Coinbase CEO: Anti-money laundering policies are failing

Coinbase CEO Brian Armstrong stated on the X platform that anti-money laundering (AML) regulations are a failed policy, costing about $213 billion each year and harming the interests of legitimate consumers (as seen in multiple de-banking events), and according to United Nations data, this only prevents about 0.2% of illegal activities. This sounds like a job for the Department of Government Efficiency (DOGE).