Bitcoin Forum

Hi guys ! My name’s Dave.
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(https://supersportskick.com/)Is it possible to do money laundering via bitcoin? I mean as no one knows if you have bitcoin and how much bitcoin do you actually own, it could be used to convert black money to white right? Or at least store your black money without much hassle. But there is the risk of its value but I think for people who have lots of black money and don't want to be caught, this risk might be worth taking for them isn't it?
What are your thoughts?

This has been discussed quite often... I'm not saying laundering money with crypto currencies does not exist, however, i've not yet seen any proof that this happens on a large scale. It's just to complicated and the risk of getting caught is just to high... I'm pretty sure most money launderers use small businesses to launder their money instead of crypto currencies.

In order to launder your money, you would have to buy BTC using your "dirty" money. In order to exchange FIAT to BTC, you'd have to use a centralised exchange (requiring KYC) or you'd have to resort to small deals P2P, OTC, ATM,... It would take a long time to convert large chunks of FIAT into BTC and you'd have to be careful of Law enforcement stings, camera's, fake KYC documents,...
If you use fake documents, you risk getting flagged and losing your funds... If the exchange is contacted by LE because of suspicious FIAT deposit you could lose your funds, if you're caught on camera doing a P2P or ATM desposit you could end up with your face on a wanted poster,...

Once you'd have the BTC in your posession, you'd have to use a string of mixers, coinjoin's, non-KYC exchanges to ALT's,... in order to break the link between the BTC bought with dirty FIAT and the BTC you want to exchange back to FIAT.
Using a string of such methods has a cost... Each mixer has a fee, each exchange has a fee, coinjoins are not free,...

The process of "clean" BTC to FIAT is also cumbersome and bound to KYC, having to enter your address and phone number, camera's, stings,...

So, once again: i'm sure that somebody already tried laundering money with crypto currency's... I just don't think it's a mayor problem since it's difficult, takes a long time, isn't cost-effective if you compare it to laundering your money trough small businesses using FIAT

Black money will be of huge volume funds. When someone tries to launder money or make the black money into bitcoin, the banking requirement is there. This means for large volume buying of bitcoin large volume of fund transfer through the bank is the only possible way, because in recent days the direct person to person trade in exchange for fiat is taken away by the traders.

Laundering money is easy in my country. And bitcoin is familiar with this activity. It is great to use this service if you want to avoid being traced by anyone. Deleting your footprint on the internet make your free from various types of troubles.

I dont know what the situation in your country is. Laundering money is indeed illegal but it is less serious in my country. I dont know why. However, Im not interesting in with it. Most of the time, I use p2p wire bank exchange to convert bitcoin into fiat

Money laundering is a big threat to the bitcoin ecosystem as such kind of activities are usually tracked by the regulatory agencies through the blockchain analytics companies like Chainanalysis and appropriate actions are taken. So I would suggest you not to use bitcoin for such activities. It also brings down the reputation of bitcoin among the commoners!

There are many anonymous coins available like Monero which you can definitely use because cryptocurrency provides you with such freedom. But it will be best if you don't bring such non-sense to this forum and please don't look around for help! Adios!

it is possible only if you can avoid doing kyc i.e not register in any centralized exchange, because as you know, centralize exchange requires identity verification and being a money launder you wouldn't want your identity to be exposed,
and why are you asking this question if i may ask! i don't suppose you are thinking towards that line of business, thats a dangerous idea to want to get involve in.

It is difficult to do that with bitcoin, many exchanges ask you to KYC if you want to make a large amount of withdrawal, but actually bitcoin is only a tool used to launder money, can't gold and others be used as a money launderer, this question every so often and it's boring

Simple answer: yes. Do you maybe wanna do it? Then perhaps the answer is no.

While one can always do money laundering and illegal stuff using bitcoin in today's time, it's still hard to bypass security checks and other important documents that exchanges impose within their platforms. Also, add to that the growing number of chainalysis firms seeking to aid legal departments on nabbing money launderers, now you have a hard time doing these things.

Perhaps if you're only a small-time peddler of laundered money you can do this stuff alone. But if you're one on the higher order of crooks, money laundering through cash is still your safest bet compared to bitcoin.

I think this question is very irrelevant to ask, because there will always be positive and negative sides when we are going to do anything, including business finance (everyone has seen this) and including yourself.

What benefits can you do when asking about money laundering, there have been many optimizations that can be prevented from being able to try money laundering. As we know, KYC is one way.

Without KYC in the local exchange we will not be able to withdraw the amount we want because it has become the rule, of course this is one of the ways to prevent money laundering from happening.

Yes it is possible with crypto but if the amount is huge there will be KYC as most of the exchange have made KYC mandatory so any huge mony laundering activity will send a trigger to the bank, I believe money laundering has been taking place even before emergence of Bitcoin and Bitcoin, other cryptos have been potrayed in negative lights as if it's the only channel for money laundering.

I think we should move on from this topic which has been discussed over hunder times here

I'm confused.Why are you asking?Do you want to launder your money via Bitcoin?
I think that privacy coins like Monero are better for money laundering,because the Monero blockchain has a built in mixer,while with Bitcoin,you will have to use a third party BTC mixer.
Nevertheless,I do not condone money laundering and I don't recommend you to do any kind of illegal activities online.
A large portion of money laundering is mostly done via the banking system,but only the big players can do it.

at this time very few people laundered money through BTC. now it is very complicated to do money laundering on BTC, every transaction or when creating an account on a market requires KYC. I see BTC's defense and security are getting better so that they can avoid criminals.

it is possible that money laundering can occur in bitcoin,
if the exchange they use does not have a KYC system for withdrawals then it can be done,
but there are some coins that are completely anonymous and difficult to track, that its Monero

I think money loundry can actually happen with Bitcoin. it's just that I've never heard of what happened. But if we are not alert, it could happen to us. Therefore, we should properly protect the cryptocurrencies assets that we have now.

Disclaimer: By this post, I do not condone illegal activity in any way.

It is a possible if you wanted me to answer shortly, but it's quite risky. As the ledger is fully public and transparent, little leaks make for big mistakes.

Let's not forget that Bitcoin is a digital thing. With that being said, knowing how many softwares, operating systems, devices etc have backdoors in them ready for intel agencies to join your company and find out what's going on with your stuff, laundering money via BTC is a pretty bad choice imo.

Just imagine being able to launder money 5 years straight and, all of a sudden, you somehow connect to your wallet without Tor - or someone's carefully watching your exit nodes. A little leak makes for your identification. Yes - you could user mixers, whirlpools, coinjoins etc as a way to partially break your coins' history, but that requires maximum attention and perfect handling of your coins, devices and fingerprints.

Using Bitcoin the "anonymous" way is quite hard. Mixers and other similar methods are fine imo, as long as you aren't committing any crimes you may be held accountable for. But when it comes to crimes, if an agency suspects you, they will spend any amount of resources if they think you're worth the costs & time. For when someone wants to hide their identity easier and without that much of a hassle, a better option is Monero.

Now for the higher sums of ML, I've never studied how easy it is for an agency to penetrate your digital/electronical stuff as long as you're suspected, but the first thought I'm having is about closed-source hardware. Even if we swap Windows for a FOSS system, closed-source software for open-sourced and so on, we get to the final and main point which is quite hard to combat: the device you're using. Even Respects-Your-Freedom certified devices aren't 100% open-source, because some of the most important components for a PC to work (such as CPUs and GPUs) aren't open-source, at least not comercially.

Privacy and anonymity is more of a dream than a reality these days, unfortunately. We can and should do a lot of things to improve them both in our daily lives, but at the end of the day we have little "bombs" sitting everywhere around us waiting for the trigger to be pushed.

If you taint the orange beauty with the filthy fiat currency cash there's no money laundering in the world that can save you from any curse that might strike you. Once you have dirtied your bitcoins there's no going back.
Sarcasm aside, I guess you are trying some easy ways to go to jail. GL.

Like currency, bitcoin is a currency that can be used both legally and in other illegal crimes. However, when compared to fiat, I think the incidence of illegal cases in bitcoin such as money laundering is lower. Fiat has long been used in illegal activities and is much larger in scale than bitcoin. You can still do money laundering with bitcoin but I dare not say this will never be discovered because I think the government is on standby to prevent criminal acts involving bitcoin such as cooperating with exchanges. KYC is one that might be a barrier for cyber criminal who want to clean up their illicit money.

There's no way you can convert huge black money to white using Bitcoin that the centralized services won't be involved with make money laundering using fiat to crypto to be dangerous cause Bitcoin blockchain record ledger is a permanent and public record. Although, Bitcoin tumbler service maybe use to stay hidden but sooner or later a centralized service will still be used at some point and that's how Kucoin hacker was nab  However, statistics show that 97% of all dirty money is laundering via the Banking system.

Bitcoin has a very transparent ledger called blockchain where all transactions can be easily tracked, but some people are still making use of tumblers such as mixers and coinjoin, but this are only used for privacy purposes, bitcoin can even possibly be easily tracked during investications than fiat money, I will advice you not to use bitcoin for money laundering. But if privacy is your concern, you can make use of bitcoin mixers or making use of wallets like wasabi wallet that can conjoin transactions.

If we are talking about regulatory authorities that are fighting the laundering of money obtained by criminal means using Bitcoin, they are primarily concerned about the moment that they have no influence on the funds that are on inaccessible wallets. It is much easier for them to block bank accounts in any country, because certain procedures are provided for this, but cryptocurrency accounts are generally not available for governments and certain structures. One way or another, no one denies the possibility of using cryptocurrency for unfair purposes, but this does not justify the desire of governments and the SEC to control everything.

With anonymity features of bitcoin then you can really tell that money laundering is most likely and if you do try to look at on whats the common stance of government
towards it then you can say that it is indeed possible on doing such thing.This is one of the most common reason on why government are likely to oppose or does have
negative views or insights towards bitcoin or crypto as a whole due to this possibility.They cant trace up transactions that do involves laundering due to decnetralization and
anonymity but doesnt mean that we shouldnt care that much as a crypto supporter.Right?

It is possible to do money laundering via Bitcoin, but there is no assurance whether you won't be traced.  Bitcoin has a transparent blockchain so it has high traceability.  But many solve that with mixers.  But still whether laundering can be done through BTC or not, we should not encourage anyone to do that because it is a bad thing and also, will give a bad image on the cryptocurrency industry.

The point of money laundering is to make it like your dirty money come from a legitimate source. With Bitcoin, this is hard to do because of the public nature of its blockchain. Mixing would actually work against you, because it would be clear that the coins came from a mixer, which make it more suspicious. Bitcoin isn't really a method for money laundering itself, like some haters claim, you need to apply the actual money laundering methods to it, and blockchain will work against you, because it's so easy to check the records.

It could happen of course but it depends, from a practical point of view a single individual trying to hide his wealth from the government or any other institution could do it as long as his wealth was kind of low, however if we are talking about very wealthy individuals or even criminal organizations this is not really practical for them, most likely what they will do is to bribe local banks to help them in their money laundering operations.

This process is a lot more simpler than what they will have to try to do to launder that money with bitcoin, as they will save themselves the fees, the costs of converting their money to bitcoin or any other cryptocurrency and then back to fiat and the trail that they will leave will be more difficult to follow than what you can do in bitcoin, so all in all for criminal organizations it doesn't seem to be any advantage to try to use bitcoin for their operations and most likely this is why it's not happening right now.

But wouldn't there be KYC with almost all the major exchange? I don't think it's that easy now to indulge into money laundering through Bitcoin. Yes, Bitcoin has been used by criminals as a mode of payment as we have seen in case of kidnapping or hacking and at the same time these money laundering is not limited to bitcoin as user will find some other way to get the job done but these money laundering and ther illegal extortion has brough a bad name to crypto.

binance is the best, they required 2 BTC withdrawing without KYC. but the problem is how to deposit fiat.

It's possible and I can assume that money laundering using bitcoin happened before. There are many ways to launder money and using bitcoin or somehow altcoins such as privacy coins will make it possible. Also using a mixer is one of the choices. In exchanging the illegal money to cryptocurrency there are also ways of dealing with it like doing P2P transactions in person or hire someone for the job to do the P2P transactions.

The increased value of bitcoin ease the process of money laundering. Right now more volume of funds get transacted through bitcoin than other days. Right now if we make a transaction it is possible to transact a huge volume compared to the days of bearish market.

Whats the reason for Money laundering ?
                      People doesn't wish to pay taxes to the government. To avoid tax, the excess earnings in fiat will be converted to bitcoin and kept hold. If required can be transacted directly to different locations as well as can be cashed out on requirment.

I've watched a documentary that bitcoin is use in black market to buy gold which is a way to launder money. It can easily be done through Cryptocurrency since it has all the features to remain anonymous and perform easy transaction. Another way bitcoin can be used is through exchanges that does not require KYC. Im not saying that bitcoin is made for laundering money, but this could be tge best option of those who has dirty money.

yes some people use bitcoin for money laundering because after entering the blockchains all transactions will become anonymous so they cannot be tracked
This is the reason some countries do not accept bitcoin as a means of payment because legally bitcoin will make it easier for many people to do money laundering and embezzlement.

My thought is?that you already know the answer and you just wan't to have a conversation here for the reason that i don't know.

You clearly point each thing that explains how is it possible but still asking for answer.

Laundering can happen not only in Bitcoin as many ways to make this happen but yeah it is much safety using Bitcoin same reason

Here is some example


And here is the thread
https://bitcointalk.org/index.php?topic=5289572.0

Before using Bitcoin in money laundering, they've used banks and people to launder money. The evolution of the technology makes their tactics evolve so they could easily make a dirty money in a clean money without being trace by the Government or authorities.

In order money laundering to be a success, they use this called "layering that transfers the money in smaller amounts to many account, buying properties, while in Bitcoin, I bet they use many Bitcoin addresses as much as possible and buy other promising cryptocurrency to be untraceable as much as possible as well.

I think these topic is quite interesting, from the aspect of things I hope its possible to use bitcoin as a means of money laundering because it's a decentralized platform that happened no one can have access to control or monitor over except the owner, so having buying excessive bitcoin and store in wallet for over three years or long period of time with project or countries money is another means money laundering and no body can  know about it except your bank, and it can easily be converted as a fiat currency through blockchains, so therefore I accept the point that bitcoin can be use as inform of money laundering.

It is entirely possible and it is long standing adversary of bitcoin that prevents it from leaving a sour taste in the mouths of public. The key problem with bitcoin as a medium for money laundering is that most blood money is in fiat form which means that you need to convert it to electronic which could raise suspicions. P2P is the best way to make money laundering via BTC work, this comes with a problem as law enforcements also knows this modus operandi which means you could be trading with a decoy and the trade was a money laundering sting.

It is happening already. And with the aid of bitcoin mixers, I guess the life of money launderers becomes easier. I believe it is how they strategize on how to get it back to fiat money. There are many exchanges that don't require KYC below 1-3btc withdrawals per day. So daily withdrawal is very possible without passing KYC docs. However, if they need to use local exchanges in converting their crypto to fiat, most of them require some KYC docs. However, if the crypto is already cleaned, this is very possible already.

Ok since it has made obvious that people do money laundering in respect of bitcoin, is it a crime?
Since it has made clearly that after purchasing bitcoin it will still be converted to fiat currency, so how can we detect that the objective of individual to buy btc is because of embezzlement of fund's, I think a robots suppose to be implement or create for monitoring the rate of bitcoin or amount of btc in someone's wallet in order to identify money laundered.

Yes , you can use crypto currency but it doesn't mean you are immunr in tracing by the government or bank if they think the bitcoin here is used for money laundering they will do their part to trace it .

One of the example of caught launderers

https://cointelegraph.com/news/australian-woman-arrested-in-cash-for-bitcoin-money-laundering-sting

https://www.coindesk.com/new-zealand-man-charged-with-money-laundering-via-crypto-and-luxury-cars


Once you hide to bitcoin or other crypto currency it doesn't mean you will never be trace .

I think it can only be possible in places where the government doesn’t have their eyes on what’s happening, but as long as they have their eyes on everything you can get caught with whatever you’re trying to do. Bitcoin is not really as anonymous as some people make it seem, if you commit crimes with it there is still the possibility of getting caught.

I even saw a post by SWIFT where they said that people who are into money laundering prefers to make use of cash and not even Bitcoin. Anyway, I am not in support of all that, people who commit crimes should be punished for it.

Money laundering has been in existence for long before the emergence of BTC through FIAT and those who are into it knows how to find their way in achieving their aim. BTC is also a currency and it will be possible if not minding the cost and fatigue.

Laundering means to transfer illegally obtained money or investments through an outside party to conceal the true source. Money laundering means sending illegal or stolen money to a foreign bank to hide the fact that the money was illegally obtained.
Billions of dollars have been laundered through cryptocurrency exchanges. Bitcoin business is one of them. Money laundering is a major problem for the world economy. According to a report up to $2.8 billion has been laundered on exchanges using bitcoin.
Placement, Layering, Integration are the stages of bitcoin money laundering. But bitcoin laundering is a practical and cost-effective option for cyber criminals. Money laundering via bitcoin is not a good idea. Laundering via bitcoin leaves a permanent trail. The mission of money laundering is to create a chain of transactions that can’t be traced, so since the bitcoin blockchain is designed to have an indelible public record of all transactions. It's difficult to launder money via bitcoin.
So, it can be said that money laundering via bitcoin is not easy at all.

Money laundering is the illegal process of concealing the origins of money obtained illegally by passing it through a complex sequence of banking transfers or commercial transactions. Nowadays people are converted from black money to white by bitcoin. Our government rejected bitcoin and add a money laundering case for bitcoin users and the bank added a strong rule for buy-sell bitcoin.  There are 2 part to of everything so if you use it positively it brings useful things. If you use bitcoin for black money to white it can be negative for you because a lot of mafias or criminal use bitcoin for hiding their black money 

Money launderer will consider using small business to launder money rather than using crypto which might be complicated in the sense that it might take time and even risk of getting your coin seized in case you end up using fake identification which is required when you are purchasing high volume of bitcoin with fiat on centralized exchanges. Many launderers in my countries are politicians that steal public funds and most time it is through businesses they get dirty job done

Its been quite this discussion has been here for how many times. But my answer remained the same, yes it could be, but there is a higher chance that you will be able to trace. We had many services that studies on blockchain transaction and they can able to investigate your transaction where did transfer the fund. However, money laundering has not existed only on bitcoin even though fiat using an electronic device they can laundering money. Sooner or later you cant be able to launder money on bitcoin because most exchange required KYC.

Peoples involve in Money Laundering can face some serious problems during using this service as they have to do some serious stuff for this for big amounts pass KYC use centralized exchanges and buy/selling bitcoins or altcoins so its really risky process instead of this they used some other big businesses and stuff for this all which are much easier and have no risk like this even money laundering is possible but not as peoples can do with fiat as its really easy to do.

It's easier to do money laundering using cash money, because money laundering with digital money is actually easier to track.
But money laundering using Bitcoin is very possible, we only need to find a way to buy Bitcoin without KYC procedures.
So avoid using centralized exchanges if you want to do money laundering.

Money laundering has sprung around already even before using fiat and this sentiment couldn't make BTC escape from this. And this digital transformation, keeping every holder become anonymous it helps this kind of activity increasing since they will be hard to trace and totally not.

But if you are planning to have this, I suggest not to continue it otherwise, you will compromising yourself because sooner or later, you can still be caught by the authorities. Instead of thinking that way, much better to help against money laundering and this could save our community.

If you'd take a trip to the dark web you'd find answers to some of your pints there, there are different mediums to which one can pay  for a service you'd want to offer there, Bitcoin isn't excluded from the payments mediums. Like others have rightly said Bitcoin is a currency that can be used by anyone so there is no point to defend whether or not it can be used for money laundering. It definitely can be used, but there are high probability that the parties involved in the  deals can caught by law enforcement agencies due to regulations of centralised exchanges demanding for KYC and other person details of traders and users.

You can evade this by using Bitcoin mixer  and some other private exchanges but you're definitely need a reputable exchange that can offer enough liquidity to trap your coins to white money. I'm not agitating for a crime, it is a systematic way of how beautifully Bitcoin is used in solving pressing issues.

Money laundering with bitcoin is just a tired and worn out way some people try to put down bitcoin or make it look bad. The truth is you can launder anything that has value. It really doesn't matter what it is becuase the point is to move dirty money into assets or other money but I believe assets are the better bet because the profits it makes will be clean money.



Really? What country are you from? that's interesting.

Most countries put a ban on money laundry and that is serious law for anybody found on it. However, whether it is fiat or bitcoin is risky because a law on that is going to take offenders to regret. Is better staying of with them and do legit business

It's no surprise that bitciin is being ised for these kinds of erratic activities. Even in the days of ye old dark web this is what bitcoin is primarily used for. To cover up tracks of payment transactions. Nonetheless you gotta take the good with the bad, and seeing how bitcoin offered more benefits than the downsides, it's fine keeping it around.

A money laundered usually don't use exchange for laundering. FYI it's easier to track Fiat compared to BTC because there is bitcoin mixer, decentralized exchange and P2P exchange available. There is so many various ways to do that. In Fiat, you can't hide it because the moment you withdraw it from the bank, they know how much money you are holding.

Money laundering is something that in my country if they do it they cannot clearly determine, because the government leaders themselves do it, they mostly look for legal bank accounts that handle large amounts in local currency, this is something that at the same time The government does not like it, because they want all the business for themselves, that is why the local currency is very very low and every day it continues to fall against the dollar, the largest transactions are made with exchanges of local currency to dollar, so If you have Bitcoin and you want to take it to FIAT it is a long process but somewhat more secure.

It’s possible for people to commit money laundering using Bitcoin, but based on my research long ago, the percentage of such thing happening is around 0.5% and it’s way too less compared to cash, which means that criminals or people who commits such a crime makes use of mostly cash to carry out their operation and Bitcoin is mostly not an option for them.

The reason why they don’t consider Bitcoin is because the Blockchain technology leaves every transaction public, which also makes it manageable, and they can be traced with it. They still have methods that they use at times to launder money though, but I still think if the government is serious in tracing them, they will still do.

I think it depends on the country you are living in. If it doesn't have strict crypto policies then money laundering is easy to do. Usually, they don't make huge transfers instead they have a network and a whole plan worked out to launder money.

It doesn't matter how  and in what form you keep your black money in (digital or fiat). Once you decide you spend them, you will always be caught by law enforcing agencies if your expenditure is more than your declared income.

It is more complicated than you think. Sure you can launder as much as you want by converting to bitcoin, but once you convert it to bitcoin, it is going to be way hard for you to convert back to fiat. Even getting huge some of BTC is going to be a challenge for you since you will have to p2p trades and no one would want to sell huge amount of coins in one go and that in cash money!
So when you convert it to fiat again, you will raise flags. As far as I know, if you make deposit above certain amount, the banks will raise a flag and inform the IRS as per law. So you might already be under surveillance. Don't even think about making smurf deposits.

the development of models and accessibilities in the cyber world, making various transaction transaction phenomena appear in it, one of which is the phenomenon that has become a hot topic of this implementation is the emergence of bitcoin, for now it is very difficult to launder money with bitcoin because most exchanges require kyc ..

Sure and certain money laundering can be done with bitcoin, since it's a decentralized currency it hides identity, no matter the transaction being made you can never be traced, and this is more reason the government sees bitcoin as a threat, there believe bitcoin can be used for many illegal activities most especially money laundering, I got to find out  most fraudsters uses bitcoin to receive huge funds because if there uses thier bank accounts their account might get blocked and some investigations will be carried out, so this guys uses bitcoin to recieve huge funds and later start selling it for fiat bit by bit.

First, as a Hero member- you should at least know the common forum rules that grave digging shouldnt really be done because this is simply necroposting and if you dont like to face up some future
problems then better stop on doing these behavior.

back on topic about money laundering via Btc then its non surprising thing due to anonymity and being decentralized of this coin and come to think that laundering do even happen
with fiat.How much more with btc and other altcoins in the market which are really anonymous?

Lets make this straight, is it even possible to launder money using bitcoin, if you find someone who is willing to sell you huge amount of coins and you risk that the anonymous person you meet will not mug you. If you are looking to purchase from miners then it is impossible to hide the transaction as the mining farms will get into trouble for transacting with huge amount of cash, in short it is not that easy as you think to launder money using bitcoin and fiat is much easier as it does not having a transaction trail in blockchain.

Money laundering possible and it’s happened in my country  when some of the black money smugglers were caught by the police i heard by tv news.

The governments of many countries did not legal it just to avoid these incidents. Btw there are large transaction have to through many legal steps that might be risky.

Yes, It is possible to do money laundering by Bitcoin. Because bitcoin is a decentralized Crypto currency. Also no one have that power to trace it transaction. For this reason criminal or bad people use bitcoin for laundering their money from one county to another easily.

Many countries are actually worried about this, because the corruptors will be able to erase their tracks when corrupt money is converted into bitcoin. and many things that harm the country can happen and can be done this way. However, the state can protect it with strict regulations to anyone who wants to buy and sell bitcoin to fiat or vice versa, it must go through institutions that have been approved by the government such as banks. where everyone who wants to join a government legal institution must have a local bank and if the transaction is large, it must be KYC first.
 
now it remains an institution that is not allowed to commit violations, otherwise it will still happen even though there may have been prior protection.

Bitcoin is a decentralized Crypto currency, anonymously not controlled by anyone. This makes crimes love. Criminals take advantage of money laundering, smuggling from Bitcoin is what happens a lot.

So what if some financial institutions use cryptocurrencies to launder money . They will get a fine and then its over. Always goes that way, we seen it many times before in banking system. Nothing happens. Its buy the dip ;) always is,

Indeed, bitcoin transactions only require us through online wallet addresses, which allows criminals who may be at great distances to exchange goods with each other, even money laundering by buying bitcoin then converting it into cash, from there their money becomes legal for use in a certain sense. But this method is probably rarely used as well because it requires trust from criminals, most of the time I feel that criminals love face-to-face transactions, instead of technology like bitcoin

It also happening with every fiat or any digital based money, it's just the image that's been trying to picture by those who are not believing or
those who are against to this system, decentralized if you are dealing with p2p but if you need to convert you still need to provide KYC mostly
in order to cash it out with your regular fiat currency. Criminals can use anything as long as they are capable to transact, and bitcoin/crypto is
not exempted.

There is possible chance of making black money white using bitcoin, but this is highly limited. What the politicians and businessmen of different countries accumulate is a huge volume. Most of the buying and selling of bitcoin for cash is connected with banking. This way beyond certain volume of fund will surely get into questioning.

Money laundering is one of those issues that have been thrown against Bitcoin at the first years of its establishment and rise in popularity, various groups and even the government are questioning the credibility of Bitcoin and the potential of being responsible for the threat of wide existence of money laundering being imposed by those certain groups transacting black money into the system. There might be a chance that there are cases wherein Bitcoin will be involve in such activity but Bitcoin is just being used by those as a platform and the blame must not be put into Bitcoin itself. But surely most people who do money laundering would prefer such activity of doing it with fiat for they might be thinking that the unfamiliarity with it might get them to be caught. But if it is possible with Bitcoin, yes it is.

The government wants to be in control of the money and they also want to stop anything that might undermine their own currency. They want the ability to tax and seize at will. Crypto makes this difficult which is why I see them trying to stop it in the future.

Let talk reality: Money laundering via Bitcoin doesn't come easy becasue it involves many task and convery up messes to avoid be caught by by the government. It's very difficult for a single individual to launder money via bitcoin than using some sort of business to launder money, i will recommend you use business for that purpose than just doing it individually as you risk be caught if not deal P2P. P2P can't launder huge sum of money without be caught in some exchanges.

Theres no doubt that every elements that's used as currency can be use for illicit activity but the government and various group who throw shade on Bitcoin been used to execute the black money transaction are just trying to make an unfair accusation about Bitcoin because before the existence of Bitcoin fiat have been used for illicit transaction and the research done by ex-CIA director (https://bitcointalk.org/index.php?topic=5330418.msg56775891#msg56775891) prove fiat to be the most used currency for illicit transactions.

In theory Bitcoin can indeed be used for money laundering, but because Bitcoin is easy to track, for me there is a greater risk of being caught.
Therefore doing money laundering with Bitcoin is more risky than using other assets, criminals should rethink if they want to launder money
with Bitcoin. There have been many articles that have also reviewed this issue, and money laundering with Bitcoin is rare. But because
the government often reports that Bitcoin is widely used for money laundering, hence the thinking of many people Bitcoin is very good
for money laundering. Even though the reality is that it is not that easy to laundering money with Bitcoin.

Yes, it is possible to do money laundering in Bitcoin because Bitcoin itself is because Bitcoin is a digital coin and if there are tax people they may not see the results of corruption because Bitcoin has no physical form

Money laundering is possible to achieve using bitcoin or other crypto coins. Usage of non custodial wallets, coin mixing services and other techniques helps with privacy and this in turn is beneficial to people who intend to use Bitcoin for such  a venture. I need to mention that there have been several cases of money laundering aside from the few ones we see in the media. Dealers can make use of p2p services to wrap up deals like that thanks to Bitcoin . That is why I said it is very much possible. It's easy too since anybody can send anybody funds without knowing the origin.

it is very annoying how they play dirty to kill crypto coins so that they are not used by many people, even though using crypto coins is very simple and fast when sending balances between countries

yes, this is just fud from the government so they keep people away from using crypto, so just keep buying and waiting for the bulls to return

The question is, how will you buy such large quantity of btc by your black money?.
If you go to any centralized exchange, they will ask you to do kyc and add money from your bank or credit/debit card.
If you planning to do p2p trade, then again you have to personally meet the seller and buy btc from him for cash (Which is risky considering you want big amount)
Even p2p platforms like localbitcoin and paxful ask you to do kyc for larger amount of trades.
So their is no way you can launder your black money through btc.

If you won't be caught ? then why not right?

Do your country has no Laws and action about Money laundering ? in mine there are so tight way in monitoring money launderer because of the cases happens couple of weeks ago when syndicates use our country to launder tons of money from other countries bank.


But I'm telling you Not to dare trying this because once you caught surely your funds will be going to confiscation .

I do not do that since I am no crook. If it is gambling money then it should not be dirty. But aside from crypto, I might also buy gold and silver using the said money since there are so many establishments that sells them. But I might not do bulk purchases, just little purchases here and there. Also with bitcoin, I would prefer personal direct approach buying bitcoin from people and putting them on my personal wallet. No fuzz, no mess, hopefully.

I am 100% sure that this guy is either from the IRS, or someone who doesn't have any idea about Bitcoin. If money laundering is the only concern here, then there are much better options available. Bitcoin is not anonymous and every single transaction is being stored in the Blockchain. Obviously you can use a Bitcoin mixer, but then why go for all this hassle, when there are more attractive options available? Money laundering is possible with Bitcoin, but only for smaller amounts. And even in such cases, there are better alternatives available. 

Tax is a good thing and evading it means that you are not bringing back something into the community, it is natural that the government is going to hunt down money launderers because those taxes could be used to build projects that will benefit the many, I understand if some launder because the government is corrupt but with you evading taxes, you should at the least bring something back in the community.

If you live in place where Money laundering is not rampant and the government campaign is not that Tight then for sure you can easily launder Funds from here and there.

There are some country that has weak laws and this can be conducted by ordinary people to launder money.

But if you are in USA  or other country same as that? then you will surely be caught and put behind the bars and all your funds will be in Government funds added.

Tax is a good thing? Who told you that? Nowadays, most of the tax money is being used to wage wars abroad and to pay the most unproductive members of the society. I am not in favor of tax evasion, but just saying that over-glorifying the tax collection is not necessary. If the tax structure is fair, then no one would be in favor of evading taxes. But when it becomes a way of punishing the successful people and rewarding the unproductive individuals, then it's purpose is put to question.

It is possible especially because of the characteristic does Bitcoin has which is decentralization. It would be a lot difficult for authorities to monitor or track this kind of activity unless you will undergo KYC in some exchanges or something. However, I wouldn't recommend this such activity as it destroys images of crypto especially Bitcoin that is why several governments across the world are having a thought of accepting it or legalize the use of Bitcoin.

I dont think @Kittygalore understands the concept deeply, most of the countries take more than 30% of what you have earned and for medium class or lower medium class people, that is allot of money to simply giveaway. On that the developments by the country and politicians towards them will not be of recognizable impact and therefore most of them think of laundering the money to save it.

It might be an illegal activity in the eyes of the government but for a small household, it is allot. So no one can judge it on a general way, people who are laundering with illegal income is definitely wrong but what about genuine poor people..?

Did you read my whole reply though, you can pay your tax if you know that it is going to the right thing and not every country is waging wars, maybe your country does that but my country doesn't. The successful ones have more money and that means that they can give back more taxes, that's the way it is and if you want to change that then you should probably change the system yourself instead of whining that the rich are taxed too much when that is not the case.

Actually it is really possible to do money laundering through the used of bitcoin as bitcoin is really hidden in which no one will be able to know if you already holding a bitcoin because your the only one knows your wallet and no one will be able to have access on it. As I've been watching several videos including reading the different stories of Xian Gaza in which they can hide their money or do some illegal things by just hiding their money into cryptocurrency especially in bitcoin and no one will be able known of this because they can transfer it to different wallets in order for them to be not trackable.

for now doing money laundering with bitcoin is not as easy as you think because nowadays almost every cryptocurrency exchange requires its users to do KYC to prevent users from committing crimes, and on the other hand blockchain is also transparent so in my opinion this can make it easier to investigate illegal activity.

The very after effects if does being tracked down. The image of this entire industry are being affected since those who
don't understand the concept will conclude right away.

Money laundering are everywhere, not just inside crypto but as development grwos, those illegal  doers are continually
looking for the best place to deal with their illegal activites.

It's not the riches who are being taxed too much, but the middle class which has to carry the poors and also the riches on their back through abusive taxation. We have no idea where the money we pay is being applied, because there are so many taxes over each very product and service. But if we are talking about third world countries most probably the biggest part of this money is being stolen someway.
If in your country the taxation policy works well and benefits the society, congratulations, you are very lucky and it's totally fine to be proud of it, but it's not the case in most countries. So I think people have the right of at least whining about the situation, as nothing else can be done.

Laudering money through fiat or bitcoin, doesn't matter, it's not an option to *protest*. Anyone doing this will be tracked and considered guilty towards the society. That is all authorities want angry people with the system to do.

I think crypto can be used for money laundry since banks which are the financial institutions can not regulate the activities of crypto,it can then be used for any illegality. but it was not the initial purpose why it was created....my opinion though

I am sure and convinced that where there is a lot of money, there are a lot of attackers, but in what quantities, because there are positive qualities in bitcoin and there are more of them than these rumors about money laundering with bitcoin, so I count how many people there are so many opinions.

I don't think this liability rests on Bitcoin, money laundering has been going on for ages through fiat and other assets. Even before the creation of Bitcoin, terrorists have been evading the government by making black money white. On the contrary, in some cases, the government has more Surveillance over Bitcoin transaction, so everyone is careful enough to use Bitcoin. I think other assets and fiat money are used more than Bitcoin to finance various terrorist activities.

Laundering money through bitcoin is a bad idea—not only because it’s illegal, but also because it leaves a permanent trail. Defendants have repeatedly been undone because they’ve relied on the cryptocurrency for some part of their nefarious activities. Sometimes, they’ve been arrested years after their alleged crimes.

Hello everybody. Every year it becomes more difficult to use cryptocurrency for money laundering, because now KYC has been introduced on all major crypto-exchanges, even decentralized exchangers will not help you avoid questions from bank officials about the history of this money. Surely there are some money laundering schemes associated with cryptocurrency, and they are used, but this is not a greater percentage of money laundering than through cash or some other instrument. Money laundering is bad, but for any Fresh "apple", there is always a "worm".

And what if your government bans gambling and decides all profits are dirty? Will you stop gambling or keep doing it with cryptocurrency?

As you see it's all a matter of perspective. Some things are called dirty in one country and allowed in another. We as a part of the online community don't care about borders because when you're in the Internet you are bound by general ethics and laws.

If something is allowed in 90% of the world and banned in the country you're currently at, but you can do it in the Internet despite the ban, will you? Many people will say yes and become criminals in their country.

Bitcoin isn't clean money at all, when you want to convert them into cash there is always a trace to follow.

Bitcoin and cryptos by themselves can be anonymous with technology like the coin mixers or Anon coins like Monero where the transactions are impossible to trace by its blockchain, but in the end, you will want to convert that money to cash, and there is where de anonymity disappears.

Yes, it is possible and already it was done in many countries. And I believe that still many people are transferring their black money using Bitcoin. It is the most easiest way to transfer big amount of money without any hassle. Corrupted money can easily be transferred to other wallet or to others without knowing others. So, it is already known for transferring money anonymously.