Bitcoin = Laundering

[Opquar]

As per Wikipedia:

Money laundering is the process of transforming the profits of crime and corruption into ostensibly "legitimate" assets.

If you got your coins legitimately then you are not money laundering. Of course, nothing is stopping central banks of accusing you of it if you are moving lots of bitcoins. You just have to prove that the source is legal.

[derekeaton]

Now there are few systems that support bitcoins, but behind the crypto-currencies the future. Some popular companies already officially support them. Soon the banks will have to accept it.

[Kemarit]

Some say that you cant claim or transfer your bitcoin to a bank because they will suspect you of laundering.

So if youre using Bitcoin, youre basically a laundering and a criminal

I just want to understand if its any different or just similar. Thank you

Even bitcoin has arrived, well in the last year since it has attracted a lot of people, Banks are already very strict about AML law. It will started as we all know about terrorist or drug cartels transferring huge amount of money around. But I don't believed that in your argument that if you are in bitcoin, we are all criminals. Banks will just ask so many questions and if you can answer them straight then I don't see any problems here. If you are afraid that you will be a suspect then why not break down your bitcoin transaction is small parts so that there will be no red flags.

[ruskytailz02]

just dont mind them and your own worth.. they say any words because they dont know howand what bitcoin works is
maybe yess it can besed in money laundering but that isn't the way to accuse anyone like that...
bitcoin have value so many people will get that and try to do that hehehehehehe thats why some people always think bitcoin is a bad in the eye

[Thanasis]

Some say that you cant claim or transfer your bitcoin to a bank because they will suspect you of laundering.

So if youre using Bitcoin, youre basically a laundering and a criminal

I just want to understand if its any different or just similar. Thank you

Bitcoin is legal in many countries if you want to convert bitcoin to fiat you just have to pay the taxes as per the riles from your government.Maybe they can suspect you but you can give the details about the bitcoin growth and from that your investments gives high profits.They can't take any action if you paid the taxes.
But i wanna say something why you need to convert that much big amount of money because if you keep it as bitcoin it will give more profits in the future.Someday will come at that day we can use bitcoins directly as a mode of payment no need to worry about the taxes is better to hold it as bitcoins.

[loews]

who cares about bank when you can put your bitcoins in a xapo debit card

[Denies]

Some say that you cant claim or transfer your bitcoin to a bank because they will suspect you of laundering.

So if youre using Bitcoin, youre basically a laundering and a criminal

I just want to understand if its any different or just similar. Thank you

I think you just swap it on the exchange does not need to go through the bank. I do not care what they say, basically bitcoin has many benefits and positive things on my personal life.

[BingoDog]

Some people are using bitcoin for criminal activities and to launder money (which is a crime btw.) but bitcoin is not criminal currency and not everyone is involved in that. Banks know that but some banks have negative exepriences with money laundering and maybe they have introduced some internal rules to monitor transactions connected with bitcoins but this is not a general rule and that doesn't necessary mean that you will have some consequences.

[jc89]

Some say that you cant claim or transfer your bitcoin to a bank because they will suspect you of laundering.

So if youre using Bitcoin, youre basically a laundering and a criminal

I just want to understand if its any different or just similar. Thank you

No that's not true and we should never generalize in any matters. The government might have their eyes on people who are involved in bitcoins but mostly they are looking for suspicious individuals. You will only be suspected of money laundering if for example you transact with a suspiciously huge amount of btc. That will be a red flag and then when they conduct an investigation and they found out that you have no financial capabilities, no documents to support the legality of your transactions that's when you will be suspected of laundering. And we have to remember that money laundering isn't isolated in btc but in any fiat as well. So let's not jump to a conclusion that if you are using btc you will be automatically guilty of money laundering.

[dothebeats]

How is transferring cash to my bank account not labeled as laundering when I don't tell the banks where it came from? Also, would the banks even know that I got my money from bitcoins when I deposit it? I think not, all they even care about is receiving money in their storages and nothing else. Last thing is you cannot deposit your bitcoin directly in the bank, so definitely they won't even know.

[DARKANGEL6415]

I want to hodl until the day we don't have to change back to fiat, where I can buy everything I want directly with crypto.

I like the way you are thinking about holding your bitcoins until such a time in the future. I must admit i know fiat will always be around. It is nice to know that i may some day walk into walmart and pay in pure bitcoin and not have to relly on third party debit cards.

[appleyard]

Some say that you cant claim or transfer your bitcoin to a bank because they will suspect you of laundering.

So if youre using Bitcoin, youre basically a laundering and a criminal

I just want to understand if its any different or just similar. Thank you

Why others changing their bitcoins to huge amount of money in one transaction. this is why money laundering act is more prone to bitcoin users. Getting huge amount of money without a legal papers is crime so better consult for a lawyer before for legal basis before transferring huge amount of money. 

[Fear]

If you earn Bitcoin legally and using Bitcoin for legal things, you are not a crime. Don't worry.

[Shenzou]

Laundering is used if the moeny is used for illeag activites, it is true that bitcoin provide its users with complete anonomys transactions, and the banks and goverments and banks can not track the flow of the bitcoin, and this created the perfect way for criminals to do their illeagal activities, so if you are not using the bitcoin for the wrong purpouses it is not considerd laundring, and laundering is not made just by bitcoin it could be used by any other mean, like gambling or investing in stock market.

[sindikat]

Governments and banks to make all bitcoin associated with criminal activity. The only people who are far from bitcoin can believe such nonsense. The most interesting is that never there are no concrete examples of what criminals used bitcoin. It's all part of the information war with bitcoin which was organized by banks. They understand that every user of bitcoin they will have one customer less.

[moooonu]

It not like how you think about bitcoin. Firstly gold was used to launder money from one place to another. Bitcoin itself is not legalized but have great potential as well as have its own value. Due to its anonymity its used worldwide for transactions.

[aoihs00]

Nope! You can sure shot provide the proofs of trading or any related business that you do. The question arises from the bank or income tax offices only if you are not filing your taxes on time and every time! So before they ask you any question you just fill up the income tax and be in the green zone. What they need is just proof that this money was earned by you and you grown it into more profits by trading or may be just by increased market cap just like the share holder. There are many things which are manageable and if you do it in legal way then nobody os having dare to touch your assets.

[paolo099]

bitcoin doesn't mean money laundering but it can be used easily to buy illegal stuff.
There was a nice documentary about italian mafia buying piece of art like painting, statue and old relics; in this way it's considered laundering but associate straight BTC to laundering it's stupid, it doesn't work like this and like for any currency, depends how you use it.

[alexzorgo]

First, for money laundering at first it is necessary to become the owner of large number of the traditional money earned with criminal methods. Money laundering implies concealment of sources of cash assets. And if you earned traditional currency by legal method, then you have nothing to be afraid. You will be able always to prove it. Secondly, the bitcoin is already legalized in some countries. For example in Japan and Australia. These are the advanced countries with advanced economy and the strict legislation. And in these countries the government doesn't consider cryptocurrency as means of laundering of criminal money.

[nambunamba]

dont think so its money laundry. bitcoin even make for minimize the fraud. just gain a lot profit doest mean its money laundering.