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Issue #832: FATF "Red Flags"

Issue #832: FATF "Red Flags"

Sep 25, 2020
Marty's Ƀent

Issue #832: FATF "Red Flags"

Our least favorite supranational regulatory body staffed with unelected bureaucrats who wake up every day and think about how they can make life harder for the humans on the planet has published a report; Virtual Assets Red Flag Indicators. In it, they lay out, as you may be able to guess by the title, red flag indicators authorities should look for when surveilling "Virtual Asset" users. Now before I go into my FATF bashing, I should note that FATF is saying that these actions don't necessarily mean individuals are engaged in illicit activity... yet.

via FATF
via FATF

The actions being defined as red flags include using a hardware wallet, using a paper wallet, using a VPN, using a P2P exchange, using a Bitcoin ATM, and trading between Bitcoin and other cryptocurrencies. Essentially, FATF is saying that if you are a human on this planet that attempts to preserve privacy you are to be issued a red flag for potentially being engaged in an illicit activity. Properties and tools that are core to Bitcoin's ethos of self-sovereignty are being identified as potential naughty behavior. Attempting to hide from the watchful eye of the global financial surveillance vampire squid, which enables some of the worst criminals and kleptocratslive alive, is now something to be flagged. There is no escape without their permission.

While these activities are simply indicators of actions that potential criminals may take, it is pretty clear that many people, including your Uncle Marty, has engaged in some of the activities that may initiate red flags. I use hardware wallets and VPNs. I'm sure many of you do too. Right now FATF is labeling these as potential indicators of illicit activities, but how long do we think these will be indicators before they turn into outright illegal activities themselves? Outlawed to protect the masses from drugs and terrorism that is mainly facilitated by the incumbent financial system. Not that long if more and more individuals don't step up, get vocal, and let these unelected fascists know that these activities are human rights that should not be surrendered.

Be aware!

Final thought...

One time I snuck into a Blink 182 concert. One of the best concerts I've ever been to.

Enjoy your weekend, freaks.


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