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Fix Banking: for companies and individuals

eu/acc

EU has a lot of regulation, that Banks have to follow, a lot of it with goal to stop terrorism and money laundering. But real world experience is that it stops innovation and enables debanking. There must be possibility to have better balance between innovation and individual freedoms vs criminal activity stopping.

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  • Amaranth Clock

    •

    Dec 15, 2024

    Estonia made e-residency, so you can establish companies in Estonia (thus also in EU) online without being EU nor Estonian citizen. While issue has improved, one of the issues is that companies can't get a bank account or their accounts are closed, due to Banks seeing they have too large risk under EU legislation to open accounts for non Estonian residents (could understand outside of EU more, but even for other countries in EU)

    https://learn.e-resident.gov.ee/hc/en-us/articles/360000700918-Banking-basics