bitcoinwell on Nostr: American Express was fined $350,000,000 this week. Not for moving dirty money. For ...
American Express was fined $350,000,000 this week.
Not for moving dirty money. For not watching its customers closely enough. The regulator's own words: a failure to "sufficiently report approximately $13 billion of suspected" activity and "to provide important information to law enforcement."
The fine goes to the Treasury.
That's your bank's job description in one document: watch you, report you, and pay the government when it doesn't.
Bitcoin was built so that holding money didn't require being watched by whoever holds it for you.
Published at
2026-10-10 13:24:29 UTCEvent JSON
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"content": "American Express was fined $350,000,000 this week.\n\nNot for moving dirty money. For not watching its customers closely enough. The regulator's own words: a failure to \"sufficiently report approximately $13 billion of suspected\" activity and \"to provide important information to law enforcement.\"\n\nThe fine goes to the Treasury.\n\nThat's your bank's job description in one document: watch you, report you, and pay the government when it doesn't.\n\nBitcoin was built so that holding money didn't require being watched by whoever holds it for you.\n\nhttps://pbs.twimg.com/media/HUN3FxmXgAAW9mD.jpg",
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