Coinbase CEO Calls D.O.G.E to Address AML Regulation Failure

Coinbase CEO Brian Armstrong has commented on the sorry state of anti-money laundering (AML) regulation and its ineffectiveness in preventing crime. In social media, Armstrong highlighted the poor performance of these regulations, stating these constituted a “police failure.” Linking them to the harm caused to victims of the so-called Operation Chokepoint 2.0, Armstrong stressed these cost over $213 billion annually, serving to “harm legitimate consumers, and only manage to stop ~0.2% of illicit activity according to the UN.” Armstrong concluded by stating this would be a good job for Elon Musk’s Department of Government Efficiency (D.O.G.E).