things that bank executives go to prison for.

And like, Binance were just convicted of this a few years back. I wouldn't be surprised if the US government tried to shut them down at this point. And if Binance are persona non grata to the US government then they're out of the dollar system which basically cuts them off from almost the entire banking system.

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embedding-shape 111 days ago
> Doesn't matter, tbh.

It does matter, for non-Americans, that America isn't the world police and doesn't dictate laws, norms and how other countries behave. Maybe it used to be relatively fringe to have this point of view, but last few years really vindicated this point of view, and I agree that many countries in the world should continue focusing on decoupling themselves from the US, this particular issue highlights one motivation for doing just so.

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disgruntledphd2 111 days ago
> It does matter, for non-Americans, that America isn't the world police and doesn't dictate laws, norms and how other countries behave. Maybe it used to be relatively fringe to have this point of view, but last few years really vindicated this point of view, and I agree that many countries in the world should continue focusing on decoupling themselves from the US, this particular issue highlights one motivation for doing just so.

All of these (American driven) laws exist in basically every country at this point, and it's gonna be a struggle to remove them. Like, how would you even spin this as a good change?

I personally regard AML laws as problematic as they weaponise the financial system against its citizens with no democratic right of reply, but that doesn't change the fact that these laws exist basically everywhere and aren't going to be repealed.

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embedding-shape 111 days ago
> Like, how would you even spin this as a good change?

I'm not American, why would I want American laws to apply to me? How could you possibly spin that as a negative change?

> but that doesn't change the fact that these laws exist basically everywhere

So you're saying that there is a Maltese law (or whatever jurisdiction Binance actually is right now) that is saying Maltese companies cannot do business dealings with anyone from Iran? That's the important part, not whatever the US laws says.

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disgruntledphd2 110 days ago
There are AML and sanction laws everywhere, yes. However the US sanctions are mostly enforced by not letting the offending banks transact in dollars, which are basically controlled by the US government. Because the US dollar is the world reserve currency, this normally causes banks to comply with this legislation and sanction lists.
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embedding-shape 110 days ago
Yes yes, we understand you, if you want to participate in the USD, you follow US embargoes, you have repeated this without actually answering any questions like 5+ times in this submission now, I think most of us understand the point you're trying to make when you keep repeating it.

They don't exists in every country, the question then becomes do they exist wherever Binance is actually headquartered?

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mlrtime 111 days ago
America doesn't dictate laws in the way you describe. However if someone is claiming to be an enemy of the state, it is the the federal government's duty to protect itself and it's citizens. This is [one of] the core responsibilities of the government.
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disgruntledphd2 111 days ago
> America doesn't dictate laws in the way you describe.

In this particular case they do, because they cut banks off from the dollar system if they interact with sanctioned entities. It's probably one of their most effective weapons against their "enemies".

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zeroCalories 111 days ago
If the U.S decides to not work with, or allow its citizens to work with a company, that should be up to them.
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