“If you have this way to move money with absolutely zero checks on it, you’re facilitating an unlimited amount of crime,”
This is insane. Should the same logic not apply to speech or movement or food or any kind of technology?
I witnessed more than $130,000 in transactions with these operators, who rarely asked for identification and, on one occasion, openly discussed handling dirty money.
Guy spent how much time researching this? Spent just an hour online and you can find put about much much larger sums of illegal money being used I'm the traditional financial system.
“We don’t know who’s using them or why they’re using them.”
This is the problem: there is no reason that any government should always know what you are doing. They act like their lack of insight into your affairs means you are a criminal. This attitude should never be the basis of financial regulation. It's insane that we've gotten to this stage.
In an increasingly common scenario, investigators trace illicit asset flows to secretive crypto wallets whose owners they cannot identify and whose assets they cannot seize.
Secretive crypto wallets = a normal address they don't know anything about.