Money Laundering started with banks not bitcoins.

[Juggy777]

The people in Banking industry have long associated Bitcoins with money laundering, from calling it a bubble to linking it to terrorists money they did everything in their power to destroy bitcoins. Today it's been proved that money laundering happens due to banks, was happening before bitcoins came. Deutsche Bank has been raided for money laundering, and it's pertinent to note bankers from this bank had said bitcoins is used for money laundering. It proves that fiat money is and always will be used for money laundering, it's time to stop the witch hunt against bitcoins. #ItrustBitcoinsoverBank.

Link: https://www.newsbtc.com/2018/11/29/bitcoin-is-criminal-money-says-the-media-while-deutsche-bank-gets-raided-for-laundering/

[project_delta]

The people in Banking industry have long associated Bitcoins with money laundering, from calling it a bubble to linking it to terrorists money they did everything in their power to destroy bitcoins. Today it's been proved that money laundering happens due to banks, was happening before bitcoins came. Deutsche Bank has been raided for money laundering, and it's pertinent to note bankers from this bank had said bitcoins is used for money laundering. It proves that fiat money is and always will be used for money laundering, it's time to stop the witch hunt against bitcoins. #ItrustBitcoinsoverBank.

Link: https://www.newsbtc.com/2018/11/29/bitcoin-is-criminal-money-says-the-media-while-deutsche-bank-gets-raided-for-laundering/

yes it could happen anywhere; also everybody wants to cash out their money even after converting it into cryptos. This is just a way to stop people from buying bitcoin for their own personal gains.
Period.

[markovicmarge]

aww! the banking system had started way, way ahead of bitcoin.  do i sense "bitter" here? i guess the effect is really shakening so they want to use this as an excuse.  i am not buying it.

[Kakmakr]

Yes I also saw this on https://www.bbc.com/news/business-46382722 and I immediately thought of the same thing. They say people in glass houses should never throw stones and these Banks in their big glass buildings, should take note of that.

Bitcoin is a form of money and when people are connected with money or valuable items, some criminal elements find ways to misuse that money. Bitcoin cannot change these people or stop them from being criminals, just like Banks cannot stop these criminals from doing the same.

Blame the criminal, not the money. 

[supermine]

The people in Banking industry have long associated Bitcoins with money laundering, from calling it a bubble to linking it to terrorists money they did everything in their power to destroy bitcoins. Today it's been proved that money laundering happens due to banks, was happening before bitcoins came. Deutsche Bank has been raided for money laundering, and it's pertinent to note bankers from this bank had said bitcoins is used for money laundering. It proves that fiat money is and always will be used for money laundering, it's time to stop the witch hunt against bitcoins. #ItrustBitcoinsoverBank.

Link: https://www.newsbtc.com/2018/11/29/bitcoin-is-criminal-money-says-the-media-while-deutsche-bank-gets-raided-for-laundering/

Now people don't care about the banks,only the person who laundered the money will get attention but why it differs when it comes to bitcoin?

The money laundering was in practice before the invention of bitcoin too so the problem is with the people not with bitcoin.

[Olayinka225]

Yes money laundry started with the banks and will ever be in the banking sector. Moreso, bitcoin just came in compared to ages that the banks have been into existence and have been in this laundry of a thing. I can say categorically that money laundering is only done in the banks and not in cryptocurrency. #istandwithcryptocurrency.

[Dreamace7]

The banking system was in place long before bitcoin was created and we have been experiencing most of the menace they are associating with bitcoin. We this is just a baseless critical attack on a fast rising bitcoin

[Pursuer]

I sincerely believe that no actual money laundering have happened using bitcoin. maybe some small amounts by some unaware people but nothing real and major. not because bitcoin is not anonymous and traceable. and not because of its volatility, and not because of the public blockchain..... but only because there are a lot of ways that are more convenient and easy and cost a lot less than using bitcoin.

[Gloverwrt]

Money laundering, underhanded and shady deals have all been very common even before the advent of bitcoin ten years ago. So, there is no way it could have started with Bitcoin or become easier with bitcoin.

This are the common misconceptions people have about Bitcoin and it's utility.

Transactions made in the blockchain are immutable and transparent, so it's very easy to trace the movement of assets to it's final destination. With the banks you'd need, approval and the documents could be distorted or redacted.

[BitcoinHodler]

what banks have been doing only proves their fear towards bitcoin and also proves that bitcoin has been working more than fine in the past years that it could struck such a nerve and cause a mass panic among corrupted banksters who are the main target of bitcoin.

[Innerpumper]

The people in Banking industry have long associated Bitcoins with money laundering, from calling it a bubble to linking it to terrorists money they did everything in their power to destroy bitcoins. Today it's been proved that money laundering happens due to banks, was happening before bitcoins came. Deutsche Bank has been raided for money laundering, and it's pertinent to note bankers from this bank had said bitcoins is used for money laundering. It proves that fiat money is and always will be used for money laundering, it's time to stop the witch hunt against bitcoins. #ItrustBitcoinsoverBank.

Link: https://www.newsbtc.com/2018/11/29/bitcoin-is-criminal-money-says-the-media-while-deutsche-bank-gets-raided-for-laundering/

often the bitcoin as allegations of money laundering by a few persons. However, actual bitcoin bitcoin very useful, have a transparent transaction, in addition blockchain became the best means of media in developing technology with a range of ideas that is.

[Pab]

And it is still done by Banks
It is enough to watch last news about Deutsche Bank money laundering scandal
Bitcoin is to small and blockchain is to transparent for ML
ML is best banks source of incomes
Even if discovered penalty it is small compare to profit
Nobody is jailed for that
But better is to write about bitcoin ML than prevail true about banks fraud

[Indrawan77]

Exactly, far before bitcoin was created there are alredy people money laundering using fiat, but media and some party try to create unnecessary fud news to focus on the negative side of bitcoin, it makes seems like bitcoin is criminal coin that was created for criminal usage, bitcoin or fiat is just the medium, people not supposed to judge bitcoin or fiat as the criminal things

[dothebeats]

No matter how hard we pin down the banks on this one, still they will insist that bitcoin is the evil and they are the angels sent from above to alleviate criminality and protect the people's financial interest and such. They are trying to instill in people's minds that bitcoin is an instrument created solely for money laundering and will not do any good without looking at their own faults. How many times have big banks been raided and been charged for being a platform for money laundering and such?  

[krishnaverma]

It is true that allegations against bitcoins must have affected the growth of crypto but it would not long last as the allegations are false. If these allegations had any weight, then the effect would be lasting and it would have been concerning for the investors.

I still believe that banks and bitcoin can exist and grow together.

[kucritt]

many people said that bitcoin is the media that used for criminals send money, money laundring and anything else, in fact, that not true. there are many people that use the real money to do the criminals. not bitcoin and not cryptocurreny

[Tnt1971]

Yes very important information because I heard a crucial word money laundering which is directly involved with bank and banking system. Before invention of bitcoin money laundering is a common word..

[Amevalentine]

bitcoin is a fierce opponent so it's getting thrown rotten tomatoes.  bitcoin may fluctuate but i believe it will stay.

theft and robbers are no stranger to stealing money in banks and accounts and that has happened often since the first time my advice is to keep your account

[mOgliE]

Nah. There is a BIG DIFFERENCE.

BTC allows anyone to do money laundering. God I think even I made some money laundering without really looking for it (like a couple of 50$ transactions that weren't clean clean clean).

But banks only allow corporations, countries, governments... You see btc gives power to anyone while banks have the decency to just put above law the really important people. Not the useless common folk. 

[South Park]

The people in Banking industry have long associated Bitcoins with money laundering, from calling it a bubble to linking it to terrorists money they did everything in their power to destroy bitcoins. Today it's been proved that money laundering happens due to banks, was happening before bitcoins came. Deutsche Bank has been raided for money laundering, and it's pertinent to note bankers from this bank had said bitcoins is used for money laundering. It proves that fiat money is and always will be used for money laundering, it's time to stop the witch hunt against bitcoins. #ItrustBitcoinsoverBank.

Link: https://www.newsbtc.com/2018/11/29/bitcoin-is-criminal-money-says-the-media-while-deutsche-bank-gets-raided-for-laundering/

It seems to me you are missing the point, it is clear that whatever is happening in bitcoin that could be considered as something bad is happening in banks and in a much larger scale, what they are doing is to try to create a smoke screen so people do not adopt bitcoin and they are spreading all kind of lies to fulfill their goal, so for them this is not a contradiction they have known this from the beginning and they do not care.