OneReason why banks “fight against crypto” — Transparency — Court refuses to drop $5B Money Laundering charge vs UBS

Source: https://news.bitcoin.com/court-money-laundering-ubs/

A French Court refuse to drop a $5.8Billion money laundering charge against UBS (one of Europe’s largest banks)..

UBS, HSBC etc....pick your bank..have been accused of wrong doing many times. Laundering money, mortgage scams and much more.

In the past, they pay the fee/fine which is usually less than 10% of the alleged crime committed.

One reason (beside power and control) they hate crypto / black chain is “visibility and transparency” of transactions.

We have no idea of the amount of fraud, collusion and more has cost our countries. The more transparency, the better.

For UBS....they will have a history.

In this case maybe some people will go to jail. This is not an accident in terms of what they have done.

They will have their day in court.

This is what is “blamed on bitcoin” all the time — funny how that is.