Money laundering via BTC

[dansus021]

But would it really serve the best interest of the people, crypto is not suppose to be centralized, it should be anonymous, meaning no KYC for every transaction. The regulators can regulate exchanges but they can't regulate a p2p transaction, which means money laundering is still possible.

I do agree the main purpose of crypto is decentralized but as we might see money laundry via crypto would be easy. Its possible to regulate the big exchange to takedown the scammer but p2p usually do for small amount of money right

[1715252770]

1715252770

[shivamtrivedi9090]

Many people criticizing the cryptocurrency for Money Laundering. Many cases had seen of money laundering via BTC. But money laundering is still possible in the banking systems as well. And all of us had seen these cases as well.
Currently, the cryptocurrency industry has also been criticized for being a tool for money laundering, despite statistics stating otherwise. It is estimated that only 1.1% of all cryptocurrency transactions are illicit.  All we need to know the hidden truths of money laundering.
With the growing use of the Bitcoin network, 42 million Bitcoin wallets, and counting, it is becoming increasingly possible to track transactions on public blockchains, while private banking transactions remain hidden in plain sight.

[Viscore]

Many people criticizing the cryptocurrency for Money Laundering. Many cases had seen of money laundering via BTC. But money laundering is still possible in the banking systems as well. And all of us had seen these cases as well.
Currently, the cryptocurrency industry has also been criticized for being a tool for money laundering, despite statistics stating otherwise. It is estimated that only 1.1% of all cryptocurrency transactions are illicit.  All we need to know the hidden truths of money laundering.
With the growing use of the Bitcoin network, 42 million Bitcoin wallets, and counting, it is becoming increasingly possible to track transactions on public blockchains, while private banking transactions remain hidden in plain sight.

That's correct, in fact, money laundering as more cases using fiat and even moving  money from bank to bank, that's why the regulators are aiming to strengthen the guidelines in order to prevent money laundering.  However, criminals will always find a way to launder money, and they see crypto as the best platform to use and I believe if the government are really into their purpose which is to minimize money laundering, they should fully regulate the market.

The market will then be safer especially for investors as long as the regulars are doing their job in good faith.

[ololajulo]

Governments are using the cryptography research teams to track the BTC transaction, so Govs are very much aware of this and trying to stop money laundering through BTC.

Is it only the Government that have access to this tool to track BTC transactions? Not even the exchanges and security agencies?

[Ziskinberg]

But would it really serve the best interest of the people, crypto is not suppose to be centralized, it should be anonymous, meaning no KYC for every transaction. The regulators can regulate exchanges but they can't regulate a p2p transaction, which means money laundering is still possible.

I do agree the main purpose of crypto is decentralized but as we might see money laundry via crypto would be easy. Its possible to regulate the big exchange to takedown the scammer

Big exchanges are already regulated, name the popular exchanges in the forum now and search if they are regulated or not, I'm sure you'll find an answer that they are regulated.

but p2p usually do for small amount of money right

Usually, but there are also big amounts of trading in here, those who really wants privacy are using the p2p service as it's not regulated though riskier.