Bitcoin Forum

Between 2004 and 2010, HSBC laundered Billions of Dollars for the Mexican Drug cartels and nobody blinked an eye. After

7 years of doing this, they got busted and they paid US$1.9bn in fines. {This could be recovered in profits, within a few

weeks} Most people saw this as a slap on the wrist for the people who were involved with this. Not one person working for the

Bank got jail time for doing this.  ::)  https://observer.news/featured/5-years-ago-hsbc-fined-record-us1-9bn/

Ross Ulbricht, was sentenced to life in prison without parole for creating and running Silk Road, which allegedly facilitated

the sale of $250 million worth of drugs.

                                    Why are we seeing such double standards, when Bitcoin is involved?

I have not heard the Chinese government encourage the use of bitcoins. All governments don't like bitcoin. But some governments forbid bitcoin by a strong-willed decision and some governments take a wait-and-see attitude. They do not prohibit or permit it. Fake money laundering using bitcoin invented banks to fight its main competitor.

The double standard makes perfect sense when you consider that the entire foundations of our fiat economy are dependent on the the success of banks.  Hence the phrase "too big to fail; too big to jail".  They can make an example of Ross Ulbricht because the US economy won't collapse as a result.  If the US locked up every banker that did something wrong and fined banks amounts that were more proportionate to their crimes, they'd effectively be shooting themselves in the foot head.  It would be fatal if major banks went under, so they'll keep doing everything they can think of to prevent that happening.  

Eventually, though, the banks will take that one step too far, where there's no coming back from it.  They're on borrowed time.  The bill comes due.  Until that point comes, a slap on the wrist is all they're ever going to get.  

Bitcoin can be used anonymous, I think that is why most of criminals use it for money laundering. Because of its decentralization, almost all countries hate it as well. I believe it is more dangerous if it not regulated real fast globally. It has a side effect which is price might fall deeper but it will find its way to be clean from the dirty hands.

Bitcoin is clearly not the main problem, but it helps criminals to laundering money easier.Bitcoin is in fact use for people and criminals to hide money from governments for many reasons. If they had to use US$ the laundering is more difficult. Using Bitcoin the laundering is much easier because it can be value transfer between individuals, across international borders, and so forth. Using dollars is easier to track and catch criminals.

Because bitcoin is perfect tool for money laundering its cheap and very anonymous nobody will trade you if you will use mixers and service like that.

Its obvious that the main reason is because bitcoin is way easier, cheaper and also its harder to trace than using banking system. Eventhough you can tracked the transactions and the transactions are recorded, you can never now who owns it, someone can have more than 100 address to circulate and hide transactions between accounts and by the time you know which one is the right address, the amount of money inside already been transferred to somewhere else.

Silk Road wasn't entirely known for money laundering though, so the situations are hardly the same. He was also charged for more crimes because of the broad scope of what was going on within Silk Road. I completely agree that there are massive double standards in place though. People have always said this, and I agree that Ross Ulbricht was simply made an example of.


I don't think Bitcoin is very relevant in this case. It could have been run in fiat and I don't think the result would change. Bitcoin was simply easier to use for illegal activities back then.

The idea of anonymity and untraceability are two of the main reasons why criminal organizations are attracted to cryptocurrency.

Bitcoin is just much easier to use and frankly I believe that a lot of other cryptocurrencies or even a lot of the payment systems in the world can be used and abused. Its just a matter of bitcoin having a much easier access due to its anonymity and a much more better groundwork kn some countries and places which are welcome to some institutions. The best thing we can do is to provide more information and advertising to correct this kind of thought towards bitcoin

Bitcoin money laundering is still a difficult thing for me.

Unless bitcoin is truly a substitute for an existing currency, the process of money laundering will always be; The process of usdt-btc-usdt means that there is always a need to go into the banking system where money laundering is now strictly regulated, and that all bitcoin transactions on the Internet will leave a good mark. In contrast, the money laundering of artwork is more reliable, faster and more profitable than bitcoin, so even if someone is using bitcoin to launder money, it is believed to be very rare.

That’s cool shit. I did not know that HSBC made scam over billions of dollars. The fines they have got was nothing in front of what they might have earned back in drug deal. They could have gotten more billions to leave the bank on its own for next fifty years or so. Lolz. Isn’t that is crazy thought that they have created out of the bitcoin.

What this means…? Yes off course it means that bitcoin is great way for money laundering.   :o

Also is there any specific reason why a bank needed to do that itself? What’s the point here that I am missing.

The fines levied on the banks are carefully calculated to ensure that they don't harm them. In effect, it is actually just another form of taxation. Think of it as the 'doing bad stuff' tax. Banks factor that into the calculation of what business they decide to do as an extra risk factor.

Money laundering using crypto is tiny in comparison and most of it has moved away from Bitcoin to more anonymous altcoins that are better suited.

The double standard we are talking about is not without a good reason considering the fact that bitcoin because of its decentralize nature can easily be use as a tools for money laundering.This is even made more worse because no government have direct control of bitcoin and you know those in power we naturally go against what they can't control. Government will always favour the banking system though it is the major tools used for money laundering because they are in direct control of the banking system through the various policies they established which the banking sector helps to execute.

I fully agree with you on this,politics always protects those who funding them before election,while they are in power and after.Banks and governments are closely related and depend on each other,just remember 2008 and how most of world governments saved the banks with public money,although the banking system was to blame for the financial crisis.

I bet many big banks do the same thing today,money is just money for them-there is no difference whether the money come from drug cartels or illegal arms dealers,it is only important that everything remains undiscovered.Even if that fails governments service will clean up for them.

Experts say bitcoin is becoming too mainstream, and therefore too risky, for criminals, so they're switching to more obscure cryptocurrencies

At least for HSBC, there were a proof and they were caught for this illegal transactions, because everything happened within the system. But for bitcoin it won't leave any proof, just a ledger entry in blockchain. It is pseudo anonymous in nature, hence governments are actually worried that bitcoin is the much better and cheaper option for money laundering. So it's not about double standard game played by the governments. Bitcoin has now become a favorite currency for illegal transactions like money laundering and terrorism financing. We as a common people, certainly don't want such nuisance to happen in bitcoin network because it's hard to catch. 

All currencies are used for money laundering no matter what or how they are. Bitcoin is just one of the currencies and if bitcoin didn't exist there will still be people laundering money. People will always find a way to launder money although I don't think it is very easy to launder money using bitcoin since you still have to cash out the money at some point and still use banks,

Well bitcoin is used by money launderers to avoid the eye of the authority. But such moves are now a disadvantage to money launderers since the transactions can be easy traced using blockchain technology. That is why what they thought the anonymous transactions is also the thing that leads to their imprisonment since they never thought of the traceable transactions by looking at the blockchain records.

It's because bitcoin is a decentralised currency not owned by any banks or financial institutions.Its true that bitcoin is used for illegal activities.I think that these financial firms are funding media to conduct a propagation against bitcoin as they suffer from bitcoin a lot and just misuse the media for the benefit of their interests.

Speaking of double standards... (https://www.buzzfeed.com/heidiblake/uk-refused-to-raid-lycamobile-citing-its-tory-donations?utm_term=.blqw9WQq4#.fdV5gQNRE)

Another fine example.  Criminals funded by criminals.  That's how the UK operates now.  Or probably has done for decades for all we know.  All done in Pounds Sterling and Euros.  It's no longer remotely believable to say Bitcoin is a tool for money launderers.  That shit just doesn't fly now.  It's governments, banks and big businesses that launder money.  And they do it with fiat.  The word "corruption" doesn't even come close anymore.  It's an obscenity.  

Probably won't even make the evening news, either.  The public don't give a shit.  Too busy being enslaved, apparently.

The answer is pretty simple, because bitcoin anonymous, you don't need any id or any type of identification or personal information to get your hands on bitcoin, so it makes it easier for anyone trying to hide their tracks and escape from paying taxes to the government, or launder illegal money, that is why bitcoin is being used by all the hackers and drug dealer on the black market, and that is what government have against accepting.

It is not that easy to do money laundering with bitcoin since it is kind of hard to exchange a big sum of bitcoin without exchangers or other person will observe something is suspicious. I am talking here about online exchangers because it is almost impossible to sell bitcoin worth of millions, maybe billions for cash

This is my point too when i attend events and people raise the concern of bitcoin being used for money laundering. The question I ask is ''has money laundering not been happening before bitcoin ? So it is a human thing and not about the technology, money laundering will continue to happen with or without bitcoin. It is just a way for people who want to de-market bitcoin to do so.

Bitcoin isn't anonymous. It's important to understand that once your transaction is confirmed, it's stored in the blockchain for ever. Initially you might consider yourself safe, but at some point the link to you CAN be made.

Fiat as in conducting cash transactions in that regard is a far better way of remaining your privacy, and thus a better option for criminals and whatnot. No logs or transaction history, nothing will ever point to you years later.

It's a frequently debunked subject, but it keeps being used as an excuse to put blame and shame on Bitcoin, which should stop for once. Cash is by far the main root of evil when it comes to all things Bitcoin is being blamed for.

Before the blockchain not been created. The bitcoin uses in anything bad. Like they use bitcoin to pay drugs and they use money laundry to make sure there money is safe and no one can trace the amount of the money. But the blockchain created the bitcoin now is transparent if any one will do money laundry it can be traceable.

Some people misunderstood about Bitcoin,many people still think that Bitcoin transaction in untraceable, so most of them do money laundering using Bitcoin, and I think it's not fair to accused Bitcoin as a media to do money laundering, before Bitcoin was created, people always used fiat to do money laundering but nobody complained, I think there are some people that don't like Bitcoin to grow

Of course that is a case of double standard because a crime is a crime and anyone found guilty ought not to be treated with levity. It's remarkable that financial crimes like money laundering did not just start with the emergence of Bitcoin some nine years ago, but have always been there. The only reason the HSBC incident ended up with just the payment of a fine of $1.9bn and neither the bank closed or those directly involved serving some jail term is, because it's still those in authority that own shares in these banks, so it must never go down.

I think that money laundering is the best thing that bitcoins can do! I'm certainly not talking about drugs money.

i don't think many peoples use bitcoin for money laundry, but there are only a few maybe.
the reason is they want to save their money to bitcoin so their asset list not appeared too much.

I think that now there are many criminal gangs using bitcoin to money laundering because bitcoin is blockchain technology the Government can't manage it, but on the other very useful little bitcoin for the life of us because it brings stability and financial resources bitcoin investment for a long-term and stable investment.

Welcome to the real world where anything the government doesn't likes is illegal and anything they like is legal, even if its wrong. Also people don't need to use bitcoin for money laundering its just that it is easier to launder money using it as it keeps the transactions anonymous if you got the entry and exit points right.

There will always be double standards when bitcoin is involved, because authorities are against cryptocurrencies. Bitcoin was created for p2p transactions, so the middlemen could be avoided and transactions are decentralized. Meaning: the government has no control over these transactions. And will not be able to tax. As banks and governments are on the same side, governments will always protect the banks. And together they will try to centralize bitcoin. So, criminal activities with bitcoin will be sentenced much harder.

That is the reason why we need bitcoin to grow bi this year, when it becomes too big to fail then no-one can stop it. Not even regulation, because it is a global currency so other countries will simply carry it forward. Hope to see it pass the ATH this year

They use bitcoin for money laundering because bitcoin is a easy way to earn money that may provide there needs. And it is accessable trough internet us long us you have a internet connection. Thats why they use in money laundering.

People do not need Bitcoin for money laundering because it isn't as anonymous as many people think. UXTOs are really easy to track if you know how to do it properly. There are many other cryptocurrencies that could be used for money laundering. For instance, Monero - it is completely anonymous, even a complete newbie would not have any problems with staying anonymous. In Bitcoin is extremely difficult because you have to take certain steps. Also, people can launder money even without cryptocurrencies so there is no point in attacking them.

Actually this is normal, they use bitcoin for money laundering because they do not have permanent work or source of income for their daily life. They think easy money will give them easy and happy life.

I agree with you that bitcoin  is not the main problem because even the paper money that bank  or government controlled can use in money laundering. The problem is us (not all) , some are too greedy to  get rich in instant in easy way and effortless then we become victim or suspect in money laundering .

Because Bitcoin is anonymously, its holder is not visible, so when there is a cash flow they will convert to Bitcoin to hold, if deposited in the bank they will be vulnerable to discovery. Bitcoin is safe and anonymous, so they will put all of their money into Bitcoin.

IMO, People will always be people if they have intentions to illegal stuffs or blinded by material and earthly things they will surely grab those trending and what they think they can have opportunities to gather their negative intentions and trying not to be caught by gov't officials.

All currencies can be used and are being used for money laundering since many years. No need to blame Bitcoin or cryptocurrencies.

"The estimated amount of money laundered globally in one year is 2 - 5% of global GDP, or $800 billion - $2 trillion in current US dollars."

Source: https://www.unodc.org/unodc/en/money-laundering/globalization.html

Because bitcoin is the best tool for money laundering. It is untraceable, so you need not cover up your asses. Thats why the government are against bitcoin because its prone to that. And i dont blame the government, they are just making sure that bitcoin is not used for crimes.

You see, in transactions, bitcoin users do not necessarily include

I think money laundering is easier to use the bank than bitcoin, because you can track it with blockchain. In the other hand, if you trace it with a bank, it might break the policy

not all people like that. it's just some people who doesnt want his wealth to be tracked by goverment, so they convert that asset to bitcoin.

I absolutely agreed that money laundering had been existing before bitcoin, using anonymous transaction of bitcoin to launder money is also possible among criminals and drug cartels however where these unscrupulous people's bid to exchange these huge funds to fiat will definitely involves an insider (bank official) as accomplish who must be involved thus bitcoin transactions is exonerated from those shady deals.

because they feel more save from police to move their stolen or illegam money.

many cases of money laundering using bitcoin, they are high-class criminals.

why do they use bitcoin for money laundering? this is because of the anonymous bitcoin character, making it difficult to detect, it is very easy to transfer without going through a third party because the blockchain system is P2P.

Safe? What are these people going to say to the IRS, when they audit their personal finances? You cannot hide from Death

and the IRS.  ;D .... Bitcoin is not the best coin for anonymity and most criminals already figured that out. There is a big

movement from Bitcoin to Dash and Monero by some of the criminals. <Just look at the coin they are using on Tor>

this is the reason why many countries do not legalize Bitcoin, because Bitcoin is very easy to make for money laundering. because Bitcoin is anonymous, and Bitcoin is very difficult to track. so a criminal, corrupt country who wants to clean up the money, they can easily do it.

Most people using bitcoin for money laundering because this can't be easily trace transaction and you can use other people identity which is hard for authorities to verify and also currency is accepted worldwide so you don't need to withdraw for currency exchange.

Bitcoin are used for money laundering because the transactions are very difficult to trace and there are still no laws that govern cryptocurrencies in most countries.  Anyone can do bitcoin transaction anonymously.

because not all countries can accept bitcoin as a legitimate transaction tool, therefore many people are buying bitcoins to launder money.

Reasons why bitcoin is use for money laundering is because bitcoin is so popular in a way to easily earn money. As long as people can make easy money, they will grab that opportunity even if they don't really know what's in it that can give them money in an instant. Also bitcoin can be used by anyone, anywhere, as long as you have internet and gadgets (smartphones, laptops, pc),it can be used. Also, it is easy to use and can easily be used in doing/making transactions where those transactions cannot be traced because of bitcoin's feature: pseudonymity.

Money laundering is just an excellent opportunity for the government to ban bitcoin!

Yeah true I think that's the concern for the government, bitcoin has something that provides their identity security for undercover transactions so it's feared there will be lots of illegal transactions done (like money laundering) if bitcoins circulate freely in a country, that's why we see many countries prohibit the use of bitcoin

Bitcoin is able to offer fast seamless transaction, remain anonymous and does not need a third party to be involve in the transaction.

Well I guess because bitcoin is free from the control of the government of central banks. They want to be free from the eye of authority. But since bitcoin is transacted online, we cannot say that it's totally untraceable. But bitcoin transactions are anonymous making them believe that they are free from authorities.

I think people use  bitcoin in my laundering because it's the safest way where the government can't easily trace, most especially if your travelling abroad and you can easily exchange any currency you want.

well, bitcoin transactions can not be traced, so they use that opportunity to launder money. well, as far as I know. but, for now, each market has a special circumstance in which each member who wants to make a large withdrawal must have a kYC to suppress money laundering.

I think that the nongovernmental nature, which is not required to use real identity when trading Bitcoin has made Bitcoin exploited in money laundering. This is one of the reasons why many governments have warned about Bitcoin.

All bitcoin transactions are completely anonymous and can not be reversed, so for salespeople, they can be assured of fraud. Because of the anonymity of bitcoin and not Who controls, criminals can use this currency as a mode of transaction. Hacker may be trying to attack multiple bitcoins to steal large amounts of money and money laundering can happen easily.

this is funny, not just bitcoin that should be blamed in the context of money laundering, all currencies both conventional and digital have a risk for the occurrence of money laundering. indeed the government will have more difficulty in tracking the use of bitcoin for money laundering, but it is the same when conventional money used for money laundering becomes very difficult to trace because of the interference and interests of certain people who try to block the investigation. instead I feel that if blockchain technology continues to be developed, the future will be easier and reduce the risk of using money laundering.

Yes the drug pushers use bitcoin before. It used for the payment and also in money laundry. They use money laundry because it will not traced where the money come from and it didn't know that what is the purpose of this money.

Yep criminals are moving towards Monero which is designed to avoid tracking

Bitcoin can be used for money laundering and any kind of illegal transactions online because it is difficult to tracked any of its transaction by the authority, many people are being scammed and lost their investment in thin air because they don't know where their investment go and who is the people behind it, that's why government warn its citizen to watch-out investing on crypto.

Best explanation I've read so far. If I have merit I gave some already. You are right, huge banks play big role on how the economy is moving forward or backward everyday. So a sudden change will definitely affect the economy. Just like what happened to WallStreet.

Maybe some peoples dont want their amount of money exploited, so they buy bitcoin to store it.
but i dont think everyone do this, it is just some peoples only.

As for the question in your subject, people do not need BTC in order to launder their money as money has been laundered since the beginning of using money itself. How many criminal operations who need to launder their assets do you think have changed over partially or fully to using BTC? First of all, much laundering is done as a third party arrangement, rather than by the asset holder in the first place. BTC would be a threat to these 3rd party launderers as you could imagine. Plus it doesn’t really translate as an actual laundering. As when you go to cash out with your BTC to fiat there still lies the question as to the origin of the funds. Don’t forget about instability of the currency itself that could also affect the confidence in using it.

to avoid their asset to be tracked. but i think only some peoples do that.
most peoples who buy bitcoin is for investing, or for trading i believe.

Indeed. It doesn't require proper identification that's probably why. The users or people who use bitcoin for illegal transactions cannot be tracked by the government or the local police. This is where we can buy and purchase bitcoin without knowing where it came from.

Why do people need to use Bitcoin for Money laundering?

This is a slightly strange question in my opinion! It is obvious! Because this is the easiest way to launder money, for now. ;D

Bitcoin has also been used to transfer illegal assets – buying Bitcoin in its own currency, selling it on foreign trading platforms, taking it out in US dollars, and transferring assets in minutes.

Actually despite bitcoin transactions or other digital currencies do not require holders to trade under their real name it turns out that bitcoin is a terrible tool for money laundering. The trouble is that all bitcoin transactions are tracked and if smb want to catch you he would do it with high propability

This seems like the negative side of Bitcoin, because of privacy in transaction individuals can launder huge cash and transits different country at a time, this also applies to people that use Bitcoin to transact with drugs and arms equipment, This migth be a major reason why government globally has refuse to accept Bitcoin as a legal currency.

What do you mean by "double standards"? That's just the anonymity of blockchain technology that allowed such a wide-scale money laundering.
Anonymity is something that makes bitcoins attractive. BTC fans are basically quite respectable people not being prone to crime. But the possibility of nameless transactions makes the bitcoin system attractive to criminal elements.
On the one hand, digital currency is anonymous, on the other hand, your transactions create a footprint in a virtual network that cannot be erased by anyone, so this record can be traced when you least expect.
The user remains anonymous unless his name is associated with his transactions. As soon as it becomes possible to link the user to the wallet login, all of his financial history is on the surface and may become public - What actually happened to Ross Ulbricht.

Yes bitcoin has been abused selectively as already many financial institutions and banks have got frustrated due to bitcoin.So they all specifically target bitcoin that it is used for money laundering.

You can track transactions that have been noted that you can not now have them. Someone who has more than 100 addresses to circulate and hide transactions between accounts and when you know the amount of money inside has been transferred through other places. 8)

Bitcoin does not track its transactions because its anonymous so people start using it like money laundering. Because it is one of the advantages of bitcoin and utilized by people who do not want to see the money transactions.

The answer to this question is very simple. Because Bitcoin can be changed everywhere in the world with money. In this way you can easily put money into any country in the world. For example, in some countries you can put money in this way and live a life like you want.

Well money laundering was always there from the start before bitcoin was invented or created. As technology grow, developed and adapted online is easy to do illegal ways such as laundering and bitcoin is no exception. Transactions can be tracked but cannot identify who the person or group were doing such acts, so that's why many scammers and frauds circulating online. That's why such governments afraid to adapt bitcoin because of these frauds.

Unlike the existing banking system, bitcoin is decentralized and you cant really trace its transactions to the subject. Plus, a very huge amount of money run through the banking system will always raise eyebrows.

Indeed, bitcoin is very prone to be used as a crime of money laundering. People use bitcoin for money laundering because the process is easy, fast, and cheap. Money laundering users did not require operational and tax costs. The transaction process is easy and fast because it uses a decentralized blockchain technology. In addition, money laundering users are benefited from anonymous facilities in bitcoins. So, it is difficult to trace and not dealing with state financial authorities.

I dont know, but because of those people is that a lot of people is skeptical about putting money on bitcoin, because they think that iti s ilegal or fraudalent. That is the most important reason of why there is as lot of bad advertisement about bitcoin on the internet.

There is no doubt that all the coins in the world are used for laundering. Bitcoin is a currency and bitcoin if people do not have money laundering. People can always find a way to gain money. We also know that getting money from Bitcoin is not an easy thing to do. In this case, you can use a bank account to withdraw cash.

Yes,being anonymous makes the criminal do the shit. They were the shit headed individual who ruins the bitcoin reputation. But if I were in the government I would not blame the government for this because whatever kind of currency launderers will always find their way.. 

Bitcoin is a kind of crypto currency which can take you to the sky if you use well and wisely and it can also take you too the ground if goes into the wrong hands. As each coin has too sides bitcoin being so vulnerable and so advantageous too have some bad points and these are the points because of which governments do not wants to legalise it. Bitcoin investment does not involve any third party seizure and therefore it is next to impossible to track bitcoin transactions, this feature is made user transactions confidential and safe but this feature is misused and now being used for illegal activities like selling drugs, explosives, money laundering etc.

There is an opinion of specialists that it is more difficult to launder money through Bitcoin than through fiat money and real estate.

Bitcoin is anonymous and that’s what makes it great if you look around and see all the wonders in the world is that there would also be some drawbacks. And with bitcoin it has been an instrument of some groups or persons that use the cryptocurrency as a way to scam and manipulate people. With it they can use it as a tool for money laundering as it can be untraceable and very hard to tract or detect.

because technology owned by bitcoin is very sophisticated wallet owned bitcoin has no owner name so make bitcoin very suitable for money laundering and very suitable in use for money laundering

Bitcoin is a perfect tool for money landering because no one will track your transactions and personal information. So if criminals want to hide, Bitcoin will benefit.

Criminals use the money earned from illegal actions to buy Bitcoin and because Bitcoin trading doesn't require identification, the transactions are easily completed. Also, the fee for each transaction is low.

One can easily convert anything of value, including fiat money, into Bitcoins, simply by bartering or buying them. As a result, one could easily sell illegal services or products strictly for Bitcoins, or purchase large amounts of the digital currency with regular fiat currency, then transmit the digital currency offshore and either exchange it for more illegal products and services or convert it to another nation's fiat currency and deposit it into a bank. It's how money laundering by Bitcoin works.

Indeed, bitcoin is very prone to be used as a money laundering act. This is caused by bitcoins that do not have a clear legal landing. Bitcoin in some countries is prohibited so bitcoin does not have a strong legal basis as a valid payment instrument. This makes bitcoin easy to use for crime. The absence of an authority that supervises and regulates bitcoin makes irresponsible people to commit crime through bitcoin. Maybe, that's a bit of my analysis.

it is very feared and will harm the bitcoin at some time, many of the perpetrators or suspects of corruption who will do money laundering by buying and investing bitcoin. which is my question, what does a bitcoin do if it happens?

i haven't heard any of it but i suppose you can use it as a money laundry because banks nor government do not control bitcoin and the investment plus profits you can gain in bitcoin can double from the money they make.

as we can see that bad people use bitcoin for bad things like money laundry, do dirty transaction, corruption, and all thing that bad, why? because bitcoin is anonymously so they think that bitcoin is can't trackable and its true that bitcoin is can't trackable, so i think that bitcoin is the one of the the bad currencies because of anonymously

There have always been enough other tools besides bitcoin for money laundering.Any transactions are easily tracked, and dirty money has been at all times,unfortunately, and money laundering needs to be fought by other methods.Yes, all governments for some reason do not like bitcoin. But we must understand that this is our future.

Its quite simple, The freedom Bitcoin has from the governing institutions is the main reason as to why its used for mony laundering, BTC operates freely without being monitored and is protected buy the Block chain, the transactions are untraceable making it possible for money loundels to do their business with ease

yes of course they will use bitcoin for money laundering because that's the only one of the fastest way to get them so much money so they use bitcoin just to earn a lot of money

These people probably want to avoid the taxman and law enforcers. Bitcoin attracts the criminal types because of its anonymity and untraceability feature.

all can happen because bitcoin can be accessed by anyone and anywhere without any limit to what and result what bitcoin can be good if its user have a good purpose also

The twofold standard bodes well when you consider that the whole establishments of our fiat economy are reliant on the achievement of banks. Henceforth the expression "too enormous to bomb; too huge to imprison". They can make a case of Ross Ulbricht on the grounds that the US economy won't fall therefore. On the off chance that the US bolted up each investor that accomplished something incorrectly and fined banks sums that were more proportionate to their violations, they'd successfully be shooting themselves in the foot head. It would be lethal if real banks went under, so they'll continue doing all that they can consider to keep that event.

Well the double standard doesn’t happen just in this case but also for anything else, especially when it comes into something big and society might tolerate when it happens, in this case if the HSBC gets bigger sanctions it may be able to disrupt the world economy, that's the wrong with the current system.

Bitcoin isn’t the culprit, Bitcoin is only a tool and got bad reputation from it that is not always people think or it even have become a public secret and actually FIAT and other things got the same but the public doesn’t really care and choose to ignore it.

People don't need to use Bitcoin for money laundering. There are many different cryptocurrencies which are better for this purpose because they are completely anonymous for example Monero, Dash, Zcash and so on. I wouldn't use Bitcoin because it is very easy to track transactions. Monero allows you for fully anonymous transactions. Nobody beside you knows who and when send you any money.

Bitcoin isn’t the culprit, Bitcoin is only a tool and got bad reputation from it that is not always people think or it even have become a public secret and actually FIAT and other things got the same but the public doesn’t really care and choose to ignore it.

It can't be denied that people use Bitcoin for this purpose because they want to. There are many reasons that make up the decision to use Bitcoin for money laundering. Many people, through Bitcoin opportunities, feel irresponsible for their unethical acts that have a detrimental effect on the structure of Bitcoin. Perhaps this is due to the fact that Bitcoin is considered by many as a currency associated with full anonymity and lack of responsibility for the phenomena caused by its users.

Well, everyone would use the payment method which is convenient for him and if money launderers are using Bitcoin to evade tax, they are simply replacing the fiat currency and nothing else so it is baseless to accuse Bitcoin of such mess. Bitcoin provides some more benefits as compared to that of the traditional payment system.

People choose to do illegal thing in cryptocurreny due to the fact that Bitcoin does not have a complete regulation or a full system regulations for the government where in fact drop It as an non legal form of currency.

People use Bitcoin for money laundering because there is no money trail. The system doesn't ask the investor where he earned the investors. Many people call cryptocurrency a fruad because of these money launderers. We should take action against such people.

People do not need to use bitcoin for money laundering. Before bitcoin came into existence, criminals were already laundering large amounts of money without getting caught so they really do not need bitcoin for them to successfully launder money if they wanted to. With the know your customer policy going on in crypto right now, laundering is much harder.

Those who are into money laundering, prefer using bitcoin because it covers their tracks, as the cryptocurrency is not linked to their offline address.
Can we then say that bitcoin I an enabler?

The use of bitcoin for money laundering is not only just to evade tax. Some criminals use bitcoin for ilegal transactions since fiat is tracked by most authorities. It’s possible that drug lords or syndicates have been using bitcoin instead of fiat but I don’t say that the same is true. Unlike using cash, bitcoin is not being looked into by the police although transactions may still be traced. It’s just not being watched carefully as compared to transactions of cash in high volumes.

I think it is a phenomenon of a crime committed by individuals and not communities. something has its negative and positive effects
so I think it's very irrelevant if bitcoin becomes the character of the case as you discussed.

It has a high anonymous nature. No one will know who is behind all the transactions. The BTC performs nationwide operations without any control from the bank and the government.

This world is very unfair. And corruption is present wherever there is so much money, whether it's the US, or the Congo or Nigeria. The rules are not for big money!

Criminals use bitcoin to launder money because of anonymity. The time when they are able to laundering a lot of dirty money is also much shorter. How long it will take to laundering $ 1 billion. Certainly much more doing it outside the cryptocurrency market. This, combined with anonymity, creates an attractive place for criminals.

Bitcoin is only relatively anonymous and therefore it is very rarely used for money laundering. According to the studies, bitcoin for illegal purposes is used in no more than ten percent of cases. Now there are a lot of coins with a high level of anonymity - coins Monero, ZCash, Dash and others. It is them who are more often used by criminals. In this regard, in Japan, the above coins were banned for circulation.

You are right freedom is a human desire that many people want including in the field of financial transactions. of course everyone wants privacy and bitcoin offers it with their anonymous. but for money laundering they usually do it from corruption. they know that bitcoin is anonymous

Clearly the primary reason is on the grounds that bitcoin is way less demanding, less expensive and furthermore its harder to follow than utilizing managing an account framework. Despite the fact that you can followed the exchanges and the exchanges are recorded, you can never now who claims it, somebody can have in excess of a thousand deliver to circle and shroud exchanges amongst accounts and when you know which one is the correct address, the measure of cash inside as of now been exchanged to elsewhere.

In transactions, bitcoin users may not necessarily state their true identity. Usually if there is a malicious intention, his wallet is not exposed on the internet.

People use bitcoin for money laundering because it is unidentified onwner they cannot send summoned if ever elligal transactions caught by the law enforcement.

I think the reason why some people use bitcoin for money laundering is because of its nature. Because of decentralization of bitcoin, it permits the bad people to use it as a tool on money laundering. It is very hard for someone to track on someone's actions unless they will check and try to see all the things that the person does. Also,  no government can regulate the use of bitcoin that is why there are these double standards.

All money units can use for money laundering someway. Bitcoin has easy way for money laundering. But that does not make it a bad thing.

Maybe its because bitcoin is still a technology that has loop holes when it come to legal thing. Law/s are not yet established and rules for using it still on construction for some countries.

In my opinion, people need to use BTC for money laundering because nobody knows any identity of its transactions. Its a decentralized currency, that's why it's the bad side of BTC it can use for any black market. That;s why it must be regulated for the safety of people.

The double standard arrive from people who always think of negativity of bitcoins and want it down. Bankers are laundering money in billions but nothing is said of, when a cryptocurrency user try to move money worth hundred thousands, it become a major news.

because in Indonesia itself. we still find it difficult to exchange cryiptocurrency with paper currency. the easiest way is to redeem bitcon or etherium with rupiah currency .

Since the cryptocurrency is not tracked it is very convenient to withdraw and launder money because they go a very long way.

Its very easy to send and receive money anonymously with cryptocurrencies. So it is definitely easier to launder money with it. These are the people who bring more negativity into crypto and overall shame on the community.

actually money from bitcoin can be used for its sufficiency, because bitcoin income very much at all, if I used to use it for domestic purposes.

Bitcoins are not linked to a person’s identity and only depend on the private key connected to the Bitcoin account. Since Bitcoin is a decentralized network, there is no central record-keeping mechanism that governments or financial institutions can after.

These conditions make it ideal for people to use Bitcoin for money laundering. You can easily hide it and be completely anonymous. You could hide away all your income and not be liable to pay taxes. There are many more ways of laundering money with Bitcoin. Child exploiters, drug smugglers, illegal firearm sellers and intellectual property rights violators are all beginning to use cryptocurrencies for their transactions.

Great information, Here in our country case the main reason I see why some of the people here who have a knowledges on bitcoin + their knowledges about technology they can easily attract some people to invest to their scammed sites like investments for them they are safe because those people didn't know who they are (because most of investment sites don't have the real name of owner of it or who is it).

They don't, they could also use cash, or many other forms of currency which they do. However, of course Bitcoin could be used. But why would you? There are much better cryptos for doing this, than Bitcoin.

People use Bitcoin for money laundering because it is not easy to track. That's why a lot of countries are trying to ban Bitcoin and making a regulation to prevent money laundering using Bitcoin. Simply, people can convert their asset into Bitcoin and transfer it to any places around the world. But I think Bitcoin is not a good option because there are already coins that can't be tracked using private network like Dash and Monero.

Obviously bitcoin is the safest and easiest way for money launders as there is  No verifications, no KYC, no intermediaries, no middle man for the transaction. Unfortunately the double standard being used by the agencies is disappointing and something needs to be done to it. When incidence like this are being discovered, there should be equal and proper judgment without any partialness.

That was indeed true. Because of the anonymously of bitcoin, people are started to use it as a tool or medium for money laundering. Addition to that, it attracts a person or encourage them to do bad things with it due to they have a mind set that no one will know them. Another reason I see why they use bitcoin to money laundering is because of its potential value in the market and the innovation of it.

The underlying technology of Bitcoin is the use of blockchains, which are characterized by anonymity, decentralization, and so on.
The advantage of Bitcoin for money laundering is that there is no supervision, so this illegal transaction can be given!

Bitcoin is obviously not the primary issue, but rather it causes lawbreakers to laundering cash easier.Bitcoin is in actuality use for individuals and offenders to conceal cash from governments for some reasons. On the off chance that they needed to utilize US$ the washing is more troublesome. Utilizing Bitcoin the washing is significantly simpler on the grounds that it can be esteem exchange between people, crosswise over worldwide outskirts, et cetera. Utilizing dollars is less demanding to track and catch offenders.

Actually, people does not really need Bitcoin to do any form of money laundering. They just see Bitcoin as a great medium to hide the money they laundered since only a few would think that the laundered money were converted to Bitcoin also people can easily hide their connection to a Bitcoin wallet.

yes there is many ways to do money laundering but i think people need bitcoin to launder their money because No one can track the money with bitcoin

The reason is simple because they can easily accumulate much bitcoin in which no body will know the worth, but if is in their local currency they may get cut by the government since the money will be saved in the Bank but for bitcoin you have not business with the bank

Government officials do not like the decentralized crypto currency at all, which can not be fully controlled and managed. Therefore, they come up with various shortcomings of the crypto currency to justify why they do not want to legalize it. The use of information that bitcoin is often used for criminal purposes because of its anonymity is a common explanation for such inaction. However, this is not true, because according to studies, bitcoin has been used for illegal purposes in no more than ten percent of cases due to its relative anonymity.

For money laundering, banks are always used to this day. the withdrawal of money into the crypto currency does not add to the laundering of legality. it is rather an unsafe method and an extra one. Crypto-currencies themselves need a kind of "laundering", in the sense that they need to be transformed into the usual financial instruments. The key element in the laundering, that is, the legalization of the proceeds from crime, are the banks - at all stages of laundering.

many Chinese firms use bitcoin as money laundering because, firstly, it is very popular there, and secondly, it can be used to anonymously transfer funds abroad, bypassing China's control over the capital. this is only one of the possible schemes. all of them you can come up with a lot.

I think it's more related to other coins lacking adoption and liquidity. If you ask 100 people if they want to conduct business with you in Bitcoin, 99 will say yes. With Monero it will be closer to 10 or something.

That being said, maybe a lot of the illicit transactions are already being settled in privacy focused coins. We don't know because it's always Bitcoin that's being blamed and featured in articles. It's too much of an easy target.

I'm sure that eventually with more crypto adoption and less ignorance coins as Monero and Zcash will gain more ground. I'm perfectly fine with that since it will result in less negativity going towards Bitcoin.

No, because People use bitcoin because in bitcoin they have a lot of money there in a simple way like posting in a signature campaign and other method you can earn money. Government have a power to do the money laudering but the ordinary people cant the that. Other users of bitcoin like me it is my source of income.

Because the bitcoin ownership process does not require full personal data information, and everyone can have as many bitcoin addresses as possible. So they can be very free to do money laundering through bitcoin, and it will be difficult to know who the owner of the address is, although the transaction can be known but will not be known who the owner of the address bitcoin. For that reason, in the future, bitcoin can protect itself to avoid criminal acts committed by those who are not responsible, by better improving ownership process and security system and better transactions.

well bitcoin is decentralized system and it offers anonymous during the trade so it attract more people who whose only intent is to make more money or laundering money. Anyway some of the exchange has done regulations and implementing KYC  so that it could be noticeable if someone will do money laundering.

People use bitcoin for money laundering because bitcoin offers security that allows the perpetrators of these crimes to be untraceable. Transactions with bitcoin are very secure and the controls are on the bitcoin owner itself. This system is called decentralization. This system allows the owner of bitcoin as full control and holds a single control over their bitcoin. Other than, that bitcoins are equipped with anonymous facilities that allow bitcoin owners to make transactions not using their real identities. Another advantage of this anonymous facility is that our personal data can not be stolen and misused. This is what makes the perpetrators of crime difficult to track his actions because bitcoin offers transaction security.

People don't need to use BTC for money laundering, but its quit unfortunate that they are actually using it to, Tis s mainly because BTC cannot be traced as the transactions are almost impossible to trAck, this however is not a good thing as its one of the reasons as to why BTC IS banned in some countries

The answer is pretty simple, because bitcoin anonymous, you don't need any id or any type of identification or personal information to get your hands on bitcoin, so it makes it easier for anyone trying to hide their tracks and escape from paying taxes to the government, or launder illegal money.

It is easy to launder money by buying Bitcoin. Since transactions yet traceable, they are still anonymous. So people used this as an advantage for money laundering.

Corrupt people and criminal entities found a good hiding spot in bitcoin. They are abusing bitcoin's anonymity feature and uses it to mediate their unjust transactions without the fear of being tracked by authorities in the process. That's why they are making sure that bitcoin doesn't die, because if it does so dies, they would lose a valuable asset.

yeah they find it easy because people whom they have fooled won't be able to show any proofs if things go bad. Here in country, bitcoin is used for scamming and many have been put into jail because of it. Investing is a must at this time  and scammers have found a good tool to be used for stealing money. It is affecting the image of bitcoin negatively and even if we who knows that bitcoin is not scam, other people is still getting a bad idea about it.

Because it is easy to hide all your wealth just by buying Bitcoin and other cryptocurrencies. Instead of buying property or any other type of assets, those wealthy individuals have the idea of purchasing Bitcoin because the government cannot trace their identity. Moreover, the other factor is, no tax will be imposed when they buy Bitcoin.

Money laundering, drug cartel, finance of terrorist, etc., all these things are a black propaganda against bitcoin well-organized criminals don't use bitcoin or accept bitcoin because they cant convert it to cash easily.

They use the characteristics of BLockchain as well as Bitcoin to do bad things. Because Bitcoin trading is anonymity, so many people use and transfer unright currencies into legitimate currencies.

Because people's hearts are evil,  all the way down to the roots. If people would not be so bad, bitcoin would not be so dangerous, and money laundering is not a problem of Bitcoin, it is a problem of people doing that.

All bitcoin transactions are completely anonymous and can not be reversed, so for salespeople, they can be assured of fraud. Because of the anonymity of bitcoin and not Who controls, criminals can use this currency as a mode of transaction. Hacker may be trying to attack multiple bitcoins to steal large amounts of money and money laundering can happen easily.

I think why some people used bitcoin for money laundering because most of people are have a bad plan. Most of people using bitcoin for money laudering are people who don't want to use the bitcoin. It is one of the problem of bitcoin, because of some people do that to broke the image of bitcoin to other people.

Let me bring out this point that bitcoin isn't completely anonymous. If your address is ever linked to your identity, every transaction will be linked to you. Even if you use new addresses every time, it is not enough to guarantee full anonymity due to multi-input transactions. But all this said, it is still a better way than using real currency which involves banks, and with banks comes regulations. So yes ppl will keep using btc for money laundering if needed because of that extra layer of protection.

I think there is a way. As one of my friends gave me some satoshis for cash. So if there will be some rich ppl who have money and want BTC, they will trade it for their cash. even rare, but there are chances of conversion.

they tend to influence other that bitcoin are not good cause they dont want to know this that this is a such a good currency.

Anything can be used illegally, but it does not make it dangerous. The same with the bitcoins. If someone uses it for illegal operation this does not mean that the problem is in the crypto currency itself

Because Bitcoin transactions are highly anonymous, Bitcoin can become a tool for criminals, such as money laundering, drug trafficking, tax evasion, illegal transactions.

As the bitcoin is becoming popular among the public people use it for the money laundering or for the transfer of the black money from one part of the world to another because it's the decentralized digital currency had stored in the digital violet and the person whos violet has it can only reach it and transfer the currency and it's pretty hard to find the transaction.

Because it is the best way to launder money by bypassing the traditional banking system and government organizations by keeping no trace about the personals who are involved because the identity of a person is decided on the private key which is not shared among anyone but the owner and there is no centralized place that keeps about transaction which makes government's helpless in many ways so unlike traditional and complicated methods to move large amount of money Bitcoin is the best way to do the same thing in seconds without any risk which makes it the best way to launder money    

I really don't think bitcoin is used for money laundering as much as the banks and governments want you to believe. It's like "human trafficking". How do you know how much criminal activity 'actually' happens? The cops have an incentive to make the number look crazy high so they get as much funding as possible and nobody else really studies the subject. Any sort of crime stat that estimates how much money laundering really goes on is making at best an educated guess.

That's a lot of trust you have in Bitcoin's anonymity. It's probably safe to say that when you get involved in all activities you stated and use Bitcoin as tool to work for you, you won't be enjoying freedom for long.

Three letter agencies aren't stupid. People are. Bitcoin has never really been anonymous, and even less so with how regulated and filtered this market has become. Everything you do is closely being monitored, that's a guarantee.

because bitcoin is already a lot of people who serve the exchange with paper currency. actually not just bitcoin gan. etherium is also very easy for me to exchange with paper money. because many people are serving .

There are many criminals as of now that they used bitcoin to transact. Because goverment can't access in transaction. They pay using bitcoin not a real money or bank transaction because bank transaction can easily detect. It will take a lot of time to explore the transaction. Criminals use dummy people to secure thier identity.

I believe that case of Ross Ulbricht is very difficult. For me it is very sad to read about him and the double standards. And moreover that no one is looking at the drug problem in essence. It will never disappear if people around the globe will stop playing the game of cat and mouse.
Although i think we have to live healthy, I believe that he never promoted the sell of drugs, in some ways he made it better and safer.

Back to the topic , i think that they got only slap on the wrist because they are fucking rich and powerful, Ross Ulbricht never had such vast amounts of money, thats why they got way with it.

to avoid their asset to be tracked. but i think only some peoples do that.
most peoples who buy bitcoin is for investing, or for trading i believe.

In some part time agree with you. Because of anonymity of using bitcoin criminals can use it for sure own features. But I still think that it is the problem of governments.

There is an opinion of specialists that it is more difficult to launder money through Bitcoin than through fiat money and real estate.

I hear about this for the first time but I think that this is due to the advantage of the crypto like confidentiality, any operations are safe and well-protected. Maybe this is the main reason. I am not sure but think this can be the reason

Because it allows people to be almost anonymous, bitcoin is a powerful tool for money laundering will always be the best way for people to avoid taxes and launder money. That is also the reason why some governments are against it, and worries about bitcoin will be a weapon for criminals to remove tracks from tracking.

Bitcoin is very sustainable and versatile crypto currency and it is like use by almost every people around the world and the best part is that it has very safe and secure transaction and that’s why people find bitcoin much trust worthy and the best part about its transactions and the thing that makes its transactions that much secure is its user anonymity that means its transactions are not involving any third party seizure and I think this advantage of bitcoin is misuse by some social defaulters in money laundering and other illegal activities too.

Every bitcoin transaction can be done and completed without any personal information if done correctly. Transactional information is displayed but your identity is completely confidential. Because of the anonymity of bitcoin and unmanaged, criminals can use this currency as a trading method. Hackers may be trying to attack multiple bitcoins to steal large amounts of money and money laundering can happen easily.

In  every b venture  there  are  both  negative  and  positive  aspects  of  it.  the  main  issue  being faced  at  the  moment  is  that  mot  of  the  peopkle  are focusing  on  the   negative  aspects  of  bitcoin. with time  people  will appreciate  the   essence  of  it.  by  the  fact  that  most  criminals  are  using  it  to  transact  doesn't  mean  it does not  offer  many  benefits to  people  who  are  using it  in  the  right  manner.

Those who use bitcoin for money laundering, think that money laundering through bitcoin is very safe for them, and will not be known who the perpetrators. This is because it is easy for everyone to create bitcoin accounts and buy bitcoins without clear and complete data verification, so it will not be tracked who the real owner of the bitcoin transaction.

Bitcoin is decentralized meaning nobody really knows and how to track where the bitcoin started from. It is easy to laundry dirty money into it.

because very quick investment bitcoin to get the money and juha bitcoin a very lucrative investment to give a huge profit hanay in just a few years so everyone will use bitcoin to get a huge profit from bitcoin

Bitcoin is for the small people to launder money whereas the big players don't need such mediums and can easily launder their money using big banks and private organizations. But the smaller players don't have that option and bitcoin is the perfect medium to launder their money. Although I don't think Bitcoin is being used on a large scale for laundering money.

because bitcoin is anonymous. it is very difficult to trace.

Some people who used bitcoin for their money laundering because before some of the people don’t really know what bitcoin is. In this day many people want to be rich or wealthy in a blink which if you don’t really know bitcoin you can see that it is possible with this. Well somehow we can say that this is possible but there is also a big possibility that you can lose your money here. And that lose is sometimes not explained well buy those people that is why the end result is that they are doing illegal thing or a money laundering.

I think because it is easy for them to use, unlike fiat money they could easily being tract down when they see you holding on it, while Bitcoin  as digital money and as operated using gadgets and nets, they cannot just tract it down if they don't know your infos, wallets and etc.

People prefer using cryptoucurrency to launder money, this is because there's no way to trace or link the digital assets to them directly.
Its safer and the best for them.

It's a funny question. Criminals are always trying to find the easiest and the less dangerous ways for their activities and when it comes to money laundering anonimity and difficulties to trace the transactions are priorities.
This is something that Bitcoin has enabled, especialy at the begininig when first appeared. Now it's easier to trace Bitcoin but still it's much more convenient for money laundering and illegal activities than fiat money.

It is just like someone who rub gasoline on his body going near fire. bitcoin will be a catalyst which will speed up the rate at which many is being laundered into and out of the country because using digital currency such as bitcoin means criminals need not to carry huge stack of money around. with just single hardware wallet. billions of dollar worth of crypto can be stored and carried around from one place to the other. we all also know that one of the features of crypto is due to its anonymities which means it will be very difficult to trace anyone using bitcoin address except the coin is on  exchange platform which require kyc which I am very sure criminals will not be so stupid to do that.

I keep saying this....the blockchain is an enabler of criminal activities like money laundering.
This is largely due to the fact that, there's no way to link cryptocurrency to its owner offline.
So launderers feel laundering money using bitcoin is the most effective way and away from the prying eyes of security agencies and the govt.

Bitcoin is peer to peer and you don't need to fill any form through anyone or go through rigorous process before using it. This makes it easier for people to use it as money laundering. Just imagine the process you have to go through to stash away some cash which you know might be traceable. But bitcoin does that in seconds for you without hassle. Though the public blockchain exists which all transaction can be seen by anyone.

Using bitcoin for illegal activitry like money laundering is almost untraceable because using decentralized system and its peer to peer transaction. I am once watch documentary about Ross Ulbright and its very sad. I think he just want to try make safe market

We are all aware how bitcoin tend to act anonymously. Throught this a lot od bad things could possibly be implied. People who prefer to hide their identity choose to move under table to protect themselves by publicity of their crime. From that, we can draw the conclusion on why do they prefer to use bitcoin.

Bitcoin is very accessible, effective, efficient and such, therefore it is easier for illegal deeds to do transactions with the use of bitcoin. But as we all know the government are slowly taking steps into the crypto world in able for them to regulate the usage of bitcoin to illegal acts. Bitcoin was produced to help not to be a tool for illegal works.

Well...though I didn't pray money Launders should think of using BTC for there money laundering because it's going to affect the economy of such country or even business the money is coming from:

In that you know, btc transaction can't be traced even though you can have the transaction hash id but you can't know from whom ever the coin is coming from and whom ever it's going to ANONYMOUS!!! Indeed....transaction very easy and cheap, no need to go to bank for you to be pinned down by the FBI or KBR.

Because its easy and faster to transfer bitcoin than cash, lets say you need to pay 10 millions, you need a  lot of cash plus a lot of problems, and bitcoin is 1 click transfer.

If you invest in BTC, then you do not need to verify your identity so you can spend all your money to invest in bitcoin then put all of them into a cold wallet. This is very difficult to detect.

since transaction is ecrypted and untraceable it is easy for money launderers to purchase bitcoin and encash it since it doesn't leave footprintsvthat lead to the identity of buyer and seller that is why government are trying to regulate crypto currency to minimize this kind of activity. and KYC  is one of the pre requisite in some other countries if you want to buy crypto coins.

I think it's because Bitcoin have the most influenced thing in investing which many people abuse it and use it for scamming.

The bitcoin is only relatively anonymous and therefore very rarely used for money laundering. According to studies, bitcoin for illicit purposes is used in no more than ten percent of cases. Now there are many coins with a high level of anonymity - Coin Monero, ZCash, Dash, and others. These are those that are used more often by criminals. In this regard, the indicated coins in Japan were banned for circulation.

All governments do not like bitcoin. Counterfeit money laundering by bitcoin has invented the banks to fight its main competitors. Thus the phrase "too big to fail, too large to be imprisoned". If the United States blocks all bankers who have done something wrong and fined the bank the amount corresponding to their crime, they will shoot themselves in the head.

The use of digital money will a double aedged sword. It's anonimity do make it a perfect currency for criminals as their identities will be impossible to be discovered.

Bad people and cheats will always try to exploit any anything and look for their adavantage. Money laundering is an effective way to hide their corruption. They are using the cryptocurrency platform to hide their black money from the governmental authorities.

bitcoin money laundering is possible because its transaction is not traceable and no one know where money have send. because of this things all countries governments are hating this currency if governments want then they can regulate this currency and save bitcoin so no one can do this kind of illegal activities.

well, we know that most people who are corrupt must be looking for ways to keep them unknown, and remain secret. bitcoin has advantages in fast, and anonymous transactions. so, there are some people doing money laundering in various ways to keep them mysterious.

Those who use bitcoin for money laundering know for sure that their actions will not be known to law enforcement and it will be difficult for law enforcement to know the data of suspicious transaction owners in bitcoin, because in the process of making bitcoin accounts and bitcoin ownership many people use anonymous, so it will not be known who exactly the owner of the account. Bitcoin transaction data can be seen and known, but the owner of the account will be difficult to know.

because in bitcoin has a system that is hard to hack, money laundering in bitcoin is the right step because bitcoin does not have to or is not obliged to use the person's own account. bitcoin purchase is also very easy, so the money launderers are very free to do it. in bitcoin can not be detected that it was money laundering or not.

Bitcoin is not completely anonymous, and all transfer information is publicly available on the whole network! In the blockchain network, as long as it has happened, the network still exists, and the evidence is clear as long as it is. People who have done bad things with Bitcoin before can be checked!

Yes, bitcoin is really used for money laundering. But less than 1% of transactions (for 2013-2016) with bitcoins are accounted for coins of illicit origin. For comparison: from 2% to 5% of world GDP (or $ 0.8 to $ 2 trillion) is laundered annually.

Because It’s digital, so is an easily convertible way of acquiring and transferring cyber-crime revenue.

Because digital currency platforms are truly anonymous. It is really convenient  for money laundering

because Bitcoins are not linked to a person’s identity and only depend on the private key connected to the Bitcoin account. Since Bitcoin is a decentralized network, there is no central record-keeping mechanism that governments or financial institutions can after.

The most used currency for money laundering is the US dollar not Bitcoin. They just wanted to bring down bitcoin or at the very least regulate it because they are protecting their interest. They have so much money in US dollar. They also wanted to bring down btc so that they can buy it cheaply.

All people in the world want to be independent of the government. So they're looking for ways to realize it and bitcoin is one of them. You can earn and be safe.

Bitcoin transactions are publicly logged in the "block chain" - a central feature of the Bitcoin security system. Furthermore, a Bitcoin address can be traced back to an IP address.

Money laundering happened before Bitcoin and will continue long after it, While ever there is a requirement to move money illicitly then someone will find a way to facilitate it, Bitcoin is just another channel-admittedly a more sophisticated and possibly secure method.   

Because the instrument caused the risk due to the absence of regulators or supervising administrators.

Totally agree. As to the double standards, it is obvious that the elite of this world has a separate list of rules that get applied to them and only if they screw their elite peers they become subjects of laws for the regular people.

Because using bitcoin is the safest way to money laundering their crime money. Unlike bank accounts, bitcoin is untraceable and anonymous, not to mention safe. The authority couldn't possibly find out where they hid the money. I think it's easier for them to keep it that way.

Now that is an interesting question. For me, I think the reason why they are using Bitcoin is because its decentralised and anonymous. As a result, it is hard to track them until something is changing that would finally figure out their whereabouts. Now, the dark web is turning on to other anonymous type cryptos such as Litecoin, Monero, etc., for money laundering.

At present, the development of Bitcoin is still relatively early. The government has not established a perfect supervision mechanism for the time being, so it has provided some opportunities for money laundering and criminal activities! Bitcoin transactions cater to the anonymity of this part of the gray and even black industry chain that can achieve the free flow of national currencies.

they use bitcoin as a transaction to get rid of the results they get from either drug sales or money laundering, because the bitcoin owner will never find out who the owner of the address is, so they do that to avoid the law

Unfortunately, there are some people who have been using bitcoin and other cryptocurrencies as a tool for money laundering. But it's just a tool. They also using cars and fiat money for making crimes. Problem not about tools. it's about bad people.

What happened with HSBC is not right at all, they should have paid for what they did. But the thing with silk road is also serious crime, it's not alright to let people buying drugs and whatever else illegally.

money laundering is easier they do with bitcoin but the problem is not on bitcoin, but the irresponsible person has gone wrong using bitcoin. and have a big impact on bitcoin prices.

Bitcoin becoming a means of exchange.People are really promoting bitcoin and its got a lot of fans. i am not surprise when i f bitcoin serve as money laundering.

Because bitcoins can be circulated around the world because no country is currently banned from using it, and it is a safe way to move assets without fear of being stolen and fearing taxation. or collect the state ...

When there is something gives you the ease of accessing automatically people's attention will turn towards it. Same is happening with bitcoin as well, the pseudonyms feature has helped it provide with the best money laundering ways and this made people make use of it into money laundering. Even after this, the total volume of USD used is much higher than that of bitcoin into money laundering.

you're right, all bitcoin transactions are recorded.
but the drawback here is, we never know who is the recipient and sender between wallets.

I don't think bitcoin can be used for money laundering without tracking the transactions on the blockchain network. I believe people see bitcoin as a prefect option for money laundering but i don't think it is a prefect option. The network is decentralized and everybody can see the transactions done on this network. It is easier to trace transactions made on this network.

Because Bitcoin is the biggest value electronic currency. Market Bitcoin expands worldwide. Specially in the anonymous Bitcoin transaction. You will not know who I am dealing with. So many criminals choose Bitcoin to wash money.

People need to understand that bitcoin is another form of currency it is a tool to send money to someone so it all depends on the users on how they wanna use it. It's entirely up to them and it's not satoshi nakamoto's fault and especially not bitcoin's fault. We the crypto users are the one who will take responsibility.

And before Bitcoin there was no money laundering? The fate of the Bitcoins depends only on its owner, the accusations of being used for money laundering is somewhat outdated and refers back to the times that was used massively in the Deep Web, nowadays there are futures contracts being traded and probably will have an ETF, each time more legally recognized.

money laundry is illegal in all country, there are many people that want to get their own profit without care with other person, and bitcoin can be the one of media, why? because money laundry is anonymous, transaction is visible on the public but the sender and receiver is anonymous

People use bitcoin for money laundering crimes because bitcoin offers advantages in terms of anonymity. We can transact with bitcoin with anonymous names so that when we use bitcoin for money laundering, our real identity will not be known. The authorities also cannot track the transactions carried out by whom. This is the advantage of bitcoin being misused. Bitcoin offers an anonymity facility for security purposes but is misused for negative transactions. Of course the benefits brought by bitcoin turned into ugliness which ultimately led to bitcoin increasingly losing the trust of the community.

the first point that needs to be underlined is that this is not in its bitcoin. maybe a crypto system that makes it easier for parties to carry out illegal activities.

Criminals use bitcoin to clean money because of its anonymous trading feature. They use this feature for bad purposes. They use the "dirty money" to trade bitcoin with anonymity, then buy it with real money, become "clean money". So most countries hate bitcoins, and some countries even ban bitcoin.

Criminals will use anything they can use to launder their dirty money, not only bitcoin, they deals in any valuable goods and properties.

The twofold standard bodes well when you consider that the whole establishments of our fiat economy are reliant on the accomplishment of banks. Henceforth the expression "too huge to bomb; too enormous to imprison". They can make a case of Ross Ulbricht in light of the fact that the US economy won't crumple thus. In the event that the US bolted up each investor that accomplished something incorrectly and fined banks sums that were more proportionate to their violations, they'd successfully be shooting themselves in the foot head. It would be lethal if real banks went under, so they'll continue doing all that they can consider to keep that incident.

Bitcoin is obviously not the fundamental issue, but rather it encourages offenders to laundering cash easier.Bitcoin is in truth use for individuals and hoodlums to conceal cash from governments for some reasons. On the off chance that they needed to utilize US$ the washing is more troublesome. Utilizing Bitcoin the washing is considerably simpler in light of the fact that it can be esteem exchange between people, crosswise over worldwide outskirts, et cetera. Utilizing dollars is simpler to track and catch crooks.

Since bitcoin is ideal device for illegal tax avoidance its modest and exceptionally mysterious no one will exchange you in the event that you will utilize blenders and administration like that.

Clearly the principle reason is on account of bitcoin is way less demanding, less expensive and furthermore its harder to follow than utilizing keeping money framework. Eventhough you can followed the exchanges and the exchanges are recorded, you can never now who possesses it, somebody can have in excess of 100 deliver to flow and shroud exchanges amongst accounts and when you know which one is the correct address, the measure of cash inside as of now been exchanged to elsewhere.

Except if bitcoin is really a substitute for a current cash, the procedure of tax evasion will dependably be; The procedure of usdt-btc-usdt implies that there is dependably a need to go into the managing an account framework where tax evasion is presently entirely directed, and that all bitcoin exchanges on the Internet will leave a decent check. Conversely, the illegal tax avoidance of fine art is more dependable, quicker and more gainful than bitcoin, so regardless of whether somebody is utilizing bitcoin to launder cash, it is accepted to be exceptionally uncommon.

The twofold standard we are discussing isn't without a justifiable reason considering the way that bitcoin due to its decentralize nature can undoubtedly be use as an apparatuses for cash laundering.This is even aggravated more in light of the fact that no legislature have coordinate control of bitcoin and you know people with great influence we normally conflict with what they can't control. Government will dependably support the managing an account framework however it is the real instruments utilized for illegal tax avoidance since they are in coordinate control of the saving money framework through the different arrangements they built up which the keeping money segment executes.

All monetary standards are utilized for illegal tax avoidance regardless or how they are. Bitcoin is only one of the monetary forms and if bitcoin didn't exist there will in any case be individuals laundering cash. Individuals will dependably figure out how to launder cash despite the fact that I don't think it is anything but difficult to launder cash utilizing bitcoin since regardless you need to money out the cash eventually and still utilize banks,

This is on account of bitcoin is a decentralized cash not claimed by any banks or money related institutions.Its genuine that bitcoin is utilized for illicit activities.I believe that these monetary firms are financing media to direct an engendering against bitcoin as they experience the ill effects of bitcoin a ton and simply abuse the media for the advantage of their interests.

What do you mean a double standards of bitcoin? There is no such standards when one can access money laundering to a system where it could be done. However, in bitcoin there are other countries who could watch over their clients or people to avoid the abuse of the use of the system. Hence there is no way that bitcoin could be use for money laundering in that certain country and this is the good thing having a regulations on cryptocurrency.

Criminals can use Bitcoin like collect ransoms easily and without having to reveal their identities. so most of them do money laundering using Bitcoin, Bitcoin is safe and anonymous, so they will put all of their money into Bitcoin. The currency has also been associated with online drug sales, money laundering, and sex trafficking.

I'm still wondering how are those people laundering money with Bitcoins if at some point they have to turn them into cash to buy something because there are still not many place where you can buy stuff for Bitcoins.

People used bitcoin for money laundry because of it decentralized nature. Nobody will be able to trace it so far you have keep your wallet password and key very well. Unlike fiat which can be trace through bank. Bitcoin is very much prone to lot of illegal deal. Also as it been used for laundry,  profit will also accrue on it when needed to be exchange

But we need to remember that the same activities are made using normal cash, it is nothing special that people could use crypto in ways like that, so crypto is not a main point in cases  like for examples crime.

The appropriate response is entirely basic, on the grounds that bitcoin mysterious, you needn't bother with any id or any sort of distinguishing proof or individual data to get your hands on bitcoin, so it makes it less demanding for anybody attempting to conceal their tracks and escape from paying assessments to the administration, or launder illicit cash, that is the reason bitcoin is being utilized by every one of the programmers and street pharmacist on the bootleg market, and that is the thing that legislature have against tolerating.

Annonism is the biggest motivation. And this is almost the only one of the options in the whole to transfer money and stay, without anyone knowing it. People do not want to show their money to everyone, so they use this method for all 100.

According to the studies, bitcoin was used for illegal purposes from one to ten percent of cases. It's too little to constantly discuss this topic. Bitcoin is only relatively anonymous in nature. Therefore, for illegal purposes, coins with a good degree of anonymity are used.

Anything, word that must be underlined. It is not only bitcoin, but criminal will use anything to help them do crime. Money, bitcoin, or whatever that they can use, they will use it.

it's because people don't have to fill any document and they can hide their real identity from other people or other governments company. they only need to have a wallet which they can use to send and receive the bitcoin and then they can convert it by using third-party services. they can free to do this because other people cannot track who is behind the wallet address and they only see and know that some amount has been sending using the wallet address and they don't know what purpose of the owner to send that amount.

Bitcoin is the PERFECT tool? Surely a coin like XMR, or even a Zerocin based protocol would be a better choice, mixing or not - BTC can of course be traced back through the blockchain more than you think.

Also, what do you mean by "nobody will trade you if you will use mixers and service like that" - If I need to buy BTC, I do not check the blockchain to see whether it has come from a single or multi input, why would anyone do this? Look at that money in your pockets, do you think only law abiding people have used and handled that only, maybe even those coins have been mixed and tumbled with others to dilute and create level of anonymity ?

It is a totally a bad idea to use Bitcoin in money laundering because it tarnishes the image of the currency.

yes, of course, they will use bitcoin for money laundering because that's the only one of the fastest way to get them so much money so they use bitcoin just to earn a lot of money

I think its really simple, they will use whatever it is for money! They will do everything to scam for money. Bitcoin or not is the same for them just to make money. Thats what bad people do to earn for living. So it is not surprising if they also use bitcoin for money laundering.

People were laundering money since always. Bitcoin is just another tool that makes it easier and more convenient... It doesn't make Bitcoin bad as the people will always find a way. At some point with some regulations I expect it will stop, but there will always be a coin like Monero that will be used for this purposes.

Because using bitcoin you find it difficult to track me. being a bad person using bitcoin as money laundering. And that will make them feel safe because no one knows that they are saving money on bitcoin. Therefore criminals use bitcoin. Of course it's only done by bad guys and not all bitcoin users like that. So don't assume that bitcoin is only used for that.

Because Bitcoin (At That Momentum)
The Government Still Didn't Know About Bitcoin And ITS Usability For Money Laundering
And Because Its Anonymity,And Untracebility
But Now Time Has Change
There's A Coin That More Anonym Than Bitcoin
And The Government Already Recognizing Bitcoin As A Money Laundering Platform,So They Regulate It

I once thought about this and the answer was because using bitconi they would never be known about money laundering. Because bitcoin is anonymous and this is of course difficult to track who is the perpetrator of this crime. I think that's the reason bad people use bitcoin for crime. That's just my opinion

Well, I think it is wrong to use the word 'need' here. Money laundering has been here before the advent of Bitcoin. People who engage in money laundering have been doing this successfully using fiat or precious ornaments as their mode of payment. So money laundering does not necessarily need Bitcoin. Bitcoin transactions are mostly anonymous yet it doesn't condone crime. The affiliation of Bitcoin to crime situations is facilitated by people who are against Bitcoin like banks and the government. So it's just a blackmail against Bitcoin.

Bitcoin built on the Blockchain platform, and this is an excellent anonymous system. That is why the use of Bitcoin in money laundering. In particular, you can use Bitcoin for a lot of services at the deep web and the illegal trade uses it as a form of payment.

BTC transaction are not tracable.So people use it to illegal activies.

because bitcoin is anonymous, and it's hard to track to find out who is doing it. there is only a wallet address, and I think the government will find it difficult to track it down.

Because any Internet-connected computer can make point-to-point bitcoin transfers, the flow of funds depends only on the network and does not need to be through third-party agencies such as banks, so it cannot be regulated at all.
So BTC is used by many people for illegal transactions!

Because Bitcoin or cryptocurrency uses technologies like Blockchain. They can hide all personal information of the user. Bitcoin cannot be controlled by banks or governments when transferring money or doing anything. Criminals or Mafia gangs in countries like Russia or Japan have been using this method of money laundering for a long-time.

In fact, some people take advantage of, because Bitcoin is easy to make money laundering. Not only money laundering, but various kinds of immoral acts happen in the middle of it. Because it does not have any identification of donor and recipient. The reason for which is easy.

Money laundering is a problem in general for governments. Bitcoin is just another conduite for it to happen. The big advantage that Bitcoin has is the anonymity and security of transactions. Unless Bitcoin is centralised and controlled (which by design it can't) then Bitcoin will be a popular choice for money laundering.

Because bitcoin deals are anonymous. You will not know who you are dealing with. Criminals have taken advantage of this disadvantage to money laundering. There are a lot of uses of bitcoin to wash illegal coins.

In its use, Bitcoin has privacy for its users. And again Bitcoin cannot be regulated by the government of a country. It makes sense why many people are not responsible for using Bitcoin for money laundering.

Not much privacy, really. Using bitcoin you are constantly leaking vital information such as IP addresses, photos and video in CCTV, KYC here and there, usernames and email addresses where KYC don't apply, all those electronic traces make it really easy for a dedicated law enforcement officer to track you down. If they want hard enough.

the reason is simple, because it is untraceable, no one knows who owns the wallet that most of the huge funds of crypto is, with such feature it is giving people the impetus to use it for shady deals and money laundering

There is a simple answer to this question. Bad people will always try to exploit everything for their benefits. People like them are the reason some people call for the ban of cryptocurrency. I hope that the authorities find a way to stop such actions in the future to maintain the integrity of cryptocurrency world.

All because the bank has more connections. That's life. Connections and money solve a lot. And I think that bitcoin has nothing to do with it. It's different.

Clearly the primary reason is on the grounds that bitcoin is way less demanding, less expensive and furthermore its harder to follow than utilizing managing an account framework.

Why wouldn't they? It's a lot easier than most of the traditional methods such as casinos imo.

People use bitcoin for money laundering it because bitcoin is a good strategic for money laundering. It really hard to track and if tract the transaction you wont able to know whos addres is that why this is the best strategic

I don't really think it's a "need". People use bitcoin because it's a very useful option for money laundering because of it's anonymity. It will be hard to go after money launderers at this time.

money laundering came about before Bitcoin and will hold lengthy after it, at the same time as ever there may be a demand to move cash illicitly then a person will find a way to facilitate it, Bitcoin is simply every other channel-admittedly a greater state-of-the-art and possibly at ease technique.

Clearly the primary reason is on the grounds that bitcoin is way less demanding, less expensive and furthermore its harder to follow than utilizing managing an account framework. Eventhough you can followed the exchanges and the exchanges are recorded, you can never now who possesses it, somebody can have in excess of 100 deliver to flow and shroud exchanges amongst accounts and when you know which one is the correct address, the measure of cash inside as of now been exchanged to elsewhere.

People use Bitcoin to clean their money because Bitcoin removes banks from transactions. It also maintains information security for users and goes beyond the management of all state management systems. This makes trading activities easier. And illegal actions can also recognize this vulnerability to exploit exploits.

Since bitcoin is decentralized, its ability to be traced would be difficult and this is one of the best way on money laundering. Thus, the money could be impossible to locate given that once the transaction has been committed then the information of the sender and the receiver is anonymous.

Bitcoin's anonymous nature can be used by anyone, without exception. this is exploited by criminals for money laundering. Because of decentralization, almost all countries also hate it. I believe it is more dangerous if it is not regulated rapidly globally. It has side effects that prices may fall deeper but will find a way to be clean from dirty hands.

It seems to me that, All people can use Bitcoin even a students, employee, housewife, teenager, adult or a person with disable . There is no requirements for all of us to use it as long as we have a gadgets like phone, laptop or personal computer still we can use it. We are all anonymous here so we did not know who is using bitcoin in laundering or frau, it conscience if we are using bitcoin for bad purposes.

Now a days as bitcoin become familiar to the peoples they are trying it to use according to them bitcoin is used for the money Laundering because you just have to pay the transfer fee on time and in that one time you may transfer how much you can the transfer fee has no effect on it with the transfer fee.

Since bitcoin is a decentralized cryptocurrency, then i think it's just a very good tool for money laundering and not only for money laundering but for some other criminal acts that involves money. Because of that, other countries feel that they are intimidated by cryptocurrencies that's why some countries declare a total ban of cryptos.

Although investments value of bitcoin outweigh its  status as a currency does not mean bitcoin has failed entirely in being a currency. For bitcoin to have withstood all the backlashes, especially form this year and still exist should tell you that bitcoin is just very near to being accepted as normal currency + thus its popularity for laundering.

Of course, because Bitcoin is anonymous, we don't need any ID or type of identification or personal information to get Bitcoin, making it easier for anyone trying to hide their tracks and escape paying taxes to the government, or laundering illegal money. However, this is not true, because according to research, Bitcoin has been used for illegal purposes in no more than ten percent of cases due to anonymity

Because of its anonymity. Today, when the legal system is not tight, ICO scams, garbage, rampant, uncontrolled. This is an ideal environment for money laundering criminals.

I really do not understand what your saying!
Bitcoin and altcoin are currently very good to buy on investment

As each coin has two sides, bitcoin too have two sides, inspite of being so useful and providing employment to millions of people around the world, also have few dark sides like we all know that bitcoin is a decentralised crypto currency and there is no such proper authentic regulating body over bitcoin who could keep eye over all the bitcoin activities and thus leading to many illegal use of bitcoin like in selling drugs, explosives, money laundering any many more and also bitcoin transactions doesn’t involve any third party seizure so no third person can see the transaction between two and thus being used in money laundering.

We all know that bitcoin is a decentralised crypto currency and there is no such proper authentic regulating body over the bitcoin who could keep eye over all the bitcoin activities and this this defect is misused by some social defaulters as in many illegal activities like in selling drugs, explosives, money laundering etc and also it transactions does not involve any third party seizure thus no third person could see the transaction between two and thus bitcoin is exclusively used in money laundering and other illegal activities too.

There's always double standards when it comes to the law and especially when those 'white collar' criminals tend to get little or lesser punishments or can even buy their way out of jail, but I think these cases are a little different for a couple of reasons and I don't think Ross was treated harsher just because he was using bitcoin. Ross created a site to directly facilitate the sale of drugs, not to mention he was also charged with money laundering I believe. Selling drugs is always going to get you more jail time than money laundering anyway, but I think they gave him a very overly harsh sentence just to make an example out of him. He was also charged as a drug kingpin as well I think which comes with a more severe sentance. It will be interesting to see how much time El Chapo gets when his trial gets underway shortly. If it's less than Ross' then that really will be a huge double standard. He will probably also get life though.

bitkoyn becomes too popular and too risky for criminals, so they switch to more hidden cryptothermia. Bitcoin is only one of the currencies, and if bitkoyn does not exist, there will still be people laundering money. People will always find a way to launder money. although I do not think it's very easy to launder money with bitcoins, This is because bitkoyn is a decentralized currency that does not belong to banks or financial institutions.

Bitcoin is harder to be tracked by the government.

Currently, bitcoin is less commonly used for money laundering. There are other coins that are more anonymous and convenient for this purpose.

Because bitcoin is a money laundering tool that is truly perfect and good for use. Especially in the investment sector it will make you profit.

Basically, peoples aren't going to have the need for Bitcoin to try and do almost any sort of dollars laundering. Many people simply just view Bitcoin to be a good choice to hide your money many people laundered due to the fact not many could imagine that this laundered dollars were being transformed into Bitcoin likewise persons can potentially obscure the connection to some sort of Bitcoin billfold.

People use bitcoin to launder money because there is no way of tracing the money to them offline.
This is due to the anonymous structure of the blockchain technology.
People now leverage off this weakness to perpetrate criminal activities.

Of course there are ways of tracing people, especially if you're not careful. Bitcoin isn't entirely untraceable, especially if you don't know what you're doing fully. Remember, bitcoin is an entire public ledger of every transaction that has ever happened and many people have been caught using it for dodgy things. I remember reading a story a while back about one of the owners of a big pirate torrenting site was identified by the donation address he used because he sent the coins straight to his own personal coinbase account in his own name and that was one of the big pieces of evidence used against him at trial.

When you launder money using banks , it can be easily traced to you.....but same cannot be said , when one launders using bitcoin.
So its common sense to use bitcoin since no one can trace it back to you and so the fear of being caught is eliminated completely.
That is the major reason why people prefer to launder money using bitcoin.

Bitcoin can be used anonymously. I think this is a downside that criminals can take advantage of.

Not just in laundering that Bitcoin is used. As of now, compared to the past years, Bitcoin community is truly on its growth and continuously growing which make our future. There are different kinds of things where Bitcoin is already been involve. In the future, Bitcoin has a potential that will become the payment method throughout the world.

Due to the anonymity of bitcoin, people are taking advantage to hide their illegal transactions using bitcoin. Imagine, we can store billions of our money in different wallets without the knowledge of other people even the government. This is why BTC always be the subject or a tool used to have money laundering.

People need to use bitcoin for every vital purpose and specially for money laundering because it is the most safest way to transfer and no one can identify.

that's why the government banned bitcoin in its country because bitcoin can be used for crimes such as money laundering, the government cannot know the use of bitcoin and they also cannot know who is using because it is difficult to track it

I think you don't need to worry about such ways of money loundering. It will be in every times, because of people nature. But bitcoin is not the best currency for money laundering. Zcash or Verge is much better for this goal.

I think people need to use bitcoin for every vital purpose and specially for money laundering because there is no way of tracing the money to them offline.However BTC always be the subject or a tool used to have money laundering.

Because no one can track the existence of bitcoin and it makes criminals use it by washing money with bitcoin. Maybe this is a thing that is often done if we know bitcoin deeper because no one can track.

People use bitcoin for money laundering crimes because bitcoin offers advantages in terms of anonymity. We can transact with bitcoin with anonymous names so that when we use bitcoin for money laundering, our real identity will not be known.The currency has also been associated with online drug sales, money laundering, and sex trafficking.

When there is something gives you the ease of accessing automatically people's attention will turn towards it.The network is decentralized and everybody can see the transactions done on this network. It is easier to trace transactions made on this network.

Money laundering, like other crimes, can use IT. And businesses that use IT and use virtual currency are prone to be infiltrated. Criminals are always looking for patterns, ways. So if it's more difficult, the more complicated, he will go in there.

Bitcoin is the best way for money laundering since third party is not involve in the transaction. There is a law slogan that says judiciary is the last hope of a common man but we can all see that the reverse is the case. There is always high level of injustice.

And the bitcoin ban was ineffective, even as a joke to those who wanted money laundering and crime, government can not do anything to stop bitcoin, they are helpless before bitcoin and that is why many people continue to use bitcoin to launder money. Bitcoin is truly the perfect product for money laundering, value, shipping speed and security, all beyond expectations but it is also the wall that prevents bitcoin from coming to legitimacy

If a scandal erupts with the bank, all participants of the economy bear losses – the government, bankers and the most terrible, ordinary people. It is therefore easier for governments to gloss dirty themes than to undermine the region's economy.

Truth be told people used it for money laundering because itdoes not show location and the senders details ..
Money laundering flourished with Bitcoin because it doesn't send details of the person sending and details of the receiver and country...  With that people like using it because of privacy

The main reason for Bitcoin as a money laundering platform is its inherent anonymity and lack of supervision. The limited customer information obtained from cryptocurrency exchanges makes it easier for criminals to hide their illegal activities and illegal transactions.

Bitcoin trading information canbe hidden in a variety of ways, creating barriers for those trying to track the entire dirty trading chain. The Bitcoin blender combines transactions to effectively mix stolen coins with clean coins, but there are currently some security analysts working on smashing money laundering tools on these bitcoin blockchains. In addition, transactions completed on the TOR network are also difficult to track because the IP address from which the transaction originated was hidden.

actually it's simpler than supposed. governments do not want a currency other than their own control to dominate the markets. This is why the news is exaggerated.

 Because Bitcoins are not linked to a person’s identity and only depend on the private key connected to the Bitcoin account. Since Bitcoin is a decentralized network, there is no central record-keeping mechanism that governments or financial institutions can after.

I think it is because that it is hard to track the perpetrator hiding in the dark web, the transaction of bitcoin is anonymous so it is difficult to hunt them down. Bitcoin is the new digital cash and is famous now and most of bitcoin holders are not that tech savvy, they are easy to get victimized by the scammers.

I think because it is easy for them to use, unlike fiat money they could easily being tract down when they see you holding on it.

 you are doing transactions with bitcoin the users may not necessarily give you  their true identity. Usually if there is a malicious intention, his wallet is not exposed on the internet.

When people want to stay anonymous making the money operations (including some money laundry), they often do it with the help of Bitcoin and some other popular cryptos.

In my opinion,bitcoin is being used for money laundering it is because transactions are anonymous. No need for identify to any transactions.

Money laundering in real cash/fiat money all over the world is very widespread on the world now,all government launders money for their own uses which ending up them being tracked up and penalized for it.Bitcoin is a asset where its anonymous,you can easily change ip addresses in every transaction you make and there are no rules or condition on bitcoin transaction where it must not be used in illegal activities which ended users using bitcoins to launder money because its not easy to track people on bitcoin blockchain

Although many of the characteristics used by criminals to take advantage of, Bitcoin is still the digital currency that investors are looking for with great potential and profitability. Bitcoin money laundering accounts for only a small fraction of the transactions made each day in the Bitcoin network.

It is the place where people like to invest and here can also be used as a place for money laundering by bitcoin miners. Because here is the safest place for investigators and safe money while in a bitcoin wallet.

Since bitcoin can go anonymously, most of the people see it as an opportunity to scam others and do money laundering for some people. Bitcoin, for me, considered as a mainstream thing of our society and because of that many people are starting to be involve in here resulting to the tricksters use it as a way to get what they want in a bad way.

I guess there's a clear enemy line against regulated and unregulated.

Banks as we know are regulated by the governments, there lies an undeniable co-existence of banks and governments due to taxation. So i guess, there's a much wider consideration when a bank is involved in dubious dealings more than bitcoin related incidents.

And as bitcoin remains unregulated, that same consideration can never be expected i guess. The full force of the law shall be imposed always because there lies no mutual benefits.

Probably because the Bitcoin Network is not controlled by any state agency, it is completely free and Bitcoin owner information is completely anonymous so criminals prefer Bitcoin to money laundering.

Perhaps there were some other details but the Bitcoin involvement?

Money launderers historically have far outstripped the efforts of regulators, law-enforcement officials and anti-money laundering (AML) professionals who try to stop them from circumventing the law. Fraud examiners should seriously consider what the future of money laundering involving bitcoin might look like so they can close the gap between the good guys and the bad guys.

For small amounts, this is just perfect :)

Basically, the handy feature bitcoin has that's really attracted a lot of money launderers is the anonymousity of bitcoins. It can be sent without it being traced by anyone. No bread crumbs, no problems, right? But the thing is, you have to exchange it for cash so it still imposes a lot of problems for money launderers.

because bitcoin is very safe for money laundering, it can happen because bitcoin cannot be tracker, because the way to make a bitcoin wallet is very easy and can be made in large quantities without using any identity.

The one who launders huge amount of money will face issues while cashing out their money but the people who don't want to pay taxes cab use bitcoin for this purpose and they can create multiple bank accounts to cash out their bitcoin without paying any certain taxes.But the government needs to regulate the usage of bitcoin to save the government from tax frauds or in future more and more people will start to use bitcoin to get escaped from taxes.

One thing we have to get and set straight is the fact that governments are not particularly out to destroy Bitcoin or they are against it per se, what they are against is the money laundering which could be tagged as corruption and the terrorist activities is could help finance without anyone knowing or tracing the payment methods owing to its decentralized and volatile nature. With that, Bitcoin would be used to laud public funds. With other national currency, you CAN actually do it without being found out at first, however, if honest persons are in place, with time, the person could be fished out. It's not really the same with Bitcoin. Once laundered, it's gone.

It is because the cryptocurrencies are decentralized and no central organization that is aware of all the transaction that is happening and the transactions are anonymous then some criminals used it to do their illegal activities. That is why here in our country, our government wants to regulate the cryptos for the protection of the people and the financial system.

Bitcoin and cryptocurrencies have become the most effective tool for money laundering because it's decentralized. You can do dark transactions as many as you like while your identity is completely concealed. Thus, it gives money launderers confident to do whatever they want.

Most of those people like bitcoin because of the anonymity of it and this makes it very convenient for them to loot money and move it around without stress

It is highly easier to us bitcoin for money laundry than fiat currency. Bitcoin can not be traced to anybody aside the wallet that will shows it. But fiat can be easily traced to whoever own it.

simply because many people are evolving too . since most of people worldwide use the internet and many do invest online bitcoin is an online money where they can easily steal money from people from creating fake sites which will make people trap to their scam investment platform . I guess we must be very careful in investing online since there are lots of hackers in the internet

the answer is one, why many people is use bitcoin for money laundring, because bitcoin is anonymousity and untrackable, if the criminals want to move money from a country to another country directly they can use bitcoin because its untrackable and anonymous

For the same reason they need to use companies for it, to try to avoid detection.

So far they probably had a decent level of success with it, especially because of those services who mix your Bitcoins between multiple transactions so it's not clear from where it really came from. I even saw people who offer a stupidly low amount of dollars for an ID and Passport pic and there is people competing on being the one who gets picked for that. For this reason it's so easy.

As Blockchain gets developed and understood better, it might be a lot harder for people to hide while doing those thing of transactions. Nothing is a 100% accurate measurement when it comes for security though, but doesn't have to be that easy.

I think the user has been using illegal, completely unrelated to bitcoin or crypto. If someone uses it for illegal activity it is dangerous. Legitimate use it as well.

Just because transferring money through a bank could be impossible at times because many banks have some anti-money-laundering mechanisms in place and they simply cannot transfer money without sufficient proof of its lawful origin. Bitcoin, unlike banks, doesn't require anything to transfer as much money as you wish with minimal fee at that. So, why shouldn't they use BTC?  8)

for me that's not the problem because for me only helps bitcoin for people. Because people actually do wrong because because of the poverty of their country because of the government who abuse the poor People have criminalized money laundering.

Criminals can use Bitcoin like collecting ransoms easily and without having to reveal their identity. so most of them make money laundering using Bitcoin, Bitcoin is safe and anonymous, so they will put all their money into Bitcoin.

Yeah anonymous bitcoin facilities are right to use as money laundering because they very easily remove traces of their wealth in bitcoin, thats why the government is very afraid of these possibilities and threats. you know the continuation, they definitely forbid bitcoin.

Because bitcoin is a decentralized cryptocurrency, I think it's just a very good tool for money laundering and not just for money laundering but for some other criminal acts involving money.

The decentralization makes a bitcoin powerful and attractive to the investors. This feature attracts criminals too and gives them a chance to launder their money. There are 2 sides of one coin.

the reason they use bitcoin to do money laundering in my opinion is because it is anonymous bitcoin, so the identity of the bitcoin owner is unknown, and this makes bitcoin worse in the eyes of the global community

People have been using bitcoin for money laundering since form very long. They are using it because it remains anonymous as well as no one cannot able to knows about the owner's name. That's why people are still using it for money laundering.

I think that crypto is using for every thing if we talk about the money laundering or terrorist attacks then the first name comes bitcoin and crypto and it is not the problem of crypto but people if use it we should use it for good purpose.

I have heard cases where government official were involved in using Bitcoins it's just that they don't want common to people to get into, since it would be harder for them to track and tax.

Indeed Rashid. There is a big distinction between money laundering and bitcoin being used for illegal activities.

You see, money laundering is illegal money sent out in concealed transactions (usually overseas) so that the money comes out clean in another form of fiat currency and then used to purchase legal property and assets or simply spent legally. Whereas the issue with bitcoin is not illegal money (unless of course if the money used to buy bitcoins are from an illegal means), rather pseudonymous transactions that are then used for illegal activities.

As sad as it may be, these are part of any cash system, even if we go back to bartering, activities as such will always spring out somewhere, somehow.

Well ... I do not know all the reasons, but I've heard about such a funny thing ... in general in some countries (even today) bitcoin is ... nothing. Really. Somewhere at the legislative level, this is money. Somewhere it is considered property. And in some countries, crypto-currencies are not something at all. Therefore, you can transfer money to "nothing" and already by law you are clean.

Bitcoin is easy to use for money laundering never anyone trace and doesn't know that who is the owner of bitcoin. Bitcoin is a most effective tool for the money laundering because of its decentralized and untrackable.

Well, we can say that Bitcoin is a very accessible platform for the criminals to take advantage and made this as a way for them to gather more and more money who will catch up to the bait since Bitcoin supports anonymity and we can say that criminals these days doesn't come only having a knife, it comes with an excellent ability with regards to technology so double safety must be practice.