Birdwatch Note Rating
2023-12-13 07:16:18 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 5D5B2E10C374336739E19CBE303120563E7D2607936AC933FFEA3111853CEDF5
Participant Details
Original Note:
The anti-money laundering regulations the proposed legislation would extend to crypto have failed to stop 99.9% of illicit financial flows per UNODC data, and has exacted global compliance costs greater than $274 Billion in 2022—a cost expected to continue rising in 2023. https://www.unodc.org/toc/en/crimes/organized-crime.html https://www.oxfordeconomics.com/resource/cutting-the-costs-of-aml-compliance/
All Note Details