Well the issue with the process is that over time it became more and more
regulated. Dodd/Frank added layer on layer to it. Crypto will be interesting as a funds can't be seized as part of enforcement. It also takes away US Trade flow dollars, which (our bank) banks move for the Fed daily...causing them to be "too big to fail".... We can move money much faster than most banks and prefer not to use the old wire system. SWIFT, more tech based (eg. WorldLink from Citi or a Venmo even), etc are more efficient ways to move money.
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In response to this post by MrBayAreaHokie)
Posted: 06/04/2021 at 11:37AM