Money laundering via BTC

[Cotton Candy]

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

Truly it is extremely conceivable that bitcoin can be utilized as a medium to so some tax evasion. In actuality, there are news that circles in the public eye that numerous individuals are being its casualty. Since bitcoin is an unknown and can't be regulate, individuals have a tendency to truly utilize it for tax evasion. Despite the fact that tax evasion is existed even before bitcoin, it simply increment these days.

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[Direwolve735]

Bitcoin as a tool for money laundering is losing its appeal due to the growing popularity of crypto currency as a speculative investment, as well as new methods of money laundering. More problematic technology - at least from the point of view of law enforcement agencies - is a decentralized exchanges. Darknet markets are also becoming more decentralized because of such platforms.

[denzkilim]

There are rogues everywhere in the world. Even in ordinary life there are deceivers from this will not get rid in any way.

Money laundering is existing because there are crimes everywhere.
The government is fully aware that crypto is one of the best way to launder money that is why we have to prepared for regulation.
They will do it to protect the investors and with that it will help people to trust crypto as its regulated.

Government regulations are good for the Crypto currency community and it helps people understand more about Crypto currencies and learn about this technology. Money laundering is expected on this kind of technology because criminals will always find a way to bypass government rules and regulations. When the majority of the government regulates Bitcoin and other forms of Crypto currencies the problem on money laundering will be lessened for sure just like in my country the only way to trade your crypto currencies to fiat is by doing KYC(Know Your Customers) Submitting documents of your identity in the exchanger.

[PM.coins]

basically money laundering is a way of escaping iron bars. it is a part of evil.
I do not think anyone can escape lies, there will be risks. it seems that it is inappropriate to imitate.

[digroske]

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

I think that many have done so for a long time already. Financial schemes of money laundering are huge and why not include in this process and the cryptvalut. I know people who deduce money on similar schemes

[polymerbatt]

It is very possible to money laundering money from corruption money or other criminal things. I think it's easy to money laundering money via Bitcoin, just buy bitcoins will all the money and then send it to bitcoin mixer and poof, there will hard to track where the bitcoin at.

[nesty]

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

Yes it can be used in money laundering specially bitcoin user or owners are majority annonymous it cannot be divulge the personality of the launderer except if they encash it into fiat and registered in different banks.

[Jay51]

It is possible to launder money by bitcoin. that's why some countries banned bitcoin. Recently I was reading an article in a newspaper that in India or Bangladesh I am not sure, But They banned bitcoin for this reason.

[thirdkiller]

Could be. But how you will do it? Are we talking about a black fiat then buying bitcoin? But first you would need to make the seller believe that you are using a legit money. It will be still hard to make it to bitcoin for those who will sell you the coins will still check your fiat money.

I agree with you because for your time it is unbelievable. I am done the interesting in people smiling one thing I only hope is the price in the future.

[Nolimitz84]

Why do you think that you can launder money only with the help of bitcoin? There are many ways how this can be done with fiat money. Bitcoin is another tool for bad guys but not the only one

[Lucy_bay]

I think even if we invest the illegitimate money into bitcoin, it will still be traceable by the authorities, because our account mutations are also in check still will be caught.
that's just my opinion

[Capradina]

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

I think it's pretty hard to do money laundering using Bitcoin, because every official exchange forces you to do KYC.

[sevenonetwo]

Yeah, it is possible to launder money through bitcoin. Bitcoin greatly ensures the security of its users so that if we do money laundering through bitcoin then the authorities are difficult to trace. The authorities are also unlikely to know the amount of bitcoin that you have because the controls are in your own hands. Therefore, I am very disappointed if this great technology is used for negative transactions that do not provide benefits. Money laundering will only cause losses so that public confidence in bitcoin decreases as well.

[lokanot0]

Bitcoin is like a utopia for money launderer's. Because of the one of the characteristics of bitcoin which able your transactions not to be traced back, I think this is the main reason why it is susceptible to money laundering.

[Bitknick]

To do this, there are many other coins using anonymity, but if anyone wants to launder money through bitcoin, then he will have no problems, there would be a desire!

[queenstella]

Bitcoin bypasses the banking system. It turns out that bitcoin is a terrible tool for money laundering. This is because bitcoin are not linked to a persons identity and only depends on a private key connected to the persons account. There is no record keeping mechanism

[Rebecca Bragaa]

Bitcoin is a money laundering tool for criminals because it has such great features as:
- Anonymity: Although transactions are public, the Bitcoin address owner is not explicitly identified.
- Liquidity: Bitcoin holders can quickly convert Bitcoin to cash, gold or other assets at extremely low costs without the need for a third party to process and process the transaction.
- Confidentiality: Almost every transaction inspection process is not applicable to the Bitcoin system.
- High value: Not affected if inflation occurs, Bitcoin prices continue to grow over time.
- Network connection: Bitcoin transactions are encrypted through the Internet. This is the stalking environment of hackers.

[qwerty12]

I do not think so. Satoshi Nakamoto created bitcoin with the principle of decentralization, transparency and privacy with high security. Bitcoin is a form of resistance to a central bank that often gives rise to corrupt or financial criminals due to the lack of transparency and the centralistic system of the banking industry itself.

[Oliveir]

There are lots of cases like this wherein they can put there money on banks instead they convert it to Bitcoin, and make movement through it. But officers and other officials are observing they are caught one at a time, so careful also when you earn big and careful when you cash out you might be accused--- be ready for your documents

[dark1234]

one of the reasons why many nations still have not legalized bitcoin because they do not want to be one of the money laundering investments for corrupt officials because they can not supervise the finances like my bank thinks this is one of the wrong assumptions because money launderers keep doing so many ways to make their money not detected even though bitcopin remains unlawful