> who they suspect of selling bitcoin for cash, potentially running afoul of money laundering laws and rules around unlicensed money transmitting.
Wait, what? So is Bitcoin illegal to use as a currency now? Special casing exchanges for cash seems completely pointless if you could just buy some of <any commodity> for cash and then turn around and sell it back to the same person for the same amount in Bitcoin, but if every customer has to do KYC of the merchant when they're paying with Bitcoin, how is that ever going to be feasible?
I think a charitable interpretation is that they were suspicious of the money being used illegally. But I'm not sure there's enough information here to make this clear. Because clearly there's misinformation being spread. Claiming bitcoin is anonymous...
Wait, what? So is Bitcoin illegal to use as a currency now? Special casing exchanges for cash seems completely pointless if you could just buy some of <any commodity> for cash and then turn around and sell it back to the same person for the same amount in Bitcoin, but if every customer has to do KYC of the merchant when they're paying with Bitcoin, how is that ever going to be feasible?