• Pat Flood (@rebarcock) passed away 9/21/25. Pat played a huge role in encouraging the devolopmemt of this site and donated the very first dollar to get it started. Check the thread at the top of the board for the obituary and please feel free to pay your respects there. I am going to get all the content from that thread over to his family so they can see how many people really cared for Pat outside of what they ever knew. Pat loved to tell stories and always wanted everyone else to tell stories. I think a great way we can honor Pat is to tell a story in his thread (also pinned at the top of the board).

BAD news for crypto: SWIFT will no longer process transactions less than $100k to crypto currency exchanges

Nearly impossible for SWIFT to enforce.

They primarily operate off the 8 / 11 digit SWIFT code. If big banks are banking these clients - and they are starting too - they’re going to piss off their key bank members when they are massively under threat from hundreds of other disrupters.

To enforce such a measure, they’d have to start having filter against beneficiary account names(field 59) and will create massive administrative/ operational work.

No way they follow through if this is accurate.
 
Nearly impossible for SWIFT to enforce.

They primarily operate off the 8 / 11 digit SWIFT code. If big banks are banking these clients - and they are starting too - they’re going to piss off their key bank members when they are massively under threat from hundreds of other disrupters.

To enforce such a measure, they’d have to start having filter against beneficiary account names(field 59) and will create massive administrative/ operational work.

No way they follow through if this is accurate.
^this guy SWIFTS

thanks for the feedback. Turns out the claim was bunk
 
If I understand it correctly it prevents poor people from buying crypto?

It's coming in the wake of that Davos meeting. I'm guessing they're all going to buy into the new fedcoin or whatever crypto is going to be used in the new financial system. They will get deeply entrenched as super-wealthy in the new currency and buy it up at dirt cheap launch prices before it rises in value and they let the poors in.

I hate them so much.
 
If I understand it correctly it prevents poor people from buying crypto?

It's coming in the wake of that Davos meeting. I'm guessing they're all going to buy into the new fedcoin or whatever crypto is going to be used in the new financial system. They will get deeply entrenched as super-wealthy in the new currency and buy it up at dirt cheap launch prices before it rises in value and they let the poors in.

I hate them so much.
That’s essentially what it would have meant, but it’s not the case. I think one bank had an issue with binance, someone screencapped an error message, and some random website published an article infinitely over exaggerating what was going on
 
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