$BTC I just watched this one, folks, and it’s really laughable and heartbreaking at the same time. Swiss bank UBS was fined $125 million by regulators for “lax anti-money-laundering controls.” And this wasn’t even the first time—U.S. regulators had warned it about this before. Sigh, just look at the games in the international finance world—getting hit with a fine for wrongdoing can drain so much real money you’re basically done. Us folks who do tech and monitor the market can see even century-old institutions only make it through thanks to regulatory orders. Honestly, this world is harder to deal with than the exchange. If you ask me, the compliance costs for big financial institutions must be astronomical—who can possibly carry that? (Source: ft)
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