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KYC is the reason we have an archaic banking system while the rest of the world leap frogs us.

Tough to solve when petrodollars are still the reserve currency globally.

Do tell us which countries have no KYC regulations and are leapfrogging the rest?

Every country I’ve lived in across continents has KYC & AML. Not that it solves corruption, but it’s the bare minimum for functioning societies.