[2016-12-28] Moneycontrol: Can you launder black money using bitcoins?

Can you launder black money using bitcoins?

http://www.moneycontrol.com/news/business/can-you-launder-black-money-using-bitcoins_8171141.html

The rise of digital currency bitcoin has led to an air of mystery surrounding it, thanks to its complex nature. After the government's landmark decision to demonetise Rs 500 and Rs 1,000 currency notes, those hoarding black money have tried their hand at various ways through which to convert their ill-gotten stash. In fact, in the immediate wake of the decision, prices of alternate asset classes such as gold or real estate shot up in the gray market to the extent of which unscrupulous jewellers or developers could back-date purchasers and pass off old notes having being used to buy assets in the past.