Thursday mailbag: Financial Frankensteins?

Key Points

1. Roman Storm criticized the DOJ's partial verdict against him, arguing that money transmitter laws don't apply to non-custodial services like Tornado Cash.

2. Banks spend over $200 billion annually on financial crime compliance, incentivizing them to avoid risky clients, including crypto companies.

3. DAOs, described as 'golems,' could operate autonomously without human oversight, raising legal and ethical questions about accountability.

4. Google reported that hackers target crypto and cloud-based systems due to the concentration of data and money, with crypto being particularly vulnerable.

5. Peter Conti-Brown defends banks' right to choose clients, framing 'debanking' as a free market decision rather than discrimination.