Money laundering via BTC

[marcbitcoins]

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?

Money laundering is the main reason of why bad people is joining this investment so that it could use Bitcoin in their self interest agenda as it could not easily track transactions and the owners before because of its Anonymity but with the power of regulation, these are all neutralize now but the demand for Bitcoin was affected too as these bad guys are part of the Bitcoin holders before.

[Natalim]

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?

Money laundering is the main reason of why bad people is joining this investment so that it could use Bitcoin in their self interest agenda as it could not easily track transactions and the owners before because of its Anonymity but with the power of regulation, these are all neutralize now but the demand for Bitcoin was affected too as these bad guys are part of the Bitcoin holders before.

We do not want to see the increase of demand because of the bad guys, if we want bitcoin to progress we have to make it useful for everyone.
Money laundering law is already here even before bitcoin's inception, and it's the duty of the government to track dirty money to trace criminals and their illegal activities.

[KorakPawon]

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 maybe this can happen because if you get money or hide money in the usual place in the bank, or at home it will arise a question, and maybe if by investing in bitcoin this might be repeated from the supervision of different authorities when it is imposed on the bank or at home, the risk is more frightening.

[yurekaa]

very possible if we or someone wants to do money laundering with bitcoin. one of the reasons crypto has not been legalized until now is that the government is afraid that criminals commit money laundering through bitcoin. Money launderers will be difficult to track because they use bitcoin for money laundering. Bitcoin users are very difficult to track because bitcoin users can fake their identity and bitcoin users are spread throughout the country. bitcoin can be traded in all countries so it will be very difficult to track.

[Yadamosan]

Yes, Money launder in BTC is more worth investment other than big company or a businessman because in Bitcoin or BTC is a legit Money and surely get paid not unlike other, BTC is a legit money launder and BTC is helping people to get paid on their salary easier and help people to get rich faster better than working BTC is powerful now bitcoin is our future investment for sure they have a chance that a country get 50% of their country are get invest on BTC someday.

[KrishaBitcoin]

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?

Money laundering thru Crypto is already applied and used by the people to hide their illegal assets before and for me this is the one main reason of why Bitcoin price become more expensive last year but unfortunately for this bad guys because the regulation is now strictly applied in every country to prevent this illegal activity that is why KYC is one of the requirements now to anyone who would like to join the Crypto.

[danipay]

Basically, all potential items are subject to large money laundry, dollars, gold and bitcoin.
But the bitcoin risks can be smaller if regulated by the state.

[alexcopper]

You can money launder for sure but just realize that there is technology that can trace this back to the owner. That's why exchanges and atms are hiring companies like ciphertrace for AML compliance.

[oseikuf44]

Using Bitcoins is the best way to convert dirty money from terrorism, tax evasion and other malpractices to a real money.That might be the main reason why financial authorities do not want Bitcoins to get to the masses.

[elisnrj]

Of course, I think bitcoin is a powerful tool for us to do money laundering by utilizing technological advancements. And this makes the government not like it, one of them is by creating a special field that discusses financial technology (fintech) and cyber crime (cybercrime).

[stadus]

Of course, I think bitcoin is a powerful tool for us to do money laundering by utilizing technological advancements. And this makes the government not like it, one of them is by creating a special field that discusses financial technology (fintech) and cyber crime (cybercrime).

They can't control bitcoin as it's decentralized, they need to stop all miners for people not to be able to transact.
It can be use for money laundering of course but they can prevent or trace it if they will push full regulation in the crypto space, that I am not seeing yet as  some countries still does not care about crypto, some countries even ban it but they don't see it's potential and on how their economy can be help with crypto.

The AMLC is the agency required to trace money launderers and they can do better with regulation as blockchain can be trace and its transparent.

[goaldigger]

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?

If you want to do something illegal, bad , or anything negative and you dont want to be traced then bitcoin transfer is the right thing to do that. Anything about it is anonymous but i dont think its still a hundred percent no trace at all knowing most of the sites and exchanges requires KYC nowadays.

[Naida_BR]

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?

If you want to do something illegal, bad , or anything negative and you dont want to be traced then bitcoin transfer is the right thing to do that. Anything about it is anonymous but i dont think its still a hundred percent no trace at all knowing most of the sites and exchanges requires KYC nowadays.

Still you can be traced easily. In your first deposit you have to do a KYC in order to convert fiat to crypto. This is a starting point to be traced.
If you want not to be traced then the best solution is to use a crypto that confirms anonymity such as Monero.

[uray]

I believe it is already been done not a single time and not only with the help of Bitcoin but also other main cryptos as well. And actually transactions are not really anonymous - if you have a private keys and a bit knowledge it can be traceable.

The people who did launder money with bitcoin can be traced in the future as it is a public ledger that has every transaction being recorded and no one can delete those and even with those kind of transparency if fools did launder money, then they will understand the situation they are in when authorities knocks their doors, i am not talking about privacy coins as they are meant to hide every transactions but with bitcoin it is an impossible task.

[Natalim]

it is very possible that bitcoin will become money laundering.
because the price is very high and makes bitcoin has a very high value.
and maybe people do money laundering for taxes they have to pay

Bitcoin can be use for money laundering, same with fiat, but the price is not relevant to it.
Why people use bitcoin to launder as they can mix the origin of transaction and make it untraceable, regardless of the price, people will still use as long as they can benefit on it. However, the government are already full aware of this, especially the AMLC, and in fact, lots of mixers have already shut down.

[imstillthebest]

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?

If you want to do something illegal, bad , or anything negative and you dont want to be traced then bitcoin transfer is the right thing to do that. Anything about it is anonymous but i dont think its still a hundred percent no trace at all knowing most of the sites and exchanges requires KYC nowadays.

Still you can be traced easily. In your first deposit you have to do a KYC in order to convert fiat to crypto. This is a starting point to be traced.
If you want not to be traced then the best solution is to use a crypto that confirms anonymity such as Monero.

first deposit does not require a kyc unless you are despositing a verry huge amount that is over on your accounts limit , that you should be the time that a site will require you to submit a kyc  . also , even without a kyc you can still be track via your previous transaction if ever you use common cryptos such as eth and btc and if you dont mix them using a mixing service . however your right that monero and other privacy coins can give you full advantage to hide your identity online 

[lepbagong]

Yeah, you're absolutely right. It is very much possible to make money laundering via BTC.
Thats some countries marked bitcoin as illegal.

Illegal or not, bitcoin may not be because only from money laundering, it is possible that the regulations available cannot yet place bitcoin as a legitimate tool. but it is clear that bitcoin is very vulnerable to money laundering practices, especially in developing countries whose autonomy is not yet ready to accept the progress of crypto development.

[alexcopper]

You for sure can money launder via btc that is why there are companies hiring AML compliant companies like ciphertrace to help track and trace any suspicious transactions

[yohananaomi]

You for sure can money launder via btc that is why there are companies hiring AML compliant companies like ciphertrace to help track and trace any suspicious transactions

If indeed there are companies that are in charge of and pay attention to bitcoin transactions that are misused from the results of money laundering, it is a very good thing and can make a ban on bitcoin transactions because of bad misuse can be reduced. because bitcoin is prone to be misused for things that are not good and difficult to track.

[Victorycoin]

There are a lot of way for money laundering but bitcoin is the best way among all the way of money laundering and for becoming favorite of bitcoin is one of the main reason is money laundering.