Money laundering via BTC

[uneng]

Isn't it difficult to buy BTC right now that you have to submit data for KYC?
Once your wallet is linked to someone's wallet even if you do it outside a platform then it's linked to someone. And when regulations are tightened, tracing wallets and accounts may just be easy for authorities like IRS that's been trying to crack XMR.  

Yup it's almost impossible. Earlier it was possible using tax heavens as exchanges located in these countries even after KYC didn't use to share the details of users with countries even on requisition but now things are different all countries have bilateral agreements with these countries and therefore there can be easy sharing of information in cases of tax thefts, money laundering and other illegal activities. Technically OP would be at too high of risk not only can his such assets be confiscated but a penalty and prosecution depending upon laws and amount can also be initiated.

Even if he used the methods you mentioned it wouldn't be safe anyway. Bitcoin is traceable and sooner or later police intelligence can track the money and discover where it is. Then it becomes really easy to make the inverse way and discover the source of the dirty money. It's funny how criminals think they can use bitcoin for their activities just because the mainstream media keeps spreading new of events like this.
But actually I would say it's even harder to use bitcoin for money laundering than fiat, as it is just paper, not traceable.

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[Josefjix]

Some would suggest bitcoin mixers, almost all exchanges that you can trade your coins to fiat are requesting for strict KYC. I'm curious why you'd want to launder money that doesn't belong to you through bitcoin when at the first instance you don't know how to operate what you are planning to use as an escape route except you're an agent of the FBI. With this much said, you can launder money through bitcoin if you so wish to spend it only on bitcoin, but when you make selling to fiat you'd be apprehended in no time.

[YOSHIE]

How long someone will keep money from corruption / haram by buying Bitcoin, 2,3,5,6 or one year law enforcement will find out through the bank account that you have.

Everyone wants to accuse Bitcoin as a form of money laundering, the fact is that it is false and untrue, no one has got real money and stored in Bitcoin, not to mention the risk of the price of Bitcoin going down.

Someone who does corruption will not keep their money in Bitcoin. All Bitcoin transactions are processed with the Bank. Over time, it will be known where the money is generated, Corrupt money tends to be used in the form of laundering such as: valuables that are easily moved from one place to another, such as: gold, Bitcoin cannot be a source of money laundering.

[Samayuki]

It depends on how smart you are, there are few mistakes one can make when buying bitcoin with large amount of money, first is going to centralized platforms to buy bitcoin when you will need KYC to make the purchase successful, the best way to buy is through DEX or P2P, doing this leaves no track behind, also when you decide to  for Fiat do not use KYC verifications platforms

[Harlot]

It's not easy to launder money in Bitcoin anymore even if you transfer it via mixer you are still gonna liquidate it in fiat currency which the authorities will definitely question where it come from. Authorities always track the movement of your money especially the taxing department you have and aml compliance department you have. Coming from a unknown Bitcoin transaction and then converting it to fiat currency will definitely make your fiat currency more suspicious to them.

[AlexStory45]

The purpose of money laundering is to take some illegal income stream (drugs, prostitution, whatever) and make it look like legitimate, legal income.

Or to think about it a slightly different way: to figure out how to pay taxes on illegal income so the government doesn't throw you in jail (or look more deeply into how you are paying for all those lambos and vacation houses) for not paying your taxes.

So is Bitcoin useful for doing that? Well... maybe. You would have to first figure out how to convert the illegal income stream into Bitcoin. Then what? Use the Bitcoin to buy stuff... and your government is still gonna want to know how you can afford all that stuff when you paid almost nothing in taxes.

Best way to cover your tracks would be to claim you bought the Bitcoin way back in 2010, when it was really cheap. Declare a big capital gain, pay the 20% (or whatever capital gains taxes are in your country) and enjoy life.

You'll want to run your Bitcoin through a mixer (like Samourai Wallet's whirlpool) before spending them just in case the tax authorities try to trace where they came from.

[hv_]

Just don't do shit

https://coingeek.com/ethereum-researcher-virgil-griffiths-trial-to-start-in-september-2021/

[skyline65]

Well to be honest , there are lots of consequences in this subject. If we see , yes it can be use in money laundering because one one can track the transaction . And on the other side is bitcoin is limited , so as we all know the price always increasing for the rear or limited subject. So thats good to invest and be touched in cryptocurrency but we should not use for illegal uses. It will be better for the crypto community. Otherwise some strong rules will be imposed on crypto currency.

[hv_]

https://craigwright.net/blog/law-regulation/bitcoin-and-tax/