851–860 of 901 posts
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For conversations sake I'm curious about specific evidence. It's also fun to consider which country or group of countries would provide the regulations and enforcement.
Consumer protections. Until there are rigorous consumer protections, crypto is only fit for scams imo.
Those are covered by local laws. What protections do you think are missing from crypto that is different from other areas?
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No fan of Farage, but then why was most of the document the bank produced about what he did as a politician? Farage also claims he never met these supposed thresholds.
Combination of reputational damage[0] and him being a PEP. I believe the account closure was a business decision, but they definitely had no reason to be public about it. One good thing came out of the debacle, though: it put the spotlight on UK retail banking regulations and how they are allowed to treat customers in the first place. Financial institutions don't like small-time PEPs. They don't net the banks anywher…
https://en.wikipedia.org/wiki/Politically_exposed_person
> In financial regulation, a politically exposed person (PEP) is one who has been entrusted with a prominent public function. A PEP generally presents a higher risk for potential involvement in bribery and corruption by virtue of their position and the influence they may hold. The terms "politically exposed person" and senior foreign political figure are often used interchangeably, particularly in international forums.
Best I could find.
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The answer depends on how your specific state defines tax residency (for example California is notoriously difficult to escape). Generally the rules will be something like you remain a tax resident of your old state, regardless of how long you stay abroad, until you establish a new permanent tax residency (whether in a new state or country). What I eventually did is return to the US, sign a 1 month lease in Florida s…
Americans abroad shouldn't pay taxes (since they get basically no benefits) or vote (why should those who live abroad affect the laws they are, largely, not subject to?) Canada's rules are like that and I like it!
It's not like we give up everything but leaving the country.
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$200 emergency cash would have allowed him to fill up with gas, and pay for a motel or wherever he was going over the weekend. Having multiple cards would too (I have a debit card and two credit cards, kept at home, but I don't want to be stuck with no money if my wallet/phone gets stolen) I have no idea why a university which had received multiple on time payments would suddenly drop someone off the role for paying…
Can you even stay at a motel with only cash these days?
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A big centralized government bank is not somehow going to be magically better than multiple commercial banks. At best it would be equally bad but more likely it will be worse than the dmv and irs put together. Going to the bank will be like doing your taxes. Maybe it would be so bad that it would solve this problem because people would have cash.
At least if the DMV or the IRS goes insane, you can take them to real court. A government bank of last resort is probably something we need.
For basic necessities to modern life, there needs to be a state provided minimum quantity of access, so that you can't be screwed over by corporations just deciding you aren't profitable enough, or cornering the market and price gouging, etc.
Bank of america did this to me, in the same weekend i was moving out. All my stuff was in the car, it was a friday at 3PM and i was in the gas station. I couldn't fill up my gas. Called and they told me to come to the bank with two forms of ID. When I arrived to the bank the fraud department was operating in NY (3hrs ahead) and they were closing, so they told me to come next tuesday (it was a long weekend). I went ho…
I never understood this "Anything goes Term & Conditions" in the US. Like, can a bank legally put that they can close account without notification in their T&C? Isn't there a regulator that would control these and fine the banks? The binding arbitration clause (or privatized justice system) is another thing that I can't believe the US population never rebelled against...
The main thing is any company can start denying you service whenever they want as long as it's not for a protected reason, and then it's up to you to prove in the court of law (or arbitration) that they didn't specifically screw you over in any particular way, which is usually not worth the hassle.
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I'm very far from dealing with 500k personal banking transactions, but my immediate thought is that if you're doing so you're probably making mistakes. If it's revenue from sale of a company or similar, move it through escrow with your attorney. If it's a legal settlement, do the same. If you don't have an attorney but are dealing with hundreds of thousands of dollars, get an attorney. If it's income from trading or…
If you are buying a house with cash, you are likely to be transferring $500K+. I do not think an attorney is necessary for the transfer.
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Americans abroad shouldn't pay taxes (since they get basically no benefits) or vote (why should those who live abroad affect the laws they are, largely, not subject to?) Canada's rules are like that and I like it!
Americans abroad get a very valuable guarantee though. If shit hits the fan the full force of the US Military and Government is around to help out. They also are a last resort for Americans in emergencies abroad. Emergency assistance, flights and travel back home, etc. It's not like we give up everything but leaving the country.
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Americans abroad shouldn't pay taxes (since they get basically no benefits) or vote (why should those who live abroad affect the laws they are, largely, not subject to?) Canada's rules are like that and I like it!
Americans abroad get a very valuable guarantee though. If shit hits the fan the full force of the US Military and Government is around to help out. They also are a last resort for Americans in emergencies abroad. Emergency assistance, flights and travel back home, etc. It's not like we give up everything but leaving the country.
And your citizenship allows you to get visas/dual citizenships that you wouldn't have access to if you weren't an American citizen. An American passport is pretty valuable, even if you don't live in America.
This is all less relevant if you move to, say, the EU, but it's still worth noting.
Debanking is deeply unfair but more so in our society that is moving increasingly towards a cash-less society. A person can be debanked for no fault of their own and that causes them to be unable to pay rent, bills, etc. Like being arrested - there is little recourse without great expense or effort.
This was and remains an important USP for cryptocurrencies. Security in one's ability to pay for goods and services is incredibly important for any currency. In Canada, the government effectively de-banked hundreds of people and froze their funds for participating in and donating to the trucker protest. As more and more people experience this loss of liberty, the need for free and secure transaction methods will grow…