Podcasts about Bank Secrecy Act

This episode examines how the US Treasury thinks about financial crime, sanctions, fraud and protecting the integrity of the financial system. Financial crime, sanctions and illicit finance have become central to national security and economic security. But how can governments and the private sector ensure that the response is effective, risk-based and focused on outcomes? In this opening episode of the new season of the Suspicious Transaction Report, Tom Keatinge is joined by Jonathan Burke, Assistant Secretary for Terrorist Financing and Financial Crimes at the US Treasury Department. Drawing on his experience in both government and financial services, Jonathan discusses why the financial crime agenda must move from compliance to risk management, and why effectiveness should not be confused with simply adding more rules or easing pressure on the system. The conversation explores fraud as a growing financial and national security threat, the role of technology and data in identifying illicit finance networks, and the challenge of modernising frameworks such as the Bank Secrecy Act for a changed financial system. They also examine the Treasury's wider toolkit – including sanctions, Section 311 actions, enforcement and information-sharing – and why success should be measured not by the number of actions taken, but by whether financial threats are disrupted and the integrity of the system is protected.

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   In this episode, Justin interviews Cari Stinebower about sanctions as an enterprise risk management issue. They discuss the holistic view of the maritime space and enterprise risk. They cover aspects of the Terrorism Risk Insurance Act (TRIA) and how insurance companies, brokers, and reinsurers work with the U.S. Government to mitigate terrorism risk.   Listen for advice on keeping your organization compliant with respect to sanctions and terrorism risk.   Key Takeaways: [:01] About RIMS and RIMScast. [:16] About this episode of RIMScast. We will discuss geopolitical risk, sanctions, and TRIA with Cari Stinebower, a partner in the Washington, D.C. office of Steptoe. But first… [:42] RIMS-CRMP Virtual Workshops. RIMS will partner with PARIMA for the RIMS-CRMP on September 1st and 2nd for a two-day virtual workshop. Registration links are in this episode's show notes. [:55] Also on the webinars page, you will see a two-part series hosted by the RIMS Membership Department. The "Classroom to Career" webinar series highlights how RIMS equips students with the knowledge, skills, and connections needed to thrive in risk management careers. [1:10] Participants will gain insights into industry trends, career pathways, and practical tools that help them confidently step into the evolving world of risk management after graduation. These sessions will be hosted on September 1st and 9th. [1:24] These sessions are member exclusives and are complimentary for RIMS members, of course. So, if you are interested in becoming a member, this would be the time. Visit RIMS.org/membership. [1:34] Webinars: On September 17th, AXA XL returns to present the session, "Beyond the Loss Count: What Property Claims Reveal About Frequency, Severity, and Resilience." [1:46] On October 1st, Brown and Brown will make their RIMS Webinar debut with "The Future of Captives: What Risk Managers Should Think About Now." Visit RIMS.org/Webinars to register. [1:59] RIMS is back on YouTube. Our handle is @RIMSOfficialChannel. We've got plenty of videos there, including RIMScast, RIMScast Canada video podcasts, and other informative and entertaining content from RIMS. Subscribe to the channel today! [2:17] On with the Show! Our guest today is Cari Stinebower. She is a partner at Steptoe in Washington, D.C., and a former U.S. Department of the Treasury and Office of Foreign Assets Control (OFAC) Attorney-Adviser. [2:32] Cari focuses her practice on regulatory risk where U.S. National Security and Foreign Policy objectives intersect with cross-border business. [2:39] We will talk about fraud, money laundering detection, and cybersecurity, and how this can be connected to the Terrorism Risk Insurance Act (TRIA). [2:50] We'll also talk about how international sanctions can impact any organization, and why risk managers should be strategizing now, if they haven't already. There is so much to discuss!  Let's get to it! [3:04] Interview! Cari Stinebower, welcome to RIMScast! [3:24] Cari says she was at OFAC at an interesting time. She came in after a Hill job doing the campaign finance cleanup for the Democrats for three years, from 1996 to 1999. [3:38] Cari says that OFAC sank their teeth into anti-money laundering and the detection of fraud and corruption. When Cari joined Treasury as an analyst within OFAC, they slotted her into a position focused on counter-narcotics work, and also on the Milošević tribunal. [4:03] Cari says there was lots of work to do and not enough staff to do it. Everyone ot OFAC had then, and still has, multiple portfolios. Cari was splitting between Milošević and counter-narcotics work. [4:20] Cari says she spent a lot of time in Colombia working with banks and the Colombian government on anti-money laundering, focused on the cartels. The drug dealers were very sophisticated and were spectacular at establishing front companies and money laundering. [4:54] Cari says it was a very good lesson for what was to come through the counter-terrorism work. The Colombian narcotics traffickers and their front companies were light-years ahead on money laundering techniques and sanctions evasion. [5:44] Cari says in Colombia, at that time, the narcotics traffickers were excellent businessmen. It was such a lucrative career that they had to find ways to wash the cash. They were buying agricultural businesses, tourism businesses, pharmacies; anything they could to launder cash. [6:18] Cari says they could have been fabulous businessmen if they had gone legitimate. She says some of them tried. [6:32] Cari says 9/11 happened, so the world changed overnight. Cari switched from a counter-narcotics focus to a counter-terrorism focus. [6:44] They started chasing the money. Who was the source of the funds? Where was it going? Which financial institutions were involved? Were they doing it knowingly? Were they being used by governments? Were they being used by "charities"? How is it flowing? [7:03] Cari says that became her focus at OFAC for the next five years after 0/11, before she hopped into the private sector. [7:39] Justin asks about sanctions against nations. Cari says the old way Treasury used to do sanctions was by jurisdiction. A jurisdiction would be identified as prohibited, off-limits for U.S persons, meaning individuals and entities. [8:01] Any funds, transactions, or contracts that came into the possession or control of the U.S. person or entity would, by operation of law, be blocked or frozen; the title remained with the sanctioned party, but the U.S. person or entity had to freeze it and report it to the Treasury. [6:26] The original sanctions on Iran were jurisdictional, based on the government, based on persons located within the jurisdiction of Iran. The Department of the Treasury was aggressive in pursuing enforcement actions. [8:44] Financial institutions were sanctioned with multi-million-dollar penalties. The world started to voluntarily comply. It was U.S. driven initially, but European financial institutions and some of the Emirati financial institutions got on board and complied with the sanctions. [9:20] The Departments of the Treasury and Justice used a clause within the underlying statute for the Iran sanctions that allowed penalties to be imposed on non-U.S. financial institutions that were causing a U.S. bank to process transactions on behalf of the sanctioned party. [9:43] That was the line of the European banking cases that came out. Cari says banks were penalized from 2005 through 2015, which pretty much swept in everyone. [9:56] That was the modern buildout of the compliance program where the U.S. established it was applying its sanctions requirements not only to U.S. persons but to non-US. persons where they could also identify a nexus. [10:12] The favorite nexus was the use of U.S. dollars through the clearing system. Sanctions exploded. It was identifying ways to reach non-U.S. parties through the use of dollars, servers located in the U.S., call centers, approvals, or whatever they could, as a hook to get U.S. nexus. [10:51] Justin asks about sanctions against Russia, Iran, and North Korea. Cari says North Korea has sort of fallen off. There's a big focus on North Korea's use of forced labor. They've also been active in cyberspace and ransomware. [11:20] Cari says we don't see North Korea as often as we see Iran, Russia, and, to a certain degree, Cuba. It depends on the administration. For a while, Venezuela was really hot, from an anti-corruption, anti-money-laundering perspective, rather than a sanctioned invasion. [11:46] Justin speaks of the latest AML bill, passed in 2023. Cari says the big overhaul was under the Patriot Act, which updated and modernized the Bank Secrecy Act. It also updated and modernized the International Emergency Economic Powers Act (IEEPA), OPEC's big statute. [12:09] Cari says there have been updates since. When you hear M&A partners or private equity guys talking, they often refer back to the Patriot Act. The Patriot Act becomes this overarching term for updates to the AML laws and regulations. [12:48] Cari says there has been a growing evolution of the anti-corruption, anti-bribery statutes, the anti-money-laundering statutes, the sanctions world, and the adjacents like the whistleblower protections and the Terrorism Risk Insurance Act. [13:09] Cari says all of these components are part of this growing collective focus on upgrading U.S. Government abilities to protect against threats to national security and the economy. [13:32] Justin says risk managers are accustomed to thinking about operational and financial risks, but sanctions can feel like a legal issue. Part of the problem is you may have a legal officer who is not a risk manager or a risk manager who is not a legal officer. [13:48] Justin asks, When should sanctions become an Enterprise Risk Management issue? Cari says, looking at OFAC's enforcement actions, sanctions should always be an Enterprise Risk Management focus. [14:04] It's very easy for the bad guys to take advantage of a business if it's siloed. The easiest way to detect a problem, whether it's financial sanctions evasion or exposure to corruption, is if the enterprise is looking holistically at its business, its counterparties, and its transactions. [14:26] Cari says, when we're working with clients on building a global compliance policy or procedure, we keep telling them that it's better to have a holistic view of the business, customers, and geography. [14:43] Not only geographic risk, customer risk, or service risk, but also across the regulatory schemes. If you have sanctions exposure somewhere in your enterprise, you're also likely going to have an anti-money-laundering issue, a corruption issue, and/or an export controls issue.  [15:06] Cari says when you're building out compliance, you want to have a 1,000-foot view of the business units, your customers, your geographies, and the regulatory components, so that you can take advantage of what you may be seeing in one area. It's silos that cause the problems. [15:26] A Quick Break! Many fantastic RIMS events are coming up in 2026. The 11th Annual Chicagoland Risk Forum will return to the Old Post Office on Thursday, September 24th, 2026. Visit ChicagolandRiskForum.org for more information. [15:42] The RIMS Western Regional Conference will be held from October 4th through the 7th in Seattle, Washington. The agenda is live, and registration is open. Visit RIMSWesternRegional.com and the link in this episode's show notes for more information. [15:59] Save the dates: October 18th through the 21st. In Quebec City, we will be hosting the 50th Annual RIMS Canada Conference. Booth sales are open, and sponsorship opportunities are still available. Visit RIMSCanadaConference.ca for more information. [16:16] Also, remember to check out RIMS.org/Canada for our spinoff show, RIMScast Canada, hosted by National Conference Committee Chair, Aaron Lukoni. [16:27] The RIMS ERM Conference 2026 will be held on November 19th and 20th in Columbus, Ohio. Registration is open. Visit RIMS.org/ERM2026. [16:40] We're already looking to RISKWORLD 2027, which will be held over four days in New Orleans, Louisiana, from April 18th through the 21st! [16:50] RIMS members can exclusively register by September 4th for the best rate. And get first access to the hotel block. Hotel reservations open on October 28th, ahead of public registration. Sitting this out is the real risk! The link to registration is in this episode's show notes. [17:10] Let's Return to Our Interview with Cari Stinebower! [17:26] Cari says an example of sanctions risk is Iranian oil or Venezuelan oil. Typically, the pattern is you have a Greek shipment manager under charter to deliver oil and gas to China.  The Bill of Lading says the cargo is of Omani origin or Malaysian blend. [18:08] It looks clean. They have all the sanctions exclusions language in the Charter Agreement; the insurers, the reinsurers, and the P&I quotes have all established that the vessel cannot carry Iranian cargo. The documents say it's Omani or Malaysian, and off you go. [18:28] Then you get a call from the U.S. State Department or the Treasury Department saying you've got Iranian cargo on board. The U.S. Government typically knows that because they're using satellite tracking software. They know that the cargo was loaded by ship-to-ship transfer. [18:58] If you go back through the satellite imagery, you can see that it's happened probably two or three times, and when the vessel called on the Omani port that was supposed to be the source of the cargo, it came in at the same draft as it left. Calling on the port was clearly a ruse. [19:34] When you get to the financial payments, that's where you have the money laundering side, and you can see that the Omani seller of the cargo is just a front company with a brand new website, secretly run by the Revolutionary Guard. [19:56] Cari says that when we start talking about the compliance policies and procedures, it's not good enough just to rely on the Bill of Lading. The expectation is that you're going to be doing something a little deeper. [20:11] In 2019, the Department of Justice started to pursue a lot of ship owners and ship managers for carrying Iranian cargo. Sometimes it was Iranian cargo going to Venezuela or going to China. [20:32] In a decent batch of those cases, the ship owners or ship managers would be contacted by the U.S. Government and agree that the Government was right and ask what they could do not to get sanctioned. [20:51] Cari says there were a series of cases where the ships were brought to the U.S. and the cargo was sold by the U.S. Government, with the proceeds going to the Victims of Terrorism Fund, for parties who registered with the Special Master and were entitled to a pro rata share. [21:20] That was the U.S. Government's solution to what to do with all this cargo that they can seize, and they had been seizing, under the Foreign Terrorist Organization Statute. We're now seeing the same focus on the narcotics trafficking cartels in Mexico, Brazil, and Venezuela. [21:46] Cari says, You see the evolution of the U.S. Government's thinking over the years, how the Iranian oil cases are now relevant to countering narcotics trafficking caused by the cartels in South America. [22:00] Justin asks about supply chain risk and sanctions-related risks companies may overlook when they evaluate suppliers. Cari says the supply chain, particularly when you're dealing with raw materials or manufacturers coming out of China, has been an issue for a long time. [22:29] Cari says it's not difficult for a U.S. importer who's bringing in parts and components for widgets to know that their manufacturer or warehouse in China is who they say they are. That's easy enough. [22:48] Where we see issues is when the Chinese manufacturer subcontracts to second or third parties, who ostensibly are also compliant, but it becomes difficult in a more opaque jurisdiction like China to do the tracing down to the actual mine or source of the raw materials. [23:14] That leads up to the Uyghur Forced Labor Prevention Act (UFLPA), which has forced companies to look at supply chains where there's a Chinese component, for several years. [23:31] Where are the raw materials coming from? Do you know where all of the raw materials are coming from, or do you just know where some are? Under the UFLPA, companies were particularly focused on identifying those risks in China. [23:50] Cari says, under the first Trump Administration, and under the Biden Administration, you started to see a lot of companies moving away from sole-sourcing goods from China, specifically because of that risk. [24:02] The National Drug Control Strategy Report that came out in May 2026 is digging deep into supply chain issues. [24:13] It says two things: first, that the U.S. Government needs to act as a whole. The Departments of Justice, Treasury, and Homeland Security need to work together on tackling supply chain issues and addressing where the gaps are. [24:35] Supply chains are being exploited, not only by narcotics traffickers, but across the board. [24:41] The report is also telling businesses that it's not enough to have an OFAC sanctions compliance program where you screen your counterparties against the SDN list. [24:54] There's an expectation for businesses to go deeper, using analytics and AI, looking at their records, and knowing who the suppliers of their suppliers are. [25:17] The expectation is for businesses to step up their game, but also for the U.S. Government to partner with businesses to figure out how to do that. [25:35] Cari says we've also been telling other jurisdictions, like those in the Caribbean and South America, that this is a really good opportunity. [26:44] The first Trump Administration, the Biden Administration, and the second Trump Administration have said to stop sole-sourcing in China. Let's near-shore and friend-shore, and let's bring business and infrastructure back to the Western Hemisphere. [26:00] Cari says we're starting to see jurisdictions offer tax incentives for setting up manufacturing spaces, or finding ways to invest in the United States to bring back manufacturing. [26:14] Cari says the big issue of late has been how to bring shipbuilding back to the United States. Is there a way to do it in Latin America without relying on China as the major shipyard? [26:29] Those issues are interesting because they trigger a series of other questions: cost of labor, sourcing raw materials, and more. It's a longer-term problem. If you're building out your supply chain nose-to-tail, it's going to require a more transparent jurisdiction than China. [26:52] One more Quick Break! RIMS, The Foundation for Risk ManagementTM, is dedicated to shaping the future of the profession. By making a contribution, you are strengthening the global risk management community and investing in the future of the industry. [27:11] The Foundation also supports the Spencer Educational Foundation but has a different mission. The Foundation focuses on providing opportunities for those professionals who have already decided to enter risk management and are just getting started. [27:26] You can learn more about the Foundation by visiting www.RIMS.org/FRM.  While you're there, be sure to check out information about the Susan Meltzer Scholarship Fund, which was established to honor Ms. Meltzer, who was RIMS President in 1999 and 2000. [27:44] Susan Meltzer was a cherished RIMS President and contributed so much to RIMS and the greater risk community. Learn more at RIMS.org/FRM. [27:53] Let's return to our interview with Cari Stinebower! [28:14] Justin asks if other countries sanction the United States or U.S. companies. Cari says it has become a new trend. The jurisdictions doing it are China, with the National Security Law; Russia, identifying Hostile Jurisdictions that have imposed sanctions against Russia. [29:12] Cari says it's a quid pro quo. Ukraine has a sanctions program against entities that do business with Russia. Canada and Europe are well-known for their Blocking Statutes. [29:48] They have Antidote Sanctions that prohibit their nationals from complying with the U.S.'s Cuba Sanctions. Those jurisdictions see the U.S. sanctions on Cuba as territorial. There is a quid pro quo. [30:08] Sometimes it triggers conflict-of-law issues, and companies have to decide how and when they're going to comply with which set of sanctions. [30:46] Cari says, if you don't have a holistic view of which jurisdictions you're operating in, and where your U.S. nationals are located, there's no way to build out a robust, comprehensive sanctions program. [31:01] If you have a U.S. person located in or in a business position in Canada, you wouldn't want them dealing with the Canadian company's Cuba business. You need to know where they are located in advance so you can protect the U.S. person. [31:27] Justin notes that RIMS is a global society. Canada is the second-largest RIMS membership base. [31:40] Justin says there's so much due diligence to be done. You have to vet the company you're going to be doing business with and do your second- and third-tier supply chain risk management deep dive to make sure that everything is above board. [32:02] Cari says there are many examples where the Canadian Government has aggressively stepped up its sanctions components. The Canadian sanctions on Russian targets may be more aggressive than the U.S. or EU sanctions on Russia. [32:19] If you have a financial institution or insurance company based in Canada, but operating in the U.S. and the EU, because they're complying with the Canadian sanctions, they're blocking transactions that a U.S. party wouldn't have to block. [32:44] You want to know what the entire web of sanctions regulations is before you figure out who your business parties are and how you're going to navigate something. [32:55] Justin surmises that a small company without a dedicated risk professional would need to reach out to a company like Steptoe. Cari agrees; a lot of people will use a law firm and a consultant to build out their compliance programs or to do the risk analysis. [33:13] Cari says, then they will either find someone in-house or outsource it to a consultant or a specialist to keep costs down. [33:23]  Cari says, we also see this pop up in Mergers & Acquisitions. One of the things that is often difficult is that they will see the compliance function either as redundant or as a cost center, and not as a profit center. [33:47] The guidance is always: Don't save costs by getting rid of your Compliance function, because it will cost you money in the long run. But often, that is what you will see. [34:00] Justin brings up the Terrorism Risk Insurance Act (TRIA), a legislative priority for RIMS. RIMS sends an External Affairs Team to Capitol Hill every year to talk about TRIA with their Representatives in Congress. [34:19] Justin says RIMS helped lead the charge, over 20 years ago, to get TRIA passed into law. [34:30] The nature of terrorism risk has evolved since TRIA's enactment. Justin asks how risk managers should be thinking about terrorism exposure today, compared to when the program was established. [34:44] Cari says terrorism, like the narcotics traffickers, evolves. It's cash-intensive. There's more you can do now through technology, AI, cybersecurity, and cryptocurrency. [35:01] You can sit completely offshore and wreak havoc on the electrical grid or a utilities provider, or a financial institution, through cyberattacks or cybercrimes. It can be crippling if terrorists go after the grid. [35:28] Cari says we have seen an overlap between what could be a terrorist attack and what is more likely a ransomware grab, when they're going after smaller utilities located somewhere in the Midwest. That seems to be a trend. [35:45] They're not always sophisticated. You don't always know who the counterparties are. Going back to the Drug Control Strategy report, the Government is saying that there has to be a holistic approach to ransomware and cyberattacks. [36:03] A couple of years ago, the FBI and Homeland Security set up a task force to work with the utilities or other U.S. businesses that see themselves faced with a ransomware attack that is either just for the money or is something more nefarious. [36:24] Cari says, if the question is, is it terrorism or is it something else, but the way you would attack it would be the same if you're the utilities manager; it doesn't matter if it's terrorism or cybercrime. [36:48] You've got to work with law enforcement to protect your infrastructure, to figure out whether you're going to pay the ransom or not, so that you can protect your customers' data. [37:02] It's up to the Government to figure out who the illicit party was. Is it a hacker group sitting in Russia? Is it a terrorist group? Why were they doing it, and how do you stop it from happening in the future? [37:18] If you're the Business Manager or the Compliance Officer, you need to build in your risks, your risk mitigation strategies, redundancies, and backup servers that are not connected. The problem for you isn't: Is this a hacker or a terrorist doing this to me? [37:53] Cari says there are many insurance working groups. We've worked with clients, some of these groups, and the U.S. Government to come up with language that makes sense. We see it in the context of Iran or Russia, or with respect to language for War Risk in the Strait of Hormuz. [38:32] Cari says, The partnership between the insurers, reinsurers, brokers, and Government is pretty deep. [38:41] These working groups have been around for a long time because insurers, brokers, and reinsurers need buy-in from the Government to get assurances that the language they're putting out there is enough to get them out of trouble if they're acting in good faith. [39:00] Generally, everyone is, but you want that nod from the Government that what you've done is sufficient from the Government's perspective. [39:37] Cari's advice to risk professionals in August 2026: The most important thing is that the risk professionals and the business units know and trust each other. [39:47] Cari continues: A risk professional isn't going to be able to build out a compliance program that works unless they know what the business units are up to and what the business priorities are, and they have the trust of the business professionals. [40:05] Some critics warn that you don't want the compliance person to become a captive of the business units, driven by profit rather than compliance. Cari says the business compliance person needs the business unit and the compliance unit to work hand in glove. She explains it. [40:46] Cari says we've seen this a lot with all of these businesses jumping into the Venezuela market. There's a lot of business upside but also a lot of risk. It may not be that there's a sanctions risk, but the longer-term risks are the money-laundering and corruption risks. [41:26] Cari asks what happens ten years from now? If you're a compliance officer, you need to understand the upside to the business, which is lots of profit, but when you're drafting contracts and working with the business unit, how are you mitigating the risk that's five or 10 years out? [41:44] Cari says the only way you do that is if the compliance and business units have a certain amount of trust and respect for each other. [41:57] Cari says the Compliance Officer is not always the Risk Manager. Some businesses will have it siloed; some will have someone embedded. In some cases, there's no compliance person. They throw it onto a legal officer, and the legal officer can be spread fairly thin. [42:13] Cari says you can work through trade associations to understand industry risk. You can hire consultants. You can hire law firms. The benchmarking is incredibly important to understand not only the opportunity but also the appropriate risk. [42:49] Justin says this has been one of the most informative RIMScasts we've had in a while. I'm so glad we got a chance to tackle this topic. Cari, thank you so much for joining us here on RIMScast! [42:45] Special thanks again to Cari Stinebower of Steptoe for joining us here on RIMScast! A link to her LinkedIn profile is in this episode's show notes. [42:58] I have links on this episode's show notes to other RIMS coverage on sanctions, geopolitical tensions, and related supply chain risk. Also visit RMMagazine.com. [43:08] Plug Time! Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. [43:26] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more. [43:42] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management. [43:56] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at Content@RIMS.org. [44:08] Practice good risk management, stay safe, and thank you again for your continued support!   Links: Spencer Educational Foundation's 2026 Funding Their Future Gala | Sept. 17, 2026 ChicagoLand Risk Forum | Sept. 24, 2026 RIMS Certification Week: Sept. 21‒24 | Complimentary For All RIMS Western Regional Conference — Oct. 4‒7, 2026 | Seattle, WA | Register Today. 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Rep. Warren Davidson (R-OH) joins us as the Senate heads toward its September 15 CLARITY vote. He wrote the Keep Your Coins Act and the Token Taxonomy Act, voted no on GENIUS, and watched leadership kill his own Fourth Amendment amendment on FISA 702. We get into the SEC's new crypto rule and its 10% retail cap, why self-custody has never gotten a standalone floor vote, the CBDC ban standoff, and whether Trump's debanking order eventually reaches your wallet.~This episode is sponsored by Tangem~Tangem ➜ https://bit.ly/TangemPBNUse Code: "PBN" for Additional Discounts!Guest: Representative Warren Davidson (R)X Account: https://x.com/rep_davidson?s=2100:00 intro00:10 Sponsor: Tangem00:45 Days Since House Passed CLARITY01:00 Warren guaranteed to win?01:15 Warren vs Warren02:00 CLARITY Odds03:40 Will you vote to pass CLARITY?05:00 SEC Rule: No cap vs $75M fund07:00 Midterm odds: Crypto regulation at risk?09:15 Keep Your Coins Act sidelined 10:30 Who's stopping your bill?11:50 Sec 702: Jim Jordan betrayal14:45 Flock cameras vs CBDCs15:15 Immigrant debanking eventually reach Americans self-custody?17:40 Bank Secrecy Act expanded or diminished under Trump?19:10 CLARITY probability still hinging on ethics?20:40 Republicans vs Stablecoins ban22:50 Stablecoin yields misrepresented?24:00 Privacy vs young voters#Crypto #Bitcoin #Privacy~Crypto CLARITY vs Privacy

This week on This Week in AML, John Byrne and Elliot Berman examine FinCEN's record-setting $125 million enforcement action against UBS, the largest civil money penalty ever imposed against a broker-dealer for Bank Secrecy Act violations. They discuss what made the case significant, the consequences of repeated compliance failures, and the lessons financial institutions should take from the enforcement action. The conversation also covers FinCEN Director Andrea Gacki's departure for Citibank and what the appointment of Acting Director Jenna Casanova could mean for future enforcement priorities. John and Elliot then explore Senator Ron Wyden's report on financial institutions' handling of Jeffrey Epstein-related accounts, including proposed changes to suspicious activity reporting requirements and concerns about SAR confidentiality. They also review Capital One's defense of account closures tied to AML obligations and the broader debate surrounding claims of "debanking." Internationally, the hosts discuss the FCA's planned overhaul of transaction reporting requirements in the UK, ongoing challenges in accessing beneficial ownership registries across the European Union, and Transparency International's push for stronger global anti-corruption measures.

Guy Swan on learning the wrong lessons. The takeaway circulating is "go with the biggest company," which forgets Mt. Gox and FTX and everything else proving size is not safety. His analogy: when a libertarian politician betrays you, libertarianism didn't break, you got scammed. He wants a rule that works forward. His sharpest point: "I don't want a rule that only works in hindsight." Anyone can now point at the source-available license. The useful question is what indicator predicts the next failure before it happens. His own heuristic broke in both directions. He had trained himself not to dismiss builders for being abrasive, and now concludes that for security specifically, a maintainer who attacks people reporting problems is telling you something. Yan Pritzker paired it with the engineering version: without a culture of safety, people stop surfacing mistakes. James O'Beirne's tripwires. He seeded wallets on-chain carrying graduated entropy over broken Coldcard seeds, five dice rolls, ten, fifteen, one and two-word passphrases, as bait. The bare seed was swept within an hour and nothing else has moved, mapping attacker capability live. The red team's numbers. Rob Hamilton and Calle have scanned over 300 repos and spent roughly $40,000 on tokens in two days, finding critical vulnerabilities at about one per person per hour. OpenSats is now funding most of that budget. Every company needs an agentic security pipeline. Yan's argument: agents are non-deterministic, so one scan proves nothing. The real work is harnesses that find, test, distill and reproduce on a loop. Swan has been building this for six to twelve months. The asymmetry is the whole problem. Attackers need one vulnerability, defenders need all of them, and the economics favor the attacker. Some have been paying up to 90% of stolen funds in fees to get transactions mined quickly. A fake Coldcard desktop app is circulating. No such application has ever existed. Trezor reported a phishing spike since disclosure, and a counterfeit Wasabi wallet reached an app store. Nobody legitimate asks for recovery words, and unsolicited migration instructions are always hostile. Yan's read on whether this repeats. He calls the bug exotic: entropy wasn't weak, it was switched off entirely. Scans across the popular hardware wallets show correct and consistent entropy use, so he thinks this specific failure is unlikely to recur elsewhere. Government overreach, the other half of the show. Suz on Liechtenstein's beneficial ownership register, roughly 31,000 entities, built in 2021 for EU anti-money-laundering compliance and now breached and offline. Yan on the Bank Secrecy Act's 1970 threshold, never inflation-adjusted, capturing dramatically more data for near-zero measured effect.

This Day in Legal History: The Immigration Act of 1882On August 3, 1882, President Chester A. Arthur signed the Immigration Act of 1882, the first comprehensive federal law regulating immigration into the United States. Before this, immigration had largely been left to the individual states; this Act marked the moment the federal government claimed the subject as its own, and it built the first federal machinery for controlling who could enter the country.The Act did two enduring things. First, it imposed a “head tax”—fifty cents on every immigrant arriving by ship—to fund the administration of immigration, and it placed enforcement under the Secretary of the Treasury, creating the country's first federal immigration bureaucracy. Second, and more consequentially for the law that followed, it created categories of people who would be excluded: convicts, the “insane,” and—in language that would echo for the next century and a half—”any person unable to take care of himself or herself without becoming a public charge.” That public-charge concept, born here in 1882, is the same doctrine we discussed just a couple of weeks ago when the current administration revived an expansive version of the public-charge rule.The significance of August 3, 1882 is that it is the taproot of the entire federal immigration system. Coming just months after the Chinese Exclusion Act, it established the foundational premise that the national government decides the terms of admission to the United States, and it introduced the framework—head taxes, excludable categories, federal enforcement—on which everything since has been built. It's worth sitting with the tension in the date: 1882 is also, almost exactly, the moment Emma Lazarus was composing “The New Colossus,” with its welcome to the tired and the poor. The law and the poem were born together, and the distance between them—between the statute's exclusions and the sonnet's embrace—is a distance the country has been arguing about ever since.Acting Attorney General Todd Blanche has formally rescinded the $1.8 billion “anti-weaponization fund,” clearing what had been the biggest obstacle to his confirmation. If you were with us last week, this is the resolution of that story. The fund—created by a Justice Department order back in May—would have used taxpayer money to compensate people who claimed to be victims of the prior administration's Justice Department, a group that notably included those convicted in connection with the January 6 Capitol attack. Republican Senator John Cornyn had refused to support Blanche's nomination until the fund was killed, and this week Blanche did exactly that, signing an order declaring the May directive “rescinded” with “no force or effect,” and, as part of the deal, agreeing to limit the related immunity arrangement so it applies only to the IRS and not to other agencies. The significance ties together several threads we've followed all summer. This fund grew out of the same collusive IRS settlement that a federal judge voided as a sham, and it sat at the center of concerns about the Justice Department being used to reward the president's allies. That a senator from the president's own party forced its formal repeal as the price of confirmation is advice-and-consent working as a genuine check—and it means the incoming attorney general takes office having had to publicly dismantle one of the administration's most criticized initiatives before the Senate would trust him with the job.Acting US Attorney General Blanche rescinds ‘anti-weaponization' fund before confirmation vote | ReutersNPR · NBC NewsIn a court filing, Capital One has disclosed for the first time that it closed more than 300 Trump Organization bank accounts back in 2021 after an anti-money-laundering review—the first time a bank has formally tied such concerns to its decision to cut off the president's family business. The context is a lawsuit: the Donald J. Trump Revocable Trust and Eric Trump sued Capital One in Florida last year, alleging the bank “debanked” them for political reasons, having notified the Trump Organization of the closures in March 2021, just weeks after January 6. Capital One's filing reframes that story entirely. The bank says its compliance team did precisely what federal regulators expect—flagging accounts that raised anti-money-laundering red flags and acting on them. Here's the legal machinery underneath. Under the Bank Secrecy Act and related anti-money-laundering rules, banks are legally obligated to monitor their customers, file suspicious-activity reports, and, when warranted, close accounts; failing to do so can expose a bank to serious regulatory penalties. Importantly, Capital One did not accuse the Trump Organization of actual money laundering—flagging a risk and proving a crime are very different things. The significance is that this is a clean collision between two hot legal debates: the “debanking” complaint that financial institutions are dropping customers for political or ideological reasons, and the reality that banks operate under mandatory AML obligations that require them to shed risky accounts. A court will now have to decide which of those framings fits what Capital One actually did.Capital One says it closed Trump Organization's accounts after anti-money-laundering review | ReutersCNBC · NPRTom Goldstein, the prominent Supreme Court advocate and SCOTUSblog founder we've been following, has launched his appeal—asking the Fourth Circuit to overturn his twelve convictions for tax and mortgage fraud and to undo his six-year prison sentence. Recall the case: a jury found that Goldstein concealed millions from a secret high-stakes poker life, diverted his law firm's fees to cover gambling debts, and lied to mortgage lenders; he was sentenced to 72 months and ordered to pay more than $3 million in restitution. The appeal is a reminder that even a resource-intensive, headline conviction gets a second look, and Goldstein is raising some genuinely lawyerly arguments. The most interesting is venue—the constitutional requirement that a defendant be tried in the right place. His team argues that while prosecutors proved he filled out loan applications in Maryland, they never proved from where he actually transmitted the documents, leaning on a recent Fourth Circuit decision that took venue seriously. He's also challenging the admission of statements he made in media interviews and the wording of the jury instructions. Commentators describe his path as daunting, and it is—appellate courts rarely overturn convictions, and factual findings get real deference. But the significance is that these are exactly the kinds of technical, procedural issues on which serious appeals are built. Goldstein spent his career winning cases at the top of the appellate system; now he's testing whether that same system will scrutinize the government's work in convicting him.US Supreme Court lawyer Tom Goldstein appeals tax conviction | ReutersLaw360 · Bloomberg LawAnd finally, the Justice Department has moved to drop its criminal case against David Hearn, the former Olympic canoeist charged with vandalizing the Lincoln Memorial Reflecting Pool—and the reason is striking. We covered Hearn's not-guilty plea back in July, when his lawyers called the prosecution an abuse of power built on a “concocted narrative.” It turns out that characterization may have been closer to the truth than the charge. In a 20-page filing, prosecutors acknowledged that evidence received after Hearn was indicted shows the damage to the pool “was the result of flawed installation by the contractor,” compounded by “the rush to complete the project” before the America 250 celebrations around July 4. In other words: not vandalism—shoddy construction. The U.S. Attorney's office said it only learned of the flawed-installation evidence after a grand jury had already indicted him. The significance goes right to prosecutorial power and its risks. A 67-year-old man was detained for hours and charged with a felony over damage that, by the government's own admission, he didn't cause. The case collapsing is the system correcting itself—but only after Hearn spent weeks as a felony defendant. It's a real-world illustration of a point we keep returning to: the decision to charge is one of the most consequential and least reviewable powers in the legal system, and when it's exercised on a flawed factual premise, the damage to the person charged is done long before the dismissal.US Justice Department drops case against former US Olympian over Lincoln Memorial Reflecting Pool | ReutersPBS NewsHour · CNN This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.minimumcomp.com/subscribe

Financial surveillance in America is expanding. In this episode, host Nicholas Anthony sits down with Representative Warren Davidson to discuss the growing reach of the Bank Secrecy Act, and why it's time to scale back the surveillance of law-abiding Americans. Hosted on Acast. See acast.com/privacy for more information.

In this episode of "Financial Crime Matters," Kieran asks former senior banking regulators Lisa Arquette, Donna Murphy and Suzanne Williams to draw on their cumulative decades of insight related to US anti-financial crime regulation. Recently retired, Lisa, Donna and Suzanne discuss their roles in defining Bank Secrecy Act, or BSA, requirements over the past twenty years at the FDIC, Office of the Comptroller of the Currency, and Federal Reserve Board, respectively. Recalling that anti-money laundering oversight was once "given to the most junior [bank] examiner" and primarily involved asking tellers "what they did with cash," Lisa, Donna and Suzanne detail how the terrorist attacks on September 11, 2001, Congressional hearings and other events brought about the huge expansion of BSA responsibilities for financial institutions. In discussing their careers, Lisa, Donna and Suzanne also touch on how inter-banking agency conflicts were dealt with and what they wished their agencies might have accomplished but did not. Finally, they conclude by discussing the current shift in regulatory priorities manifest by the changing role of the Financial Crimes Enforcement Network, or FinCEN, and the push to grant banking charters to digital asset companies and other fintechs.

When everything is a scam, of course they aren't going to talk! PLUS, Luke Wake, attorney at Pacific Legal Foundation's Separation of Powers practice, tells Shaun about a case he is working on challenging the Bank Secrecy Act where the government gives the Treasury permission to spy on your financial transactions. And Joe Persaud, COO of the American Transit Insurance Company, discusses the opportunistic fraud in the transportation sector and how using blockchain technology as a solution to stop the fraud.See omnystudio.com/listener for privacy information.

In this special crossover episode of The Consumer Finance and Payments Pros podcasts, Carlin McCrory, Keith Barnett, and Chris Willis explore the federal government's increasing attention to "debanking" and what it means for payment processors, money transmitters, banks, and other financial services providers. They discuss recent federal initiatives and agency activity that have heightened scrutiny of decisions to onboard, maintain, or terminate customers and merchants, particularly where those decisions may be perceived as based on political or religious viewpoints. The conversation highlights emerging regulatory theories about when debanking could be treated as an unfair practice, and how those theories align with existing statutory and case law frameworks. The group also examines the interaction between legitimate risk management under the BSA and reputational risk. They close with practical takeaways for the industry, including the importance of revisiting risk and onboarding practices, aligning those practices with evolving regulatory expectations, and maintaining clear documentation to support decisions about customer and merchant relationships in a changing oversight environment. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

A bi-weekly news show informing you on the latest in Bitcoin, privacy and open source tech hosted by Ungovernables, Max and Q. AOBAll aboard the vibe trainFTF with Max TQ got some holidays coming upKeonne appealNEWSBisq v1 trade protocol exploit: 11.59 BTC drained, fully reimbursed, hardening shipped in 1.10.0 (bisq.community PSA, Bisq on X, reimbursement plan on GitHub)Disclosed: 2026-05-01Bisq's v1 trade protocol had a missing validation check on taker-side input. Because maker and taker were supposed to use the same miner fee, a malicious taker could push a bad fee value through the transaction math and shrink the multisig output to 0.001 BTC while sweeping the rest into the taker's change. Attacker drained 11.59 BTC from 10 users, all on altcoin trades. Maintainer Henrik Jannsen filed a reimbursement plan on GitHub on May 3, payouts in BTC (with BSQ as optional), DAO vote scheduled around May 25. The hotfix landed as Bisq 1.10.0 on 2026-05-16 with broader hardening: trade protocol checks, network message validation, release verification, supply-chain hardening. The Bisq team explicitly flagged the incident as a likely AI-assisted exploit, though they did not detail how AI was used.Sterlingov Appeal: The Criminalization of Privacy (therage.co)Published: 2026-05-12The appellate court reviewing Roman Sterlingov's Bitcoin Fog conviction openly suggested that mixers remain "legal in theory but not practice" once criminals use them. Judges questioned whether running an internationally accessible service forces compliance with every jurisdiction's licensing regime.Pro-law-enforcement CLARITY Act advances out of Senate Banking (therage.co)Published: 2026-05-15The Digital Asset Market Clarity Act passed committee with expanded surveillance provisions: Bank Secrecy Act integration sixteen times over, new PATRIOT Act special measures. Privacy advocates flagged the breadth of data collection on Americans who haven't done anything.CVE-2024-52911 disclosed in Bitcoin Optech #405, fix has been in Bitcoin Core 29.0+ since release (https://bitcoinops.org/en/newsletters/2026/05/15/)Published: 2026-05-05Use-after-free in parallel script validation between Bitcoin Core 0.14.0 and 28.x. Required attacker-supplied proof-of-work, so practical attack window was narrow, but the bug sat unannounced across many versions.Bitcoin Knots 29.3 enables BIP-110, fork-off countdown started (release notes) + Lopp's countdownPublished: 2026-05-09 (release)Knots 29.3 ships RDTS soft-fork enforcement on by default. Nodes running Knots with this flag set will fork off the network in August unless they change behaviour. Lopp set up a countdown.Bybit exploit post-mortem (Blockstream): enterprise multisig + hardware wallets did not save them (blog.blockstream.com)Published: 2026-05 (week of 5-12)$1.5B drained despite multisig and hardware. Failure was process, not key custody, a UI / signing-flow compromise.Poland passes EU MiCA-aligned crypto bill while Zondacrypto fraud probe deepens (bitcoinmagazine.com)Published: 2026-05-15Polish lawmakers ratified the MiCA framework ahead of the July EU deadline. The vote landed alongside an investigation into Zondacrypto's collapse, roughly $96M of user losses, with Prime Minister Tusk floating possible foreign-influence angles.Claude helps retrieve lost 5BTCX user 'CPRKRN' has Claude check over whole file system and match a wallet file to an old passwordSpiral and Block ship Loupe, an AI-powered vulnerability scanner for open-source Bitcoin (spiralbtc.substack.com)Published: 2026-05-12Uses LLMS to surface security weaknesses in code repositories and requires demonstrable test cases for any vulnerability report so false positives are minimised. Spiral and Block are funding scans themselves; reports go to maintainers confidentially before any public disclosure.RELEASESBitcoin Core 31.0 (release index entry) — 2026-05-12Operator review required before production rollout. Major version landing.Bitcoin Knots v29.3.knots20260508 — 2026-05-09RDTS soft-fork enforcement on by default, fork-off risk in August. New configuration changes, bug fixes.Core Lightning v26.06rc1 — 2026-05-12Adds graceful command for clean shutdown, new sendamount RPC, BOLT12 payer-proof support, plus 211 commits since v26.04.Bitkey App 2026.9.1 — 2026-05-15Security patch from Block.Trezor Suite v26.5.1 — 2026-05-15Legacy labeling migration, WalletConnect insufficient-balance warnings, side-by-side trade comparisons, new DeFi Tokens section.BitBoxApp v4.51.0 — 2026-05-12Bundles BitBox02 firmware v9.26.1, address formatting in 4-char groups, iOS haptic feedback on charts, account-summary perf.Ledger Live Desktop 4.4.0 — 2026-05-13Hardens Live App handling of external-protocol URLs (itms-apps:, ms-word:, file:, etc.) across Chromium navigation vectors.Ledger Live Mobile 4.4.0 — 2026-05-13Adds an addresses section to asset detail screens, device-card management menus with removal confirmations.Bull Bitcoin Mobile v6.10.1 — 2026-05-18Onboarding redirect fix on wallet creation failure.Bull Bitcoin Mobile v6.10.0 — 2026-05-11Major release: Ledger hardware-wallet integration, FSS hybrid storage strategy, real-time WebSocket notifications, new onboarding wizard, Payjoin privacy enhancements, 11 new translations.Bull Bitcoin Mobile v6.9.101-Internal-Release (display name v6.9.108-Internal) — 2026-05-09Pre-6.10.0 testing build, Android migration / startup wizard / secure storage fixes.Bitcoin Safe 2.0.0rc0 — 2026-05-17Comprehensive redesign of the wallet setup wizard, added support for Coldcard mk5 and Trezor 7, plugin architecture via external repos, fiat-balance category column.Sparrow Frigate 1.5.0 — 2026-05-14Low-latency mempool ingestion via Bitcoin Core's ZMQ sequence publisher, auto-discovers the bitcoind ZMQ endpoint when unconfigured. Useful for operators running Sparrow Frigate alongside Core.Blockstream Green iOS release_5.4.0 — 2026-05-11Aggregate fiat balance across all wallet assets, updated Send flow for Lightning, migrates Lightning backend from Breez to Greenlight (Blockstream's own LSP).Blockstream Green Android release_5.4.0 — 2026-05-08Same redesign as iOS: aggregate fiat balance, redesigned Send flow (recipient → asset → account), transaction pagination, also the Breez-to-Greenlight migration.Blockstream Green Desktop 3.3.0 — 2026-05-06Total fiat balance in wallet header, AMP ID exposed in settings, GDK 0.77.3, Qt 6.11.0, Wayland fixes.Peach Bitcoin 0.69.0 (build 346) — 2026-05-06Signature validation for backed-up payment details, encrypts custom refund addresses, removes invalid backed-up data.Peach Bitcoin 0.69.0 (build 345) — 2026-05-05Percentage filtering on offers, encrypted server backup syncing for payment methods, advanced offer-creation options, GrapheneOS camera-permission fix, Buy Offer creation restricted to experienced users.ZEUS v13.0.2-rc3 — 2026-05-18Third RC for 13.0.2. New RGS server at rgs.zeusln.com providing graph updates every 15 minutes instead of every three hours. Clipboard and NFC UX improvements.ZEUS v13.0.1 — 2026-05-07Stable release: fixes recovering Embedded LND wallets from seed (was stalling out), payment retry logic, false-positive offline detection. Cashu token sweeping to self-custody continues to land.Alby Hub v1.22.2 "Marc Horowitz" — 2026-05-11Adds Core Lightning support (their most-requested feature), new AI & Agents page, integrated on-chain wallet mode, custom transaction labels, redesigned settings, improved budget selection for app connections.Boltz Backend 3.13.0 — 2026-05-08Full Arkade swap support, EVM commitment-swap lockup flow, multi-LND support in backend and sidecar.Boltz Client 2.12.0 — 2026-05-12Final removal of the GDK wallet library.Arkade arkd v0.9.5 — 2026-05-11Client-lib wallet interface updates, breaking-changes documentation, single-key wallet signing fixes.Arkade TS SDK v0.4.25 — 2026-05-07Maintenance bump for the Arkade JavaScript SDK.NodeGuard 0.24.2 — 2026-05-14Fixes invoice-expiry calculation in rebalance flows. Check logs if rebalance operations have been timing out.ThunderHub v0.18.3 — 2026-05-15Bug-fix release in the 0.18.x line. (Subsequent 0.18.1-0.18.3 are CI/docker polish after the headline 0.18.0.)ThunderHub v0.18.0 — 2026-05-05Adds Taproot Assets support to the dashboard. The actual show story for ThunderHub this fortnight.Blink Mobile 2.4.44 — 2026-05-06Upgrades protobufjs (CVE-2026-41242 mitigation). Security patch.Fedimint SDK canary release — 2026-05-14React Native transport fix, persistent callback, RPC payload flattening. Canary channel.umbrelOS 1.7.3 — 2026-05-12DirtyFrag security patches: CVE-2026-43284 + CVE-2026-43500 in the Linux kernel. Mandatory.umbrelOS 1.7.2 — 2026-05-05CopyFail patch: CVE-2026-31431 in the Linux kernel. Mandatory.Tails 7.7.3 — 2026-05-12Emergency release: critical Linux kernel CVE fix (kernel 6.12.86 ships the Dirty Frag fix), plus Tor Browser and Tor client security fixes.Whirlpool Observer…

Any donation is greatly appreciated! 47e6GvjL4in5Zy5vVHMb9PQtGXQAcFvWSCQn2fuwDYZoZRk3oFjefr51WBNDGG9EjF1YDavg7pwGDFSAVWC5K42CBcLLv5U OR DONATE HERE: https://www.monerotalk.live/donate TODAY'S SHOW: In this episode of Monero Talk Douglas Tuman speaks with privacy educator and activist Naomi Brockwell for a wide-ranging conversation on the accelerating surveillance economy, the state of digital privacy tools, and the growing political and cultural fight over financial and personal freedom. Naomi explains why privacy is fundamentally tied to human autonomy, why people underestimate the dangers of mass data collection, and how governments and corporations increasingly normalize invasive monitoring. The conversation also explores Naomi's work advocating for privacy rights legislation, the chilling effect of prosecuting open-source developers, and the importance of making privacy tools accessible to everyday users rather than just technical communities. TIMESTAMPS: (00:00) Intro + sponsors (03:00) Are privacy advocates winning or losing? (08:00) Government attacks on privacy developers (11:00) Naomi's Surveillance Accountability Act explained (16:00) The Fourth Amendment in the digital age (21:00) The “third-party doctrine” and mass surveillance (28:00) Financial surveillance + the Bank Secrecy Act (34:00) Why governments monitor financial transactions (38:00) Can anti-surveillance legislation realistically pass? (43:00) How people can pressure politicians on privacy (47:00) CBDCs, AI surveillance, and the growing panopticon (53:00) Why privacy is a nonpartisan issue (58:00) Prosecuting open-source privacy developers (01:09:00) Monero, Zcash, and privacy coin adoption (01:15:00) Why privacy requires layered tools and education (01:21:00) Monero's future and full-chain membership proofs (01:25:00) Zcash, Railgun, Ethereum privacy, and interoperability (01:31:00) Building a coalition for digital privacy rights (01:36:00) Why tech — not politics — ultimately preserves freedom (01:39:00) Final thoughts + outro GUEST LINKS: https://x.com/naomibrockwell Purchase Cafe & tip the farmers w/ XMR! https://gratuitas.org/ SPONSORS: Cakewallet.com, the first open-source Monero wallet for iOS. You can even exchange between XMR, BTC, LTC & more in the app! Monero.com by Cake Wallet - ONLY Monero wallet (https://monero.com/) StealthEX, an instant exchange. Go to (https://stealthex.io) to instantly exchange between Monero and 450 plus assets, w/o having to create an account or register & with no limits. WEBSITE: https://www.monerotopia.com CONTACT: monerotalk@protonmail.com ODYSEE: https://odysee.com/@MoneroTalk:8 TWITTER: https://twitter.com/monerotalk FACEBOOK: https://www.facebook.com/MoneroTalk HOST: https://twitter.com/douglastuman INSTAGRAM: https://www.instagram.com/monerotalk TELEGRAM: https://t.me/monerotopia MATRIX: https://matrix.to/#/%23monerotopia%3Amonero.social MASTODON: @Monerotalk@mastodon.social MONERO.TOWN: https://monero.town/u/monerotalkAny donation is greatly appreciated!Any donation is greatly appreciated!

Nicholas Anthony (Research Fellow at the Cato Institute's Center for Monetary and Financial Alternatives) joins Host Ron Steslow to examine how the stablecoin legislation moving through Congress is quietly remaking the financial system and expanding the surveillance state in the process. They dig into the Bank Secrecy Act and the third-party doctrine, the legal architecture that lets the government access Americans' financial records without a warrant. Next, they examine how AI is turning mass financial surveillance from aspiration into operational reality, and how political designations can be weaponized against ordinary Americans through their banks. Then they unpack the contradictions in the Trump administration's posture—anti-CBDC in name, enthusiastically pro-stablecoin in practice—and why programmable private money is functionally a central bank digital currency at arm's length. Finally, they discuss the prosecutions of open-source developers behind privacy tools like Tornado Cash and Samurai Wallet, and what's at stake if the precedent that code is protected speech gets tested in the Supreme Court. In Politicology+, they unpack a 2021 federal mandate that will require every new car sold in America to passively monitor its driver for "impairment" by next year. POLITICOLOGY+ Not yet a Politicology+ member? Don't miss all the extra episodes on the private, ad-free version of this podcast. Upgrade now at politicology.com/plus. CONTRIBUTE TO POLITICOLOGY politicology.com/donate SPONSORS & PROMO CODES https://bit.ly/44uAGZ8 Send your questions and ideas to podcast@politicology.com or leave a voicemail at ‪(703) 239-3068‬ Follow this week's panel on X (formerly Twitter): https://x.com/RonSteslow https://x.com/EconWithNick Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of AML Conversations, John Byrne is joined by Sarah Beth Felix, author of Dirty Money Weekly, for an in-depth discussion on the evolving state of AML and BSA reform. Recorded at the close of April, the conversation examines FinCEN's proposed AML program rule, with a critical look at how concepts like “effectiveness,” “risk-based approach,” and “reasonably designed” are used—and often left undefined. Sarah and John also dig into FinCEN's latest annual report, ongoing challenges with SAR data and form design, and what proposed changes could mean for enforcement consistency and regulatory bottlenecks. The episode explores emerging issues, including the PACE Act, AML model validation, and what meaningful modernization of the Bank Secrecy Act should prioritize ahead of an upcoming congressional hearing on BSA reform.

Patrick McKenzie reads from his latest Bits About Money essay, walking through why bank fraud charges are a prosecutor's favorite tool, how the Bank Secrecy Act's surveillance regime is designed to force criminals into impossible tradeoffs, and why lying to a bank is one of the easiest crimes to prove. He then applies that framework to the April 2026 DOJ indictment of the Southern Poverty Law Center, tracing how a covert informant-payment scheme run through fictitious shell entities to become a near-textbook bank fraud case. Part 2 releases next week. –Full transcript available here: www.complexsystemspodcast.com/splc-financial-infrastructure/–Presenting Sponsors: Mercury, Granola, & MeterComplex Systems is presented by Mercury—radically better banking for founders. Mercury offers the best wire experience anywhere: fast, reliable, and free for domestic U.S. wires, so you can stay focused on growing your business. Apply online in minutes at mercury.com.If meetings consistently leave you with hazy action items and lost context, Granola handles the transcription so you can actually participate and gives you searchable notes afterward. Try it free at granola.ai/complexsystems with code COMPLEXSYSTEMSNetworking infrastructure has a way of accumulating technical debt faster than almost anything else in IT. Meter handles the full stack (wired, wireless, and cellular) as a single integrated solution: designed, deployed, and managed end-to-end so there's only one vendor to call when something goes wrong. Visit meter.com/complexsystems to book a demo.–Links:Bits About Money, Notes on a non-profit indicted for bank fraud https://www.bitsaboutmoney.com/archive/nonprofit-indicted-bank-fraud/–Timestamps:(00:00) Intro(02:43) The strategic logic of bank fraud charges in white collar indictments(05:47) Some worked examples of this in white-collar prosecutions(10:49) Criminal law textbooks published on the Internet(12:22) FFIEC BSA/AML Examination Manual(19:07) A textbook prosecution of bank fraud in many respects(27:48) This written communication is a succinct confession to bank fraud.(32:27) Data products and mechanistic decisioning

The award-winning Compliance into the Weeds is the only weekly podcast that takes a deep dive into a compliance-related topic, literally going into the weeds to explore it more fully, and looking for some hard-hitting insights on compliance. Look no further than Compliance into the Weeds! In this episode of Compliance into the Weeds, Tom Fox and Matt Kelly discuss new Federal Reserve, FDIC, and OCC model risk management guidance issued late Friday, arguing it replaces detailed, bright-line expectations with thin, principles-based language. They contrast the prior OCC guidance (109 pages) with the new 12-page document, saying it describes model risk governance abstractly but offers little direction on what banks should do, leaving decisions about materiality and oversight to management. They highlight practical consequences for bank compliance and internal audit, including reduced leverage to insist on prudent governance, potential weakening of AML model oversight under the strict-liability Bank Secrecy Act, and the risk of more arbitrary enforcement amid reduced regulatory staffing. They also note that the guidance excludes AI models, with future AI guidance promised only through a later comment process. Key highlights: From 109 pages to 12 Principles vs specifics debate Internal audit sidelined Regulators and capacity cuts AI models left out  Resources: Matt on Radical Compliance  Tom Instagram Facebook YouTube Twitter LinkedIn A multi-award-winning podcast, Compliance into the Weeds was most recently honored as one of the Top 25 Regulatory Compliance Podcasts, a Top 10 Business Law Podcast, and a Top 12 Risk Management Podcast. Compliance into the Weeds has been conferred a Davey, a Communicator Award, and a W3 Award, all for podcast excellence. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of The Consumer Finance Podcast, host Chris Willis is joined by Troutman Pepper Locke Partner Lori Sommerfield and Charles River Associates VP and Practice Leader of Financial Economics Marsha Courchane to discuss the current administration's "debanking" initiative established through Executive Order 14331. They discuss key actions taken by federal agencies to implement it, expectations for financial institutions and small business lenders to conduct internal reviews, regulatory reporting deadlines, and consequences for noncompliance. This episode also features practical tips on tools and technology that institutions/small business lenders can use to facilitate conducting debanking reviews and highlights the tension between the debanking initiative and financial institutions' need to comply with the Bank Secrecy Act and other federal anti-money laundering laws. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Peter Van Valkenburgh is the Executive Director of Coin Center, a leading nonprofit research and advocacy group focused on cryptocurrency policy. In this episode, Peter joins The Bitcoin Frontier to explore why defending the right to self-custody is about much more than bitcoin — it's about the future of individual freedom, open-source innovation, and financial privacy. We dig into the parallels between the 1990s “crypto wars” and today's digital sovereignty battles, the threats facing developers of privacy tools, and the constitutional foundations for privacy and property in the digital age.SUPPORT THE PODCAST: → Subscribe → Leave a review → Share the show with your friends and family → Send us an email: podcast@unchained.com → Learn more about Unchained: https://unchained.com/?utm_source=you... → Book a free call with a bitcoin expert: https://unchained.com/consultation?ut...TIMESTAMPS:0:00 – Intro and Peter's journey from acting to bitcoin policy2:00 – Discovering the cypherpunks and the roots of internet freedom4:00 – Entering bitcoin through law school and meeting Jerry Brito6:00 – Founding Coin Center and defining “permissionless innovation”9:00 – The mission: protecting the freedom to build and use open blockchains11:00 – Bitcoin's privacy problem and the legal risks of building privacy tech13:00 – Educating DC: explaining bitcoin to Congress in the early days16:00 – Navigating the SEC, ICOs, and defining what counts as a security18:30 – The evolution from education to constitutional litigation22:00 – Bitcoin as the revival of a “bearer instrument” economy26:00 – The “secret right to cash” and the Fourth Amendment's blind spot30:00 – Privacy, property, and what bitcoin reveals about constitutional limits35:00 – The Keep Your Coins Act and why it matters for financial sovereignty43:00 – The DOJ's shift toward prosecuting developers — and why it's dangerous46:00 – Inside the Tornado Cash and Samurai Wallet prosecutions50:00 – How Coin Center is fighting for software publishing rights54:00 – Legislative progress: Clarity, Keep Your Coins, and BRCA1:00:00 – Lessons from the 1990s encryption wars1:03:00 – How liability protections shaped (and centralized) the internet1:08:00 – The convenience dilemma: why self-custody must become easier1:12:00 – The Bank Secrecy Act, mass surveillance, and new legal challenges1:19:00 – Coin Center's constitutional lawsuits for privacy and association rights1:23:00 – Why the BSA is ripe for reform — and bitcoin's role in that debate1:27:00 – Zero-knowledge proofs, AML, and a future of privacy-preserving compliance1:29:00 – How self-custody wallets enable digital identity and personal sovereignty1:31:00 – Closing thoughts: bitcoin as the foundation for a freer digital futureWHERE TO FOLLOW US: → Unchained X: https://x.com/unchained → Unchained LinkedIn:   / unchainedcom  → Unchained Newsletter: https://unchained.com/newsletter → Joe Kelly's Twitter: https://x.com/josephkelly → Peter Van Valkenburgh's Twitter: https://x.com/valkenburgh 

Seth Hertlein is the Global Head of Policy at Ledger and one of the earliest, most persistent advocates for bitcoin self-custody in Washington. Known for his “lone ranger” years as the only lobbyist focused on protecting non-custodial rights, he brings a rare combination of securities law expertise, political insight, and deep conviction about individual property rights. In this episode, Seth joins The Last Free Americans to share how he fell down the bitcoin rabbit hole, why self-custody is a return to humanity's oldest property norms, and how today's policy battles will define digital freedom for generations. We dig into the evolution of financial intermediaries, the history of natural rights from Aristotle to the framers, and the real political forces lining up for and against self-custody.SUPPORT THE PODCAST:→ Subscribe → Leave a review → Share the show with your friends and family → Send us an email: podcast@unchained.com→ Learn more about Unchained: https://unchained.com/?utm_source=youtube&utm_medium=social&utm_campaign=podcast → Book a free call with a bitcoin expert: https://unchained.com/consultation?utm_source=youtube&utm_medium=social&utm_campaign=podcastTIMESTAMPS:0:00 – Intro to The Last Free Americans & Seth's unique role in policy2:20 – How a securities regulator became an “accidental crypto lobbyist”5:03 – Early bitcoin reading, monetary policy, and recognizing its political nature7:43 – The aha moment of self-custody: from Ledger device to first withdrawal12:58 – Ownership vs. possession: how financial markets drifted into full intermediation16:40 – Why self-custody is not new: property as a natural human right22:45 – How centralization overtook markets: certificates, DTCC, and efficiency tradeoffs27:58 – 2021: the year Washington and the industry “woke up” to each other33:10 – Keep Your Coins Act, Canadian truckers, and why lawful peer-to-peer matters38:40 – Property rights, natural law, and the framers' blind spots on privacy45:55 – Executive Order 6102, takings law, and lessons for bitcoin52:03 – How the Bank Secrecy Act and third-party doctrine became digital surveillance59:42 – The three camps opposing self-custody: nats-ec hawks, socialists, and bureaucracies1:05:40 – The IRS broker rule, CRA repeal, and precedents for stopping overreach1:11:22 – House vs. Senate language: what “retain the right” really means1:17:14 – Odds of passage in 2024 and why Senate floor time is everything1:22:44 – The global landscape: why America is still the last best hope1:27:50 – What comes next: privacy as the next digital freedom frontier1:32:10 – Closing thoughts on restoring founding principles through BitcoinWHERE TO FOLLOW US: → Unchained X: https://x.com/unchained  → Unchained LinkedIn: https://www.linkedin.com/company/unchainedcom  → Unchained Newsletter: https://unchained.com/newsletter → Joe Kelly's Twitter: https://x.com/josephkelly  → Seth Hertlein's Twitter: https://x.com/SethHertlein  

This Day in Legal History: Mississippi BurningOn November 21, 1964, a federal grand jury convened in Meridian, Mississippi, and indicted 19 men in connection with the murders of James Chaney, Andrew Goodman, and Michael Schwerner—three civil rights workers abducted and killed by the Ku Klux Klan during Freedom Summer. The brutal killings had shocked the nation, but Mississippi officials refused to pursue murder charges, prompting the federal government to step in. Lacking jurisdiction over homicide, federal prosecutors turned to a rarely used provision of the Reconstruction-era Civil Rights Act of 1870, charging the defendants with conspiracy to violate the victims' civil rights.This legal maneuver led to United States v. Price (1967), a pivotal Supreme Court case that affirmed the federal government's authority to prosecute state actors and private citizens working in concert to deprive others of constitutional rights. The Court unanimously held that the Due Process Clause of the Fourteenth Amendment could be enforced through criminal prosecution when state officials or their proxies engaged in unlawful conduct.At trial, seven of the defendants, including a deputy sheriff, were convicted—though none received more than ten years in prison. Several of the most notorious perpetrators, including Edgar Ray Killen, evaded justice for decades. Still, the case marked one of the first successful federal efforts to hold white supremacists accountable for racial violence in the Jim Crow South.The Mississippi Burning case revealed both the limits of federal power—since murder charges were off-limits—and its emerging role as a necessary backstop when local justice systems failed. It signaled a new willingness by the Department of Justice to engage in civil rights enforcement, even in the face of deep local hostility. The grand jury's action on this day helped set legal and moral precedent for future federal interventions in civil rights cases.Google is making a final argument in federal court to avoid a forced breakup of its advertising technology business, as the U.S. Department of Justice (DOJ) wraps up its antitrust case. U.S. District Judge Leonie Brinkema already ruled in April that Google maintains two illegal monopolies in the ad tech space. Now the court is weighing remedies, with the DOJ and several states pushing for the sale of Google's AdX exchange, a key platform where digital ads are auctioned in real time.During an 11-day trial that began in September, the DOJ argued that only a forced divestiture would effectively curb Google's anticompetitive conduct. In response, Google contended that breaking up its ad business would be technically disruptive and harmful to customers. The company also emphasized that it would comply with less drastic remedies.The trial represents one of the most serious legal threats to Google's ad empire to date. While Google has largely avoided major penalties in previous antitrust actions, this case—and others still pending against Meta, Amazon, and Apple—could mark a turning point in federal enforcement against Big Tech.Google has pledged to appeal any adverse ruling, including Judge Brinkema's earlier decision and a separate finding in Washington that declared Google's dominance in online search and advertising unlawful. In that case, Google was not forced to sell its Chrome browser but was ordered to share more data with competitors.The outcome of this trial could have lasting implications for the structure of the digital ad industry and the future of antitrust enforcement in the tech sector.Google aims to dodge breakup of ad business as antitrust trial wraps | ReutersAs the federal government considers limiting state regulation of artificial intelligence, many U.S. states are moving in the opposite direction—introducing legislation to curb algorithmic pricing practices that may be inflating costs for consumers. These laws target the growing use of software that sets prices based on personal data, such as location, browsing history, and past purchases. Critics argue this enables businesses to charge consumers what they're perceived to be willing to pay, not a fair market rate.Former FTC Chair Lina Khan, now advising New York City's incoming administration, is helping shape efforts to leverage state authority to combat such practices. Laws already passed in New York and California prohibit algorithmic collusion in rental markets, and 19 other states are considering similar bills to restrict price-setting based on competitor data.The issue has attracted bipartisan concern. Utah Republican Tyler Clancy plans to introduce legislation aimed at giving consumers more control over the data companies collect and use to personalize prices. Advocacy groups like Consumer Reports warn that AI-driven pricing risks exacerbating inequality, allowing companies to charge different prices based on who they think the buyer is—effectively punishing certain groups of consumers.Meanwhile, President Trump is reportedly considering an executive order that would block state-level AI rules, escalating the tension between federal deregulation efforts and state-led consumer protection initiatives.US states take aim at data-driven pricing to ease consumer pain | ReutersIn a landmark decision, the New Jersey Supreme Court has become the first high court in the U.S. to ban prosecutors from introducing expert testimony that shaking alone can cause the internal injuries typically attributed to Shaken Baby Syndrome (SBS). The 6–1 ruling came in two separate child abuse cases involving fathers accused of harming their infant sons. The court held that the state failed to show sufficient scientific consensus across relevant fields, particularly from biomechanical engineering, to justify presenting SBS as a reliable diagnosis in the absence of external trauma.While SBS has long been used to explain serious injuries like brain swelling and internal bleeding in infants—forming the basis for thousands of abuse prosecutions—the court emphasized that scientific evidence must be broadly accepted and reliable, not speculative or limited to select disciplines. Pediatricians and neurologists largely support the SBS diagnosis, but the court noted that the foundational research stemmed from a 1968 whiplash study, and the biomechanics field has not confirmed that shaking alone, without head impact, can produce the injuries.One of the defendants, Darryl Nieves, had his case dismissed, while the other, Michael Cifelli, remains charged but plans to seek dismissal based on the ruling. The decision opens the door for challenges in past SBS convictions and may limit future prosecutions relying solely on SBS testimony.Justice Fabiana Pierre-Louis wrote that the door isn't permanently closed—if future research can establish consensus, such testimony may be admitted. But for now, the ruling significantly raises the bar for the use of SBS in court. Justice Rachel Wainer Apter dissented, warning that the majority gave too much weight to a single scientific field over others.New Jersey high court first in US to ban Shaken Baby Syndrome testimony | ReutersA piece I wrote for Forbes this week examined how Foreign Bank and Financial Account (FBAR) reporting enforcement has evolved into a penalty system wildly out of sync with the actual harm caused. I opened with the United States v. Saydam decision, where a dual citizen was hit with a $437,000 civil penalty for failing to file FBAR forms—even though the government's tax loss was only about $29,000. There was no fraud, no evasion, and no criminal behavior, yet the punishment looked like something reserved for offshore tax schemers. I argued that this case shows how FBAR has drifted far from its original purpose under the Bank Secrecy Act, which was aimed at serious financial crime, not routine reporting lapses.In the article, I explained how the concept of “willfulness” has morphed into something elastic enough to include recklessness or even simple inattention, giving the IRS license to impose penalties of up to 50% of an account's highest balance per year. That structure means the punishment often bears no relation to any underlying tax obligation. Saydam's case illustrates this perfectly—the government simply took his highest‑balance year, sliced it in half, spread it across the years he didn't file, and ended up with a crushing figure.I also emphasized that the people being hit hardest aren't drug traffickers or money‑launderers; they're ordinary taxpayers with overseas ties—dual citizens, immigrants, retirees—whose “wrongdoing” is usually limited to missing a form. The court's acknowledgment that FBAR penalties are indeed “fines” under the Eighth Amendment should have prompted a stronger proportionality analysis, but instead it set a very forgiving standard for the government, effectively blessing massive penalties for paperwork lapses.In my view, when penalties exceed the actual tax loss by a factor of fifteen, we're no longer talking about a compliance tool—we're talking about a punitive revenue mechanism. The system now incentivizes extracting large sums from people who pose no threat to the tax base. Saydam didn't hide money or lie about his income; he just didn't file a disclosure. Yet he now faces nearly half a million dollars in liability. As I wrote, if this is the precedent, FBAR has stopped being a transparency measure and has become a blunt instrument aimed at immigrant taxpayers.The Rise And Proliferation Of Excessive FBAR PenaltiesThis week's closing theme is by Henry Purcell.This week's closing theme comes from Purcell, the brilliant English Baroque composer often called “the Orpheus Britannicus” for the beauty and depth of his music. Born in 1659 and active during the late 17th century, Purcell's work bridged the gap between Renaissance polyphony and the emerging Baroque style, blending French elegance, Italian expressiveness, and a distinctly English sensibility. Though he died young at just 36, his influence on British music would echo for centuries.While his “Ode to Saint Cecilia”—written for the patron saint of music—is his most direct connection to November 22, the official feast day of Saint Cecilia, Purcell's music is appropriate listening for this week. His compositions often graced the St. Cecilia Day festivals held annually in London, celebrating music itself as a divine art.The Overture in G minor, which closes our episode today, is not among his ceremonial odes but showcases many of his signature strengths: tight contrapuntal writing, a dark, dignified mood, and striking harmonic shifts that feel centuries ahead of their time. The overture begins with a slow, solemn introduction before launching into a more vigorous section, where rhythmic vitality meets melodic restraint.It's a concise, powerful piece that reflects Purcell's talent for writing music that is both emotionally direct and structurally refined. Though originally composed for a larger suite or theatrical context, it stands on its own as a miniature masterwork. As the week draws to a close and Saint Cecilia's Day approaches, Purcell's music reminds us that even in constraint—of time, of scale, of form—there can be grandeur.And with that, enjoy Purcell's Overture in G minor! This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.minimumcomp.com/subscribe

Marty sits down with Kyle Olney to discuss his journey from seizing banks during the financial crisis to becoming a Bitcoin policy advocate, the urgent fight against financial surveillance through the Bank Secrecy Act, and the critical importance of grassroots activism in defending self-custodial Bitcoin rights. Kyle on Twitter: https://www.linkedin.com/in/kyleolney Save Our Wallets: https://saveourwallets.org/ STACK SATS hat: https://tftcmerch.io/ Our newsletter: https://www.tftc.io/bitcoin-brief/ TFTC Elite (Ad-free & Discord): https://www.tftc.io/#/portal/signup/ Discord: https://discord.gg/VJ2dABShBz Opportunity Cost Extension: https://www.opportunitycost.app/ Shoutout to our sponsors: Bitkey https://bit.ly/TFTCBitkey20 Unchained https://unchained.com/tftc/ Obscura https://obscura.net/ SLNT https://slnt.com/tftc CrowdHealth https://www.joincrowdhealth.com/tftc Salt of the Earth: https://drinksote.com/tftc Join the TFTC Movement: Main YT Channel https://www.youtube.com/c/TFTC21/videos Clips YT Channel https://www.youtube.com/channel/UCUQcW3jxfQfEUS8kqR5pJtQ Website https://tftc.io/ Newsletter tftc.io/bitcoin-brief/ Twitter https://twitter.com/tftc21 Instagram https://www.instagram.com/tftc.io/ Nostr https://primal.net/tftc Follow Marty Bent: Twitter https://twitter.com/martybent Nostr https://primal.net/martybent Newsletter https://tftc.io/martys-bent/ Podcast https://www.tftc.io/tag/podcasts/

Zack Shapiro is the head of legal and policy at the Bitcoin Policy Institute and a key architect behind the Peer-to-Peer Rights Fund. He's spent years on the frontlines where law, technology, and human freedom intersect—helping lawmakers and judges understand what it means to hold value in the digital age. In this episode, Zack joins The Bitcoin Frontier to break down why self-custody is foundational to bitcoin's value, how the Clarity Act could define financial freedom for a generation, and why the right to hold your own money might be the most American right of all.We dig into the constitutional roots of property rights, how U.S. law is being stretched to fit a peer-to-peer world, and why the fight for non-custodial software developers will determine the future of bitcoin in America.SUPPORT THE PODCAST:→ Subscribe → Leave a review → Share the show with your friends and family → Send us an email: podcast@unchained.com→ Learn more about Unchained: https://unchained.com/?utm_source=you... → Book a free call with a bitcoin expert: https://unchained.com/consultation?ut...TIMESTAMPS:0:00 – Intro & the mission behind The Last Free Americans series2:00 – What self-custody really means and why it's the foundation of bitcoin's value3:45 – ETFs, financialization, and the fading connection to real bitcoin5:00 – Why self-custody matters more than ever in 20256:15 – How outdated laws are clashing with a peer-to-peer world7:40 – The Clarity Act and the battle for non-custodial rights9:00 – Would bitcoin even be valuable without self-custody?10:00 – How self-custody connects to America's founding values12:00 – The Constitution's protections for holding bitcoin: 1st, 4th, 5th, 9th Amendments16:00 – The history lesson: Executive Order 6102 and gold confiscation18:30 – Enumerated powers, the 9th Amendment, and the people's retained rights21:00 – Why protecting non-custodial developers is critical to freedom23:30 – Tornado Cash, Samurai Wallet, and the dangerous new legal precedents27:30 – Knowledge vs. intent: how the DOJ's theories stretch the law31:00 – The risk of calling developers “money transmitters”33:30 – Steelmanning the other side: why regulators see a loophole37:00 – How the Bank Secrecy Act evolved from mob busting to digital dragnet40:30 – From halawa networks to bitcoin: applying old laws to new rails42:30 – The real ideological divide: state control vs. individual liberty46:00 – Why self-custody embodies the American idea of limited government47:30 – If Bitcoin existed in 1776, would the framers have protected self-custody?49:00 – Strategy going forward: the Clarity Act, education, and vigilance52:00 – The political battle ahead: Elizabeth Warren, ICOs, and what's really at stake54:00 – How bitcoin helps the least powerful—and why that matters mostWHERE TO FOLLOW US: → Unchained X: https://x.com/unchained → Unchained LinkedIn:   / unchainedcom  → Unchained Newsletter:

Jeffrey Epstein's longtime attorney and financial fixer, Darren Indyke, has been repeatedly linked to the intricate structuring of Epstein's vast financial network — a labyrinth of trusts, shell companies, and opaque entities that concealed the flow of money used to fund his operations and, allegedly, pay off victims and accomplices. “Structuring,” in financial terms, refers to deliberately breaking up large transactions to avoid federal reporting requirements under the Bank Secrecy Act. Investigators have long suspected that Epstein and Indyke employed similar tactics to mask the source and movement of Epstein's wealth, from offshore accounts to foundations like Gratitude America Ltd., which funneled millions in donations and “grants” to scientific and philanthropic fronts that enhanced Epstein's public image. Indyke's deep involvement in setting up and managing these entities made him not just Epstein's lawyer but a key architect of the financial smoke screen that protected Epstein's empire for decades.After Epstein's death, Indyke's role came under heavier scrutiny, as he continued to act as co-executor of the estate — even while being named in multiple civil suits accusing him of enabling or facilitating Epstein's criminal conduct. Plaintiffs argued that the same structuring tactics used to obscure Epstein's finances were now being repurposed to shield assets from victims' compensation claims. Indyke has denied wrongdoing, asserting he merely executed Epstein's instructions as a lawyer and fiduciary. However, investigators have questioned how much he knew — and how complicit he was — in maintaining the secrecy that allowed Epstein's trafficking network to operate unchecked for years. Whether by legal design or deliberate obfuscation, the structuring overseen by Indyke remains one of the most revealing examples of how Epstein's financial crimes were hidden in plain sight, wrapped in the legitimacy of corporate paperwork and professional discretion.to contact me:bobbycapucci@protonmail.com

Jeffrey Epstein's longtime attorney and financial fixer, Darren Indyke, has been repeatedly linked to the intricate structuring of Epstein's vast financial network — a labyrinth of trusts, shell companies, and opaque entities that concealed the flow of money used to fund his operations and, allegedly, pay off victims and accomplices. “Structuring,” in financial terms, refers to deliberately breaking up large transactions to avoid federal reporting requirements under the Bank Secrecy Act. Investigators have long suspected that Epstein and Indyke employed similar tactics to mask the source and movement of Epstein's wealth, from offshore accounts to foundations like Gratitude America Ltd., which funneled millions in donations and “grants” to scientific and philanthropic fronts that enhanced Epstein's public image. Indyke's deep involvement in setting up and managing these entities made him not just Epstein's lawyer but a key architect of the financial smoke screen that protected Epstein's empire for decades.After Epstein's death, Indyke's role came under heavier scrutiny, as he continued to act as co-executor of the estate — even while being named in multiple civil suits accusing him of enabling or facilitating Epstein's criminal conduct. Plaintiffs argued that the same structuring tactics used to obscure Epstein's finances were now being repurposed to shield assets from victims' compensation claims. Indyke has denied wrongdoing, asserting he merely executed Epstein's instructions as a lawyer and fiduciary. However, investigators have questioned how much he knew — and how complicit he was — in maintaining the secrecy that allowed Epstein's trafficking network to operate unchecked for years. Whether by legal design or deliberate obfuscation, the structuring overseen by Indyke remains one of the most revealing examples of how Epstein's financial crimes were hidden in plain sight, wrapped in the legitimacy of corporate paperwork and professional discretion.to contact me:bobbycapucci@protonmail.comBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support.

Jeffrey Epstein's longtime attorney and financial fixer, Darren Indyke, has been repeatedly linked to the intricate structuring of Epstein's vast financial network — a labyrinth of trusts, shell companies, and opaque entities that concealed the flow of money used to fund his operations and, allegedly, pay off victims and accomplices. “Structuring,” in financial terms, refers to deliberately breaking up large transactions to avoid federal reporting requirements under the Bank Secrecy Act. Investigators have long suspected that Epstein and Indyke employed similar tactics to mask the source and movement of Epstein's wealth, from offshore accounts to foundations like Gratitude America Ltd., which funneled millions in donations and “grants” to scientific and philanthropic fronts that enhanced Epstein's public image. Indyke's deep involvement in setting up and managing these entities made him not just Epstein's lawyer but a key architect of the financial smoke screen that protected Epstein's empire for decades.After Epstein's death, Indyke's role came under heavier scrutiny, as he continued to act as co-executor of the estate — even while being named in multiple civil suits accusing him of enabling or facilitating Epstein's criminal conduct. Plaintiffs argued that the same structuring tactics used to obscure Epstein's finances were now being repurposed to shield assets from victims' compensation claims. Indyke has denied wrongdoing, asserting he merely executed Epstein's instructions as a lawyer and fiduciary. However, investigators have questioned how much he knew — and how complicit he was — in maintaining the secrecy that allowed Epstein's trafficking network to operate unchecked for years. Whether by legal design or deliberate obfuscation, the structuring overseen by Indyke remains one of the most revealing examples of how Epstein's financial crimes were hidden in plain sight, wrapped in the legitimacy of corporate paperwork and professional discretion.to contact me:bobbycapucci@protonmail.comBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-moscow-murders-and-more--5852883/support.

Tim Hite is the director of policy at Exodus and a former congressional staffer for Rep. Warren Davidson. He helped shape early self-custody legislation—including the Keep Your Coins Act (a playful nod to “KYC”)—and bridges law, technology, and individual rights. In this episode, Tim's discussion kicks off The Last Free Americans miniseries to share the origin story of self-custody protections on Capitol Hill, how “keep your coins” language differs from the Clarity Act's approach, and what meaningful safeguards against CBDCs could look like. We dig into the evolution of property rights in a digital world, why illicit-finance fears are often overstated, and how social media has changed the legislative battlefield.SUPPORT THE PODCAST:→ Subscribe→ Leave a review→ Share the show with your friends and family→ Send us an email: podcast@unchained.com→ Learn more about Unchained: https://unchained.com/?utm_source=youtube&utm_medium=social&utm_campaign=podcast→ Book a free call with a bitcoin expert: https://unchained.com/consultation?utm_source=youtube&utm_medium=social&utm_campaign=podcastTIMESTAMPS:0:00 – Intro, disclaimers & why self-custody matters now0:51 – “The Last Free Americans”: series premise1:16 – Tim's path: 2017 bull run, law school, FINRA, and meeting Rep. Davidson3:34 – From Hill staffer to crypto policy: Token Taxonomy Act & early frameworks6:51 – The spark for the Keep Your Coins Act and naming the bill11:12 – Two legislative styles: affirming a right vs. restricting regulators16:24 – Digital ownership as a new chapter in American property rights19:05 – CBDCs vs. self-custody: opposite ends of the spectrum22:30 – Social media's role: sunlight, mobilization, and changing the odds30:34 – The 2020 “unhosted wallet” rule & why KYCs on self-hosted wallets don't fit39:00 – Bank Secrecy Act's $10k threshold, report overload, and diminishing returns41:37 – House passage, Senate path, and realistic timelines for the Clarity Act47:26 – What's next: tokenized securities and the future of self-custody52:58 – Peer-to-peer (with an asterisk): whitelists, accounts, and true control55:01 – Closing thoughts: momentum, vigilance, and “nature finds a way”WHERE TO FOLLOW US: → Unchained X: https://x.com/unchained  → Unchained LinkedIn: https://www.linkedin.com/company/unchainedcom  → Unchained Newsletter: https://unchained.com/newsletter → Joe Kelly's Twitter: https://x.com/josephkelly  → Tim Hite's Twitter: https://x.com/TimHite  → Jose Burgos (Director of Media Production): https://x.com/DeFBeD

My guest today is Nick Anthony, a policy analyst at the Cato Institute, a fellow at HRF, and one of the clearest voices dissecting CBDCs, financial privacy, and government overreach. He authored the book “digital currency or digital control?” and advocates for freedom and privacy. In this episode, we explore how governments use propaganda to sell CBDCs as “digital cash,” despite public resistance, and how pilots in China and The Bahamas reveal low adoption and rising coercion. Nick explains why control is a universal temptation across democracies and autocracies, and how the Bank Secrecy Act created 55 years of normalized financial monitoring in the United States. We discuss the distinction between stablecoins and CBDCs, the slow global rollout of digital currencies, and why Bitcoin's censorship resistance remains essential, alongside other freedom tech tools. He also shares insights from his work maintaining HRF's CBDC Tracker, his visit to the European Parliament, and his warning that even if CBDCs fail, today's financial system already operates as a surveillance regime.► If you got value, please like, comment, share, follow and support my work. Thank you!-- SPONSORS --→ Get your TREZOR wallet & accessories, with a 5% discount, using my code at checkout (get my discount code from the episode - yep, you'll have to watch it): https://affil.trezor.io/SHUn→ Shield your bitcoin with time-delayed transactions over multisig with BitVault: https://bit.ly/bitvault_efrat → Have you tried mining bitcoin? Stack sats directly to your wallet while saving on taxes with Abundant Mines: https://AbundantMines.com/Efrat – AFFILIATES –→ Get 10% off on Augmented NAC, with the code YCXKQDK2 via this link: https://store.augmentednac.com/?via=efrat (Note, this is not medical advice and you should consult your MD)→ Watch “New Totalitarian Order” conference with Prof. Mattias Desmet & Efrat - code EFRAT for 10% off: https://efenigson.gumroad.com/l/desmet_efrat → Get a second citizenship and a plan B to relocate to another country with Expat Money, leave your details for a follow up: https://expatmoney.com/efrat → Join me in any of these upcoming events: https://www.efrat.blog/p/upcoming-events -- LINKS –Nick's Twitter: https://x.com/EconWithNick Cato Institute Twitter: https://x.com/CatoInstitute HRF's CBDC Tracker: https://cbdctracker.hrf.org/home Efrat's Twitter: https://twitter.com/efenigsonEfrat's Channels: https://linktr.ee/efenigsonWatch/listen on all platforms: https://linktr.ee/yourethevoiceSupport Efrat's work: ⁠https://www.buymeacoffee.com/efenigson   ⁠Support Efrat with Bitcoin: https://geyser.fund/project/efenigson-- CHAPTERS –00:00 - Coming Up…01:39 - Meet Nick Anthony: Policy Analyst & CBDC Critic03:03 - What Problems CBDC Pretends to Solve?04:48 - CBDCs: Problems and Propaganda08:03 - Real-World Examples: China & The Bahamas13:59 - Ad Break: Trezor, BitVault & Abundant Mines16:39 - Stablecoins vs. CBDCs: A Critical Comparison21:56 - The Future of CBDCs, And Bitcoin's Role24:13 - Financial Privacy, Bitcoin and Cash31:54 - Message to CBDC Legislators33:08 - Nick's Visit to the EU Parliament35:08 - How To Explain Why We Need An Exit36:53 - Wholesale vs. Retail CBDCs

Today's headlines point to a massive potential turning point for crypto markets. Mike Novogratz of Galaxy Digital says macro forces like Fed policy and global liquidity will drive Bitcoin's next major move — just as analysts eye $7.5 trillion in sidelined capital that could flood into risk assets. Meanwhile, Polymarket is seeking funding at a $15 billion valuation, showing surging demand for on-chain prediction markets, and U.S. senators have introduced a bill to ease Bank Secrecy Act reporting limits, potentially reducing regulatory pressure on crypto users. With Bitcoin hovering near $120K, traders are watching closely for the next breakout — could this be the spark that propels BTC into its next leg higher?

Since its passage in 1970, the Bank Secrecy Act has fundamentally transformed the relationship between Americans and their financial institutions, creating an unprecedented surveillance apparatus that monitors virtually every financial transaction. What began as a tool to combat tax cheats has evolved into a comprehensive system of financial monitoring that affects everyone.This timely discussion will explore how the Bank Secrecy Act has shaped modern banking, its implications for Fourth Amendment protections, and the urgent need for reform in an era of increasing digital surveillance. Our panel will examine the intersection of financial privacy, technological innovation, and constitutional rights, offering insights into how we can restore the balance between security and liberty.Join us for a critical examination of the Bank Secrecy Act as it reaches its 55th anniversary—a milestone that calls for urgent reflection on the state of financial privacy in America. Hosted on Acast. See acast.com/privacy for more information.

Banks have been using natural language processing and machine learning applications for years in managing their anti-money laundering and Bank Secrecy Act obligations. But how does the growing adoption of generative AI tools affect how BSA and fraud professionals protect their banks? On the latest episode of the ABA Banking Journal Podcast — presented by Agri-Access — former FDIC official Lisa Arquette shares a regulator's-eye view of generative AI in the BSA world and how regulators have been approaching the technology for their own work. Joined by ABA SVP Heather Trew, Arquette also discusses: The state of play on banks' beneficial ownership reporting obligations. Other elements of implementing the AML Act of 2020. How regulators weigh AML/BSA performance when approving mergers and acquisitions. Fluctuations in AML/BSA compliance investments through the economic cycle. The low number (1%) of BSA-related examinations at the FDIC that result in enforcement actions. Register for the ABA Financial Crimes Enforcement Conference, Oct. 14-16 in Arlington, Virginia.

Days before the anniversary of 9/11, the Treasury rolled out sweeping reforms to the Bank Secrecy Act, a Patriot Act 2.0 aimed at the digital world. These new powers would give government agencies the ability to censor crypto transactions, track your spending, and shut down financial freedom at will.SPONSORS✅ Lednhttps://learn.ledn.io/simplySimply Bitcoin clients get 0.25% off their first loanNeed liquidity without selling your Bitcoin? Ledn has been the trusted Bitcoin-backed lending platform for 6+ years. Access your BTC's value while HODLing.

The panel opened with reflections on the tragic assassination of Charlie Kirk and other recent violent events, framing them through the lens of The Fourth Turning by Strauss & Howe.Discussion on how history moves in ~80–100 year cycles of crisis and renewal, with Bitcoin and decentralized protocols potentially forming the backbone of the next institutional order.John emphasized perspective, comparing today's turmoil with past upheavals (1960s, 1970s, World Wars), and highlighted the role of media saturation in shaping perceptions.Panelists praised Kirk's willingness to debate respectfully, lamenting the erosion of open dialogue in society.Shifted to macro: China's gold accumulation as a hedge against dollar hegemony, interpreted as part of a global move toward neutral reserve assets—gold today, Bitcoin tomorrow.Deep dive into U.S. financial surveillance: the inefficiencies of the Bank Secrecy Act (BSA) and threats of extending the Patriot Act to digital assets. Panelists argued KYC/AML laws are largely ineffective at stopping crime but very effective at surveilling citizens.Highlighted the DOJ's case against Samourai Wallet as an example of U.S. hostility toward Bitcoin privacy tools.Covered this week's major supply-chain attack on NPM packages, noting minimal impact but using it as a PSA: always verify addresses on hardware wallets and beware phishing scams.Tether launched a U.S.-regulated stablecoin (USAT). The panel explored how this intersects with the Genius Act, which would require stablecoin reserves to be in U.S. Treasuries, effectively creating a new forced buyer of U.S. debt.Quick hits: MicroStrategy denied S&P 500 inclusion (for now), BLS quietly revised U.S. job numbers down by 900k, Gemini goes public, and Michael Saylor positions MicroStrategy as a “Bitcoin capital markets” play. Swan Private helps HNWI, companies, trusts, and other entities go beyond legacy finance with BItcoin. Learn more at swan.com/private. Put Bitcoin into your IRA and own your future. Check out swan.com/ira.Swan Vault makes advanced Bitcoin security simple. Learn more at swan.com/vault.

Senate Democrats have introduced their own framework for crypto market structure, setting up negotiations with Republicans and potentially clearing the way for bipartisan legislation. The proposal gives the CFTC new powers, pushes for exchange registration under the Bank Secrecy Act, flags DeFi for potential oversight, and seeks to ban stablecoin interest. It also takes political aim at Trump-era crypto projects and calls for stronger ethics rules. With both parties now at the table, the next few months could finally bring real progress on U.S. digital asset legislation, even as TradFi and crypto players race ahead with their own market structure experiments. Enjoying this content? SUBSCRIBE to the Podcast: https://pod.link/1438693620 Watch on YouTube: https://www.youtube.com/@TheBreakdownBW Subscribe to the newsletter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://blockworks.co/newsletter/thebreakdown⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownBW

Police Under Cover Truths: Inside His DEA Career, Cartels, and Motorcycle Gangs. For more than two decades, David Tyree lived a double life. On the surface, he was a dedicated agent with the Drug Enforcement Administration (DEA). Behind the scenes, he infiltrated some of the most dangerous organizations in the world, outlaw motorcycle gangs and international drug cartels. The Law Enforcement Talk Radio Show and Podcast promoted across their Facebook , Instagram , LinkedIn , Medium and other social media platforms. “I spent years sitting across from people who wouldn't hesitate to kill me if they knew who I really was,” Tyree said during a recent interview. “The stakes were always life or death. But the mission, to dismantle these organizations, was worth every risk.” He is the guest on the Law Enforcement Talk Radio Show and Podcast, available for free on their website, on Apple Podcasts, Spotify, and most podcast platforms. Undercover Against Motorcycle Gangs Tyree's undercover work included working with outlaw motorcycle clubs, also known as “one-percenters.” These organizations often present themselves as brotherhoods of riders but, as the Department of Justice points out, many function as highly structured criminal enterprises. Look for supporting stories about this and much more from Law Enforcement Talk Radio Show and Podcast in platforms like Medium , Blogspot and Linkedin . “The ‘Big Four' dominate the outlaw motorcycle scene,” Tyree explained. “These groups aren't just about bikes. They're about drugs, weapons, extortion, and serious violence. My job was to get inside and stay alive long enough to make a difference.” Police Under Cover Truths: Inside His DEA Career, Cartels, and Motorcycle Gangs. According to federal reports, there are more than 300 active motorcycle gangs in the U.S. Some operations are small, but others span hundreds of chapters worldwide, often working hand-in-hand with drug cartels. Cartels, Cash, and Money Laundering Tyree's assignments expanded beyond biker gangs. He went undercover as a drug dealer, then later as a money launderer, targeting powerful South American and Central American drug cartels. Available for free on their website and streaming on Apple Podcasts, Spotify, and other podcast platforms. “These cartels are multinational corporations of crime,” he said. “Drugs, cash, money, violence, it's all part of their business model. They'll work with anyone who helps them move product or clean their dirty money.” Wikipedia describes cartels as alliances of independent drug lords who collaborate to dominate the illegal trade. Tyree saw firsthand how groups like the Sinaloa Cartel and Los Zetas waged bloody turf wars while smuggling narcotics across borders. Police Under Cover Truths: Inside His DEA Career, Cartels, and Motorcycle Gangs. The Law Enforcement Talk Radio Show and Podcast episode is available for free on their website , Apple Podcasts , Spotify and most major podcast platforms. “One day I could be moving fake loads of cocaine, the next day I'd be laundering millions in cash,” he recalled. “The psychological toll was real. You don't just walk away from that without scars.” Shattering the Hollywood Myths Much of what the public knows about undercover work comes from movies and TV. Tyree insists that reality is far different. “One big myth is that agents have to use drugs to prove themselves,” he said. “That's absolutely false. If you do that, you compromise the case. There are ways around those tests of loyalty, and we were trained to handle them.” Another misconception is that undercover life is constant action. In truth, many investigations stretched over a year or more. “Paperwork was just as important as the undercover work,” Tyree explained. “Evidence, lab reports, case files, that's what puts people in prison.” The full podcast episode is streaming now on Apple Podcasts, Spotify, and across Facebook, Instagram, and LinkedIn. As for agents going “soft” on their targets? Tyree dismisses the idea. “You might build rapport, but you never forget who you're dealing with. These are people who thrive on violence and greed.” Police Under Cover Truths: Inside His DEA Career, Cartels, and Motorcycle Gangs. Even his own family didn't always know the full truth. “I kept a lot to myself,” he admitted. “Sometimes it was to protect them, sometimes just to keep them from worrying.” Battling Trauma, and Cancer The stress of living under a false identity, constantly under threat, took its toll. Tyree admits nervousness was a constant companion early on. “I had to learn techniques to stay calm, to stay focused,” he said. The Law Enforcement Talk Radio Show and Podcast promoted across their Facebook , Instagram , LinkedIn , Medium and other social media platforms. As his career wound down, Tyree faced a different kind of fight, cancer. “It was one of the toughest battles of my life, but the same resilience I built undercover helped me through it.” His Cancer diagnosis was the result of a dare and bet. He is a huge advocate for early and frequent health screenings. Police Under Cover Truths: Inside His DEA Career, Cartels, and Motorcycle Gangs. Life After the DEA Today, Tyree is retired from the DEA but far from finished with his mission. He serves as a Senior Advisor on Financial Crime Detection and Anti-Money Laundering with Valid8 Financial and is an instructor with the Association of Certified Anti-Money Laundering Specialists. With 25 years of experience, he now uses his expertise to help financial institutions, government agencies, and law enforcement combat crime through Bank Secrecy Act, AML, KYC, and due diligence processes. Check out the Law Enforcement Talk Radio Show and Podcast promoted across their Facebook , Instagram , LinkedIn , Medium and other social media platforms. “Whether it was chasing cartels or building compliance systems, the goal has always been the same, protect people, protect society,” he said. Telling His Story Tyree now shares his story through interviews, news outlets, and guest appearances on podcasts like the Law Enforcement Talk Radio show and podcast, which is available for free on their website, also on Apple Podcasts, Spotify and mroe. His recent feature, Police Under Cover Truths, pulls back the curtain on undercover operations, addressing both the myths and the realities of life in deep cover. Police Under Cover Truths: Inside His DEA Career, Cartels, and Motorcycle Gangs. He also connects with audiences check out the Law Enforcement Talk Radio Show and Podcast on Facebook, Instagram, and LinkedIn, where he continues to educate others about the risks of organized crime and the importance of financial vigilance. “I don't glamorize what I did,” Tyree concluded. “It was dangerous, it was messy, and sometimes it was terrifying. But it was necessary. And if people can learn something from my career, whether it's about cartels, motorcycle gangs, or money laundering, then sharing these truths is worth it.” Be sure to check out our website . Be sure to follow us on MeWe , X , Instagram , Facebook, Pinterest, Linkedin and other social media platforms for the latest episodes and news. You can help contribute money to make the Gunrunner Movie . The film that Hollywood won't touch. It is about a now Retired Police Officer that was shot 6 times while investigating Gunrunning. He died 3 times during Medical treatment and was resuscitated. You can join the fight by giving a monetary “gift” to help ensure the making of his film at agunrunnerfilm.com . Background song Hurricane is used with permission from the band Dark Horse Flyer. You can contact John J. “Jay” Wiley by email at Jay@letradio.com , or learn more about him on their website . The full interview is streaming now on Apple Podcasts, Spotify, and the Law Enforcement Talk Radio Show website. Get the latest news articles, without all the bias and spin, from the Law Enforcement Talk Radio Show and Podcast on Medium , which is free. Find a wide variety of great podcasts online at The Podcast Zone Facebook Page , look for the one with the bright green logo. Police Under Cover Truths: Inside His DEA Career, Cartels, and Motorcycle Gangs. Attributions Valid8 Financial DOJ Wikipedia Business Insider  

Gm! This week Yano was joined by Commissioner Hester Peirce to dive into how the SEC is rethinking and reframing the role that digital assets can play in the financial landscape of the US. In a balancing act between fostering innovation and protecting consumers, Commissioner Peirce's job is an important one to move the industry forward stateisde.  -- Start your day with crypto news, analysis and data from David Canellis. Subscribe to the Empire newsletter: https://blockworks.co/newsletter/empire?utm_source=podcasts -- Follow Commissioner Peirce: https://x.com/HesterPeirce Follow Jason: https://x.com/JasonYanowitz Follow Empire: https://twitter.com/theempirepod -- Join the Empire Telegram: https://t.me/+CaCYvTOB4Eg1OWJh -- SKALE is the next evolution in Layer 1 blockchains with a gas-free invisible user experience, instant finality, high speed, and robust security. SKALE is built different as it allows for limitless scalability and has already saved its 50 Million users over $11 Billion in gas fees.  SKALE is high-performance and cost-effective, making it ideal for compute-intensive applications like AI, gaming, and consumer-facing dApps. Learn more at https://skale.space and stay up to date with the gas-free invisible blockchain on X at @skalenetwork -- Katana is a DeFi-first chain built for deep liquidity and high yield. No empty emissions, just real yield and sequencer fees routed back to DeFi users.  Pre-deposit now: Earn high APRs with Turtle Club [https://app.turtle.club/campaigns/katana] or spin the wheel with Katana Krates [https://app.katana.network/krates] – Chapters: (00:00) Intro (02:14) Early To Crypto (07:45) TradFi Censorship (09:20) Goal of SEC (13:06) Ads (Skale, Katana) (14:36) Token Launches & Transparency (22:43) AirDrops/ICOs  (23:57) Accredited Investor Rules (25:00) Trillion Dollar Private Companies (26:30) Innovation vs Protecting Consumers (29:35) Licensing  (35:52) Ads (Skale, Katana) (37:22) Bank Secrecy Act (40:29) Privacy In Crypto (46:48) Self Custody (49:20) DATs (51:15) New ETFs (55:51) Prediction Markets (57:21) Politicization of Crypto — Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.

Donald Trump signs an executive order designed to combat 'debanking,' which deprives individuals and businesses of financial services. How bad is the problem, what's in the Trump order, and will it be enough to rein in regulators that put pressure on banks to cancel customers that supposedly pose "reputational risk"? Or does Congress also need to pass legislation making the changes permanent, reforming the Bank Secrecy Act, and encouraging more bank competition?  Learn more about your ad choices. Visit megaphone.fm/adchoices

Marty sits down with Yael, a fellow at the Bitcoin Policy Institute, to discuss the intersection of Bitcoin, AI, and energy policy, the importance of negative rights versus positive rights in legislation, the problems with the Bank Secrecy Act, and practical policy priorities for protecting Bitcoin users and developers. Yaël Ossowski on Twitter: https://x.com/YaelOss Yaël's Website: https://yael.ca/ BPI: https://www.btcpolicy.org/ STACK SATS hat: https://tftcmerch.io/ Our newsletter: https://www.tftc.io/bitcoin-brief/ TFTC Elite (Ad-free & Discord): https://www.tftc.io/#/portal/signup/ Discord: https://discord.gg/VJ2dABShBz Opportunity Cost Extension: https://www.opportunitycost.app/ Shoutout to our sponsors: Coinkite https://coinkite.com Unchained https://unchained.com/tftc/ Join the TFTC Movement: Main YT Channel https://www.youtube.com/c/TFTC21/videos Clips YT Channel https://www.youtube.com/channel/UCUQcW3jxfQfEUS8kqR5pJtQ Website https://tftc.io/ Newsletter tftc.io/bitcoin-brief/ Twitter https://twitter.com/tftc21 Instagram https://www.instagram.com/tftc.io/ Nostr https://primal.net/tftc Follow Marty Bent: Twitter https://twitter.com/martybent Nostr https://primal.net/martybent Newsletter https://tftc.io/martys-bent/ Podcast https://www.tftc.io/tag/podcasts/

Any donation is greatly appreciated! 47e6GvjL4in5Zy5vVHMb9PQtGXQAcFvWSCQn2fuwDYZoZRk3oFjefr51WBNDGG9EjF1YDavg7pwGDFSAVWC5K42CBcLLv5U OR DONATE HERE: https://www.monerotalk.live/donate TODAY'S SHOW: In this episode of Monero Talk, legal expert Zach Shapiro joins Douglas Tuman to discuss U.S. cryptocurrency legislation, the legal challenges facing privacy tech, and the philosophical divide between building unstoppable systems versus working within regulatory frameworks. Shapiro, who runs a crypto-focused law firm and is involved with the Bitcoin Policy Institute and Peer-to-Peer Rights Foundation, outlines recent bills in Congress—including the Clarity Act and Genius Act—and their implications for developers and privacy advocates. He and Doug debate Bitcoin vs. Monero, focusing on fungibility and censorship resistance, with Shapiro defending Bitcoin's legal positioning and Doug championing Monero's privacy features. The episode also covers ongoing cases like Tornado Cash, the status of Samurai Wallet, and efforts to repeal New York's restrictive BitLicense. TIMESTAMPS: (00:02:12) – Introduction to Zach's background and involvement with the Bitcoin Policy Institute, Peer-to-Peer Rights Foundation. (00:08:13) – Zach's perspective on various technologies: Bitcoin, stablecoins, DAOs. (00:12:21) – Debate on fungibility: Bitcoin vs Monero. (00:17:09) – Is Bitcoin functionally fungible? Legal and policy perspectives. (00:20:00) – Cash vs Bitcoin legal treatment in cases of stolen funds. (00:28:57) – Mining decentralization: ASICs, CPUs, regulatory capture. (00:33:18) – Zach's overall take on Monero vs Bitcoin. (00:36:15) – Explanation of 3 key crypto-related bills (Genius Act, Clarity Act, Anti-CBDC Bill) (00:43:23) – Implications of Section 110 for privacy developers. (00:46:25) – Concerns over Genius Act enabling “backdoor CBDC.” (00:53:00) – What would Satoshi think about current crypto laws and stablecoins? (00:58:02) – Genius Act's effect on algorithmic stablecoins (likely banned). (01:02:12) – Genius Act vs Clarity Act: Pros and cons for Monero. (01:06:01) – Eliminating capital gains for crypto use — is it possible? (01:07:50) – Comments on the Bank Secrecy Act, impact of Calirty Act for Monero, NY's BitLicense, and Monero exchange bans. (01:11:18) - Closing Remarks GUEST LINKS: https://x.com/zackbshapiro Purchase Cafe & tip the farmers w/ XMR! https://gratuitas.org/ Purchase a plug & play Monero node at https://moneronodo.com SPONSORS: Cakewallet.com, the first open-source Monero wallet for iOS. You can even exchange between XMR, BTC, LTC & more in the app! Monero.com by Cake Wallet - ONLY Monero wallet (https://monero.com/) StealthEX, an instant exchange. Go to (https://stealthex.io) to instantly exchange between Monero and 450 plus assets, w/o having to create an account or register & with no limits. WEBSITE: https://www.monerotopia.com CONTACT: monerotalk@protonmail.com ODYSEE: https://odysee.com/@MoneroTalk:8 TWITTER: https://twitter.com/monerotalk FACEBOOK: https://www.facebook.com/MoneroTalk HOST: https://twitter.com/douglastuman INSTAGRAM: https://www.instagram.com/monerotalk TELEGRAM: https://t.me/monerotopia MATRIX: https://matrix.to/#/%23monerotopia%3Amonero.social MASTODON: @Monerotalk@mastodon.social MONERO.TOWN: https://monero.town/u/monerotalkAny donation is greatly appreciated!Any donation is greatly appreciated!

Is your financial life really private? In this eye-opening episode, Cato Institute's Norbert Michel and Nicholas Anthony take us deep into the world of financial surveillance, starting with the 1970 Bank Secrecy Act. What was originally sold as a tool to catch tax cheats has quietly evolved into a sprawling system of government oversight—with banks and financial institutions acting as unwitting watchdogs. From suspicious activity reports to the third-party doctrine, Norbert and Nicholas explain how the erosion of Fourth Amendment protections has happened largely out of public view. They break down the law's legacy, how it expanded post-9/11, and why $10,000 isn't the large sum it once was. But there's reason for optimism. With growing public awareness, privacy-focused tech, and new reform legislation finally on the table, change might be within reach. If you thought your bank account was your business, think again—this episode will make you see it in a whole new light.Show Notes:Norbert Michel and Jennifer J. Schulp, "Revising the Bank Secrecy Act to Protect Privacy and Deter Criminals" Policy Analysis No. 932, July 26, 2022Nicholas Anthony, "The Right to Financial Privacy" Policy Analysis No. 945, May 2, 2023Norbert Michel, "The Bank Secrecy Act Is a Bigger Threat than FISA" Forbes, April 17, 2024Nicholas Anthony and Naomi Brockwell, "The Illusion of Financial Privacy" Reason.com, May 30, 2024 Hosted on Acast. See acast.com/privacy for more information.

Contribute to Politicology at politicology.com/donate To unlock Politicology+ visit politicology.com/plus This week, Ron Steslow and Jennifer Schulp (Director of Financial Regulation Studies at the Cato Institute's Center for Monetary and Financial Alternatives) discuss the Senate passing the GENIUS Act to regulate stablecoins. They dive into the implications of the Bank Secrecy Act and the critical importance of privacy-enhancing tools in the digital age. They explore how new legislation impacts personal privacy, the role of stablecoins in the financial ecosystem, and the potential consequences of government surveillance.   Then, in Politicology+ they discuss political corruption in cryptocurrency and Congressional stock trading. They dive into the lack of political will to combat it, despite public outcry, and the challenges of enforcing ethical standards. Not yet a Politicology+ member? Don't miss all the extra episodes on the private, ad-free version of this podcast. Upgrade now at politicology.com/plus. Send your questions and ideas to podcast@politicology.com or leave a voicemail at ‪(703) 239-3068‬ Follow this week's panel on X (formerly Twitter): https://twitter.com/RonSteslow https://x.com/jenniferjschulp Related Reading:  CNBC - Senate passes GENIUS stablecoin bill, giving crypto industry first major legislative win Learn more about your ad choices. Visit megaphone.fm/adchoices

with @MinarikLaw @EMinSF @rhhackettImagine waking up one day to find your bank account frozen. No warning. No explanation. No recourse.This is not a thought experiment. It's a real situation. And it's happened not just to crypto companies and their founders, but to ordinary people who are just trying to live their lives. That includes our guest today, who learned firsthand what it means to be “debanked.”In this episode, we talk about the unseen algorithms that monitor people's accounts, the ramifications of the Bank Secrecy Act, and how crypto and decentralized finance may offer a much-needed check — and safety net — against the opaque systems of traditional finance.Joining us are:Uniswap Labs's Chief Legal Officer Katherine Minarik, who shares her personal story of being debanked and what it taught her.a16z crypto Finance and Operations Partner Em Westerhold, who helps founders navigate these issues, and who has tracked dozens of instances of debanking across our own portfolio.A big thank you to Katherine for trusting us to share her story, which you can read a first-hand account of in an op-ed she contributed to a16zcrypto.com earlier this year. Find that and more below.Timestamps:(0:00) Introduction(2:03) The Problem of Debanking(5:58) Debanking: A Personal Story(7:33) Understanding the Bank Secrecy Act(11:53) The Information Vacuum(16:55) The Impact on Crypto Companies(20:07) Addressing Skeptics(22:07) Banks: Good vs. Bad(27:35) The Scariest Moment(36:17) "Operation Chokepoint 2.0"(38:08) History of the Bank Secrecy Act(44:04) Security Theater(45:31) What Would You Change?(48:45) The Impact of Financial Consolidation(49:30) Crypto as Banking Solution(53:02) Is Debanking Still Happening?(58:35) Unresolved Mysteries(1:01:47) One More Debanking Story(1:08:07) Conspiracy or Coincidence?(1:09:39) It Shouldn't Be This Hard(1:11:18) Out From Under the SEC's Cloud(1:14:23) The Urgent Need for Legislation(1:17:26) Possible Tech Futures(1:19:33) Advice for Founders(1:22:04) Final ThoughtsResources:Anyone can get debanked. DeFi is a critical safety net by Katherine Minarik (a16z crypto, February 2025)This op-ed is part of a bigger package of crypto policy views found here: “U.S. as the crypto capital: What it would take”Debanking: What you need to know (a16z crypto, December 2024)End the era of mass financial surveillance by Grant Rabenn (a16z crypto, February 2025)As a reminder, none of the content should be taken as investment, business, legal, or tax advice; please see a16z.com/disclosures for more important information, including a link to a list of our investments.

In May 2025, Coinbase, one of the largest cryptocurrency exchanges in the world, got hacked. Or did they? It was more like a near-miss. But while we might wipe our brows in relief over this latest mishap, it doesn't bode well for the future of cryptocurrency, which is currently unregulated, uninsured, and just waiting for the next big catastrophe to leave investors crying in their collective beers over their lost millions.Join us for a tour of some of most disastrous crypto hacks of yesteryear like Mt Gox and Bybit, and what we see coming for the future of crypto. Hint: It's not pretty.ResourcesCoinbase: Protecting Our Customers - Standing Up to ExtortionistsThe Story of Mt. Gox: ExplainedBank Secrecy Act (BSA)What Is Crypto KYC and Why Do Exchanges Need It in 2025?The ByBit Heist and the Future of U.S. Crypto RegulationTop 10 Cryptos to Invest In May 2025.Send us a textReal Talk About MarketingAn Acxiom podcast where we discuss marketing made better, bringing you real...Listen on: Apple Podcasts SpotifySupport the showJoin our Patreon to listen ad-free!

Legislators and regulators are strongly focused on policy related to payment stablecoins, most recently with the passage of the Genius Act in the Senate Banking Committee. On this episode of the ABA Banking Journal Podcast — presented by nCino — ABA's Brooke Ybarra and Kirsten Sutton discuss the current policy and technology landscape on stablecoins. Among other topics, they talk about: How stablecoins work and why people are interested in this kind of digital asset. Use cases for payment stablecoins, such as cross-border payments. Challenges that stablecoins may pose for today's anti-money laundering and Bank Secrecy Act framework. The outlook in Congress for the Stable Act in the House and the Genius Act in the Senate and what these bills would do. Key principles for thinking about stablecoins, including economic effects, disintermediation of financial institutions, regulatory arbitrage and consumer protection. How ABA is engaging on Capitol Hill and with regulatory agencies on stablecoin issues.

Harsha & Stephan discuss the challenges Bitcoin businesses face regarding regulation, particularly the tightening KYC and AML requirements. Harsha highlights the implications of these regulations on the Bitcoin ecosystem and the role of custodians. The discussion also touches on the evolving regulatory landscape, the impact of political administrations on crypto regulation, and the future of stablecoins. Harsha emphasizes the need for clarity in regulations and the importance of maintaining a balance between compliance and the freedom that Bitcoin offers. The conversation also highlights the challenges developers face in creating tools that respect user privacy while navigating regulatory landscapes. They conclude by exploring the potential future of Bitcoin upgrades and the importance of lobbying for less restrictive regulations to foster industry growth.Takeaways

The privacy Americans should enjoy over their financial information has been in steady decline for more than 50 years. Regulatory frameworks, such as the Bank Secrecy Act and the Securities and Exchange Commission's Consolidated Audit Trail, grant government access to Americans' financial transactions. As financial services have become increasingly digitized, the volume of financial records to which the government has easy—and often unfettered—access has grown exponentially. And proposals for a central bank digital currency, which involve the government becoming more intimately involved in Americans' use of money, have the potential to further erode the ability to transact without government surveillance.As policymakers are confronted with questions about evolving technologies, the question of financial privacy must not be shunted to the side. It is time to rethink financial privacy. Does financial convenience have to come at the cost of financial privacy? Does the Constitution provide the protections needed to limit government access to financial information? Can decentralization provide privacy-protecting solutions? Join us for an outstanding program featuring leading policymakers and experts discussing financial privacy at Cato's Center for Monetary and Financial Alternatives annual conference. Hosted on Acast. See acast.com/privacy for more information.

The privacy Americans should enjoy over their financial information has been in steady decline for more than 50 years. Regulatory frameworks, such as the Bank Secrecy Act and the Securities and Exchange Commission's Consolidated Audit Trail, grant government access to Americans' financial transactions. As financial services have become increasingly digitized, the volume of financial records to which the government has easy—and often unfettered—access has grown exponentially. And proposals for a central bank digital currency, which involve the government becoming more intimately involved in Americans' use of money, have the potential to further erode the ability to transact without government surveillance.As policymakers are confronted with questions about evolving technologies, the question of financial privacy must not be shunted to the side. It is time to rethink financial privacy. Does financial convenience have to come at the cost of financial privacy? Does the Constitution provide the protections needed to limit government access to financial information? Can decentralization provide privacy-protecting solutions? Join us for an outstanding program featuring leading policymakers and experts discussing financial privacy at Cato's Center for Monetary and Financial Alternatives annual conference. Hosted on Acast. See acast.com/privacy for more information.

The privacy Americans should enjoy over their financial information has been in steady decline for more than 50 years. Regulatory frameworks, such as the Bank Secrecy Act and the Securities and Exchange Commission's Consolidated Audit Trail, grant government access to Americans' financial transactions. As financial services have become increasingly digitized, the volume of financial records to which the government has easy—and often unfettered—access has grown exponentially. And proposals for a central bank digital currency, which involve the government becoming more intimately involved in Americans' use of money, have the potential to further erode the ability to transact without government surveillance.As policymakers are confronted with questions about evolving technologies, the question of financial privacy must not be shunted to the side. It is time to rethink financial privacy. Does financial convenience have to come at the cost of financial privacy? Does the Constitution provide the protections needed to limit government access to financial information? Can decentralization provide privacy-protecting solutions? Join us for an outstanding program featuring leading policymakers and experts discussing financial privacy at Cato's Center for Monetary and Financial Alternatives annual conference. Hosted on Acast. See acast.com/privacy for more information.

The privacy Americans should enjoy over their financial information has been in steady decline for more than 50 years. Regulatory frameworks, such as the Bank Secrecy Act and the Securities and Exchange Commission's Consolidated Audit Trail, grant government access to Americans' financial transactions. As financial services have become increasingly digitized, the volume of financial records to which the government has easy—and often unfettered—access has grown exponentially. And proposals for a central bank digital currency, which involve the government becoming more intimately involved in Americans' use of money, have the potential to further erode the ability to transact without government surveillance.As policymakers are confronted with questions about evolving technologies, the question of financial privacy must not be shunted to the side. It is time to rethink financial privacy. Does financial convenience have to come at the cost of financial privacy? Does the Constitution provide the protections needed to limit government access to financial information? Can decentralization provide privacy-protecting solutions? Join us for an outstanding program featuring leading policymakers and experts discussing financial privacy at Cato's Center for Monetary and Financial Alternatives annual conference. Hosted on Acast. See acast.com/privacy for more information.

Watch The X22 Report On Video No videos found Click On Picture To See Larger PictureMore and more banks are being investigated for money laundering, they said criminals only use bitcoin for money laundering. US economy grew because of gov spending and inflation. Fed cuts rates mortgage rates climb higher. As the economy implodes gold and bitcoin will skyrocket. The [DS] is trying everything they can to manipulate the election using ballots. The problem is that the people continue to catch them cheating, which is making hard for the [DS]. Dominion machines have been affected nationwide and might not produce the right results. The honeypot that Comey used on Trump has been exposed. The [DS] is panicking, its all falling apart on them.   (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:13499335648425062,size:[0, 0],id:"ld-7164-1323"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="//cdn2.customads.co/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs"); Economy BofA Warns "Enforcement Action" By Feds Possible Over Money Laundering, Zelle  A little more than two weeks after Toronto-Dominion Bank pleaded guilty to multiple criminal charges and paid $3 billion in fines and other penalties to the Department of Justice and financial regulators for failing to monitor money laundering operatio  the Corporation's Bank Secrecy Act/anti-money laundering and sanctions compliance programs (Programs), including transaction monitoring, training, governance, and customer due diligence."  "In cooperation with regulators, the Corporation has been, and plans to continue, implementing enhancements to these Programs. The Corporation is continuing discussions with its regulators about the Programs, and resolution of these discussions may include one or more public orders by the regulators," BofA continued. BofA is responding to an inquiry from the Consumer Financial Protection Bureau into electronic payments on the Zelle payment network. "The CFPB staff has initiated discussions with the Corporation to pursue a resolution of the inquiry or file an enforcement action. The Corporation is evaluating next steps, including litigation," the bank said. The filing did not mention specifics about potential AML issues. However, the TD Bank case, where the Canadian bank chose profits over AML compliance, allowed fentanyl and narcotics trafficking operations to use banking services. Source: zerohedge.com U.S. Economy Grew At 2.8% Pace In Third Quarter The U.S. economy expanded at a 2.8 percent annual pace in the third quarter, the Commerce Department said Wednesday. Consumer spending jumped  3.7 percent in the third quarter, the largest rise in six quarters. That was much higher than the three percent expected. Imports, which are a subtraction from GDP, soared in the third quarter. Imports of goods climbed 11.6 percent, partially reflecting U.S. importers pulling forward imports for fear that the port worker strike would be a lasting obstacle to bringing in foreign-made products. This dragged down GDP by nine-tenths of a percentage point. Government spending was a big source of economic growth in the quarter, adding nine-tenths of a percentage point to GDP growth. Source: breitbart.com https://twitter.com/KobeissiLetter/status/1851291535683318037  for $420,400 which means a mortgage payment with 20% down would be $2,343/month. Including taxes and insurance, homebuyers can now expect to spend over $3,000/month. In other words, homebuyers are now spending over 50% of their post-tax income on home payments. Truly mind-blowing numbers. https://twitter.com/KobeissiLetter/status/1851659293059141954    $3,000 monthly budget can now afford a $442,500 home, down from $475,750 on September 17th, the lowest since February 2023. A homebuyer with a $2,

A Hezbollah source told CNN Israel was targeting a senior official in the organization when it struck a residential building in central Beirut. TD Bank has pleaded guilty to charges that it violated the Bank Secrecy Act and permitted money laundering. At least 12 people in Florida are dead after Hurricane Milton roared through. Yesterday the Department of Agriculture announced its second listeria-related meat recall in months. Plus, this year's Nobel Prize in literature has been awarded to a South Korean author.  Learn more about your ad choices. Visit podcastchoices.com/adchoices