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Whether KYC/AML laws make sense is totally beside the point. That's like saying because cannabis being illegal makes no sense, therefore it makes sense to sell cannabis publicly in large quantities and not comply with any laws.

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I understand this, but what I mean by this is that the infringement then is logically also small since the quantifiable infraction is in reality small compared to those whom the officials deem to be compliant.

They are charging the owners of a non American company that banned most Americans with violating US banking laws. Even tho Bitmex never used a US bank, is not a US company and only used bitcoin for transactions

While the US does love exporting our/their rule of law outside, the internet creates an interesting problem with jurisdiction. By serving customers in the US, have they subjected themselves to US law?[a] Many times before, the courts have found that an American company doing business in State X meant they could be sued there. But they’ve also found otherwise. It’s an interesting question that doesn’t seem to have a clear answer.

[a] When visiting another country, it’s very clear you’re subjecting yourself to their laws (I can’t visit France and expect only US laws will apply to me), but the internet (a global system) poses a problem.

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