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Capital controls are starting. Attempting to slow the exits.

Already happened in 🇬🇧 with exchanges via banks. Expect more of this type of news in 🇺🇸 & 🇪🇺

I deposited some USD in Paxos and I had to go through a long AML process in which they asked for a lot of documentation and took a few weeks in total. I've used Paxos in the past and sometimes they asked for documentation but it was never like this. Maybe this is capital controls?

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Discussion

David W 2y ago

Sounds like it. More and more bureaucracy and record-keeping, to ruin the experience and make you think twice next time.

Traditional banking needs a spanking

David W 2y ago

Eventually AML just becomes ‘computer says no’ 🚫