Philipp, this is excellent. It’s well written and clear. As you say, the real issues are international — not everyone lives in Liechtenstein! For example, AML laws (which absolutely don’t work) and e-money laws require that the service provider watch all transactions in the network for “suspicious behavior” and report it to FATF, which counteracts any privacy and places a burden on these service providers to watch and report. You didn’t mention that. Interfacing with other nations and their different laws will be the sticking point here.

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