They’ve got legal obligations, including Know Your Customer and money laundering prevention that started around 10k when I was in school but idk what it is now. Structuring a transaction so as to avoid reporting requirements often does not stand up to scrutiny so it’s not worth the risk. There’s a kid I went to high school with who’s doing 25 for first structuring his business to avoid reporting laws and then using the advantages of not reporting to defraud the government to the tune of 8 digits. Ask him how that is going if you need convincing.
They’ve got legal obligations, including Know Your Customer and money laundering prevention that started around 10k when I was in school but idk what it is now. Structuring a transaction so as to avoid reporting requirements often does not stand up to scrutiny so it’s not worth the risk. There’s a kid I went to high school with who’s doing 25 for first structuring his business to avoid reporting laws and then using the advantages of not reporting to defraud the government to the tune of 8 digits. Ask him how that is going if you need convincing.