Cryptocurrency to be used in Money laundering and Terrorism?

[Mike Mayor]

This is what people and the government say when they want to go against and attack cryptocurrency. It is an agreed upon fact that even before the existence of cryptocurrencies, money laundering and terrorism has always been a major crime, so cryptocurrency is not what is being used to foster these crimes. More energy should be focused on the crimes to tackle them, rather than spreading negativity on crypto.

But still, we can't deny the fact that some of the cryptocurrency users today are using crypto in different illegal activities. It is one of the realities we need to face. And as much as we hate to hear it because it makes such a bad image to bitcoin and other cryptos, it is really happening now. The criminals, terrorists, and drug syndicates are also adopting the use of this kind of technology to make their transactions at ease and their identities are hidden.

Because of that, we can't blame other people to think negatively about crypto though this issue has the same principle with our own money (fiat). It's also use for this kind of stuff, and yes, even before crypto has been invented.

Money is not actually a bad thing. It only becomes bad when it is used for illegal activities. It's the reason why money is defined as the root of all evil, but it is not the evil itself, it's the people who are because they choose to use it that way.

Currency is neutral and can't be good or bad.

You actually can blame people for being ignorant it takes 5 minutes to do research on any topic in today's world. We have a library before our very eyes and in this age of knowledge and technology, there is no excuse for ignorance of any kind.

Thinking crypto is being used to fund terrorist activity is pure paranoia and is ridiculous. Just looking for a place to pass the buck.

99% of the cryptocurrencies aren't even big enough to be able to cover transactions of a single super market let alone want to be used in money laundering and terrorism that are handling billions of dollars at a time. not to mention that majority of altcoins are indeed shitcoins that lose value in a blinking of an eye. no money launderer would ever want to suddenly lose a huge percentage of their money.

they still stick to using USD because it is the most reliable currency for illegal activities with the most stable value.

Exactly thank you. They go on and on about money laundery but have such low withdraw rates. They want to control us not protect. People who launder money do so in massive amounts not the amounts we trade in.

[1714737574]

1714737574

[1714737574]

1714737574

[1714737574]

1714737574

[1714737574]

1714737574

[ecnalubma]

Not a surprise that cryptocurrency could a be tool for illegal activities but for how long due to the fact that cryptocurrencies can be trace and its more transparent than banks. So I guess criminals and launderers will refrain from using it in the future.

[jayc89]

The security check procedure that can be gotten Fromtge usual money transaction has made money launder are vices look the way of cryptocurrency but still I there would be father measures put into cryptocurrency

Bitcoin and any other currency is a tool that is used to fund whatever purpose is needed just like the regular money.

[upyem2k]

The same I was thinking about some days ago. There is nothing positive without its own negative side. Cryptocurrencies most especially bitcoin and ethereum will make it so easy for financiers of terrorism to move funds with no trace and money laundering will become so easy and untraceable.

[Greed Dev]

Before the advent of cryptocurrencies, fiat money was still used for illegal activities like money laundering or terrorism ... I think this problem is not entirely due to the appearance of electricity money. While this has been happening for years, all transactions are anonymous and it's hard to control so the government doesn't like it, so they think cryptocurrencies are bad or illegal. I know cryptocurrency has many shortcomings but you can't deny the positive values that cryptocurrencies bring.

[tungaqhd]

I also believe that cryptocurrency has nothing to do with it, since terrorism existed and was funded long before the appearance of this currency. In fact, any currency can be used to finance terrorism.

I know of any currency that can support money laundering and terrorism, but in terms of features and security, crypto is probably the most appreciated when it creates anonymity and security for participants, the scope of crypto operations is not in the control of banks and governments, it is easier to want to launder money and support terrorism. But I also won't complain or blame crypto when the purpose for its use depends on the users, bad guys are people who want to take advantage of its features to commit illegal acts

[hashman]

I also believe that cryptocurrency has nothing to do with it, since terrorism existed and was funded long before the appearance of this currency. In fact, any currency can be used to finance terrorism.

Money laundering was popular for money years. Terrorism existed ages ago when there is no word “crypto”. You can finance terrorism with many different ways, pay with usd or gold. Maybe valuable stones.
Crypto also can be a payment method. What crypto investors want? Accept crypto as a payment method is one of the aim.
By the way it is important the ratio of crypto at terrorism. 
I do not think so terrosit leaders using crypto regularly. 
If you wanna stop terrorism block usd and gold before crypto

[nutriagrigia]

The same I was thinking about some days ago. There is nothing positive without its own negative side. Cryptocurrencies most especially bitcoin and ethereum will make it so easy for financiers of terrorism to move funds with no trace and money laundering will become so easy and untraceable.

mainly for such cases anonymous cryptocurrencies are used but not BTC and ETH. anonymous cryptocurrencies are used in the darknet and that is why they now have problems and they are losing their positions on large/legal exchanges

[X-ray]

I also believe that cryptocurrency has nothing to do with it, since terrorism existed and was funded long before the appearance of this currency. In fact, any currency can be used to finance terrorism.

Money laundering was popular for money years. Terrorism existed ages ago when there is no word “crypto”. You can finance terrorism with many different ways, pay with usd or gold. Maybe valuable stones.
Crypto also can be a payment method. What crypto investors want? Accept crypto as a payment method is one of the aim.
By the way it is important the ratio of crypto at terrorism. 
I do not think so terrosit leaders using crypto regularly. 
If you wanna stop terrorism block usd and gold before crypto

USD is the most common ways for money laundering I guess, imagine a paper money that leaves no traces is considered safe from money laundering meanwhile blockchain which leaves traces forever in form of txid is deemed to be a money laundering vulnerable that's just wrong in so many ways.

Government should focus on solving the money laundering in their respective fiat or national currency rather than trying to make up a negative opinion regarding cryptocurrency while their traditional paper money is the one that's widely used across the globe.

[tonyja2017]

Perhaps this Crypto is a free market, there is no law. Because of that, bad guys can use these to launder money and terrorize. This is a huge problem for the market, perhaps in the future laws will be enacted to prevent these acts.

[Alexandr Kirichenko]

If you think about it, then you should not use cryptocurrency and you should not use the dollar and other funds. They are all used for this purpose. This topic has been raised so many times on the forum that I think many people only think about it. This is the reverse side of the coin of this technology, blockchain technology.

[JeffBrad12]

The government will never accept something that's out of their reach or that has no control to be a global money, just move on with that dream. These issues about criminality that tied up with cryptos is just an issue after all, onle really few cases found when criminality involves the usage of cryptocurrency.
After all, there's just no chance for crypto to be a global money if that's what you expected, even currently there's no such thing as a global money.
However, I do support the government only if they are really trying to fight against terroism funding and Money laundering properly by having regulation to prevent so other than blindly put the blame on cryptocurrencies which is rarely used for such a thing.

[gbale]

Now that is a challenge that must be faced, but that is not a strong reason for the government not to accept cryptocurrency as a method of payment in the future, the government must find a way to close the crime room by increasing system security, not just by rejecting it

[cytpoway121]

To be used seems wrong
There’s a need to fight money laundering and terrorism without involving crypto currency
Because before blockchain and crypto currency; all those stuffs existed

Maybe just some way to spread fud and cause panic

[Christinebeauty]

Everything that has an advantage also has a disadvantage. I don't know why the governments and other anti-crypto agencies are always talking about the disadvantages of crypto and leaving its benefits behind. Before crypto, there was money terrorism and money laundering so why are they behaving as if it was crypto that brought all these bad activities

[tanjiran]

The risk of using cryptocurrency as a means of money laundering and terrorism is indeed quite large, especially in anonymous and widespread transactions, it is quite difficult to trace ownership if done by a professional person. Well, it all depends on who uses it. Cryptocurrency has other positive benefits, investment and high-value trading commodities, many people already feel the benefits. However, just like in general, cryptocurrency has the opportunity to be a tool for a crime so the government limits its legality. This is nothing new, as long as we can still use cryptocurrency even though certain aspects are limited, it is not a problem.

[Akoldi_ibk]

Everything that has an advantage also has a disadvantage. I don't know why the governments and other anti-crypto agencies are always talking about the disadvantages of crypto and leaving its benefits behind. Before crypto, there was money terrorism and money laundering so why are they behaving as if it was crypto that brought all these bad activities

The problem here is everything that represents the good of cryptocurrency is at a disadvantage to the government. Even though these features are good from the perspective of a common man, they are anti-government and the government won't preach what will really set the people free from them. They prefer then to focus on just a single disadvantage of cryptocurrency and paint it all bad.

[cherryganda]

They are just making cryptocurrency a bad to the eyes of many people who dont have enough knowledge with cryptocurrency,
Even before that is happening and supported by FIAT and bank transfers, so there is nothing new!

[pixie85]

What is money laundering in the eyes of the governments is freedom in the eyes of the people. We should ask ourselves if going against the law is always a bad thing.

Why does the government have a monopoly over money production? Why can't people use their own money? If bitcoin was a recognized money tender its mixing would be money laundering. Isn't bitcoin money? Maybe we are laundering money every day without knowing it but nobody tries to put us in jail because they don't care enough about bitcoin and cryptocurrencies yet.

[jossiel]

Money laundering and terrorism even existed before the existence of cryptocurrencies. They were acting obvious to be against and discouraging people of using and investing to cryptocurrencies.

It's hard for the gov't to take this battle because the people now are starting to realize that crypto's are for those who wants freedom, to those that who wants their money on their own without the intervention of any gov't body. But that's the solution they can do, regulation.