Money laundering via BTC

[Tigerheart3026]

Money laundering possible and it’s happened in my country  when some of the black money smugglers were caught by the police i heard by tv news.

The governments of many countries did not legal it just to avoid these incidents. Btw there are large transaction have to through many legal steps that might be risky.

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[Ibrahim60]

Hi guys ! My name’s Dave.
ข่าวกีฬา
Is it possible to do money laundering via bitcoin?

Yes, It is possible to do money laundering by Bitcoin. Because bitcoin is a decentralized Crypto currency. Also no one have that power to trace it transaction. For this reason criminal or bad people use bitcoin for laundering their money from one county to another easily.

[lepbagong]

Hi guys ! My name’s Dave.
ข่าวกีฬา
Is it possible to do money laundering via bitcoin?

Yes, It is possible to do money laundering by Bitcoin. Because bitcoin is a decentralized Crypto currency. Also no one have that power to trace it transaction. For this reason criminal or bad people use bitcoin for laundering their money from one county to another easily.

Many countries are actually worried about this, because the corruptors will be able to erase their tracks when corrupt money is converted into bitcoin. and many things that harm the country can happen and can be done this way. However, the state can protect it with strict regulations to anyone who wants to buy and sell bitcoin to fiat or vice versa, it must go through institutions that have been approved by the government such as banks. where everyone who wants to join a government legal institution must have a local bank and if the transaction is large, it must be KYC first.
 
now it remains an institution that is not allowed to commit violations, otherwise it will still happen even though there may have been prior protection.

[gabriela1999]

Bitcoin is a decentralized Crypto currency, anonymously not controlled by anyone. This makes crimes love. Criminals take advantage of money laundering, smuggling from Bitcoin is what happens a lot.

[nikolastech]

So what if some financial institutions use cryptocurrencies to launder money . They will get a fine and then its over. Always goes that way, we seen it many times before in banking system. Nothing happens. Its buy the dip always is,

[Gheka]

Hi guys ! My name’s Dave.
ข่าวกีฬา
Is it possible to do money laundering via bitcoin?

Yes, It is possible to do money laundering by Bitcoin. Because bitcoin is a decentralized Crypto currency. Also no one have that power to trace it transaction. For this reason criminal or bad people use bitcoin for laundering their money from one county to another easily.

Indeed, bitcoin transactions only require us through online wallet addresses, which allows criminals who may be at great distances to exchange goods with each other, even money laundering by buying bitcoin then converting it into cash, from there their money becomes legal for use in a certain sense. But this method is probably rarely used as well because it requires trust from criminals, most of the time I feel that criminals love face-to-face transactions, instead of technology like bitcoin

[ardentvolcanoes]

Bitcoin is a decentralized Crypto currency, anonymously not controlled by anyone. This makes crimes love. Criminals take advantage of money laundering, smuggling from Bitcoin is what happens a lot.

It also happening with every fiat or any digital based money, it's just the image that's been trying to picture by those who are not believing or
those who are against to this system, decentralized if you are dealing with p2p but if you need to convert you still need to provide KYC mostly
in order to cash it out with your regular fiat currency. Criminals can use anything as long as they are capable to transact, and bitcoin/crypto is
not exempted.

[Vaskiy]

There is possible chance of making black money white using bitcoin, but this is highly limited. What the politicians and businessmen of different countries accumulate is a huge volume. Most of the buying and selling of bitcoin for cash is connected with banking. This way beyond certain volume of fund will surely get into questioning.

[Yatsan]

Money laundering is one of those issues that have been thrown against Bitcoin at the first years of its establishment and rise in popularity, various groups and even the government are questioning the credibility of Bitcoin and the potential of being responsible for the threat of wide existence of money laundering being imposed by those certain groups transacting black money into the system. There might be a chance that there are cases wherein Bitcoin will be involve in such activity but Bitcoin is just being used by those as a platform and the blame must not be put into Bitcoin itself. But surely most people who do money laundering would prefer such activity of doing it with fiat for they might be thinking that the unfamiliarity with it might get them to be caught. But if it is possible with Bitcoin, yes it is.

[SystemTrader]

The government wants to be in control of the money and they also want to stop anything that might undermine their own currency. They want the ability to tax and seize at will. Crypto makes this difficult which is why I see them trying to stop it in the future.

[XCANA]

Let talk reality: Money laundering via Bitcoin doesn't come easy becasue it involves many task and convery up messes to avoid be caught by by the government. It's very difficult for a single individual to launder money via bitcoin than using some sort of business to launder money, i will recommend you use business for that purpose than just doing it individually as you risk be caught if not deal P2P. P2P can't launder huge sum of money without be caught in some exchanges.

[suzanne5223]

Money laundering is one of those issues that have been thrown against Bitcoin at the first years of its establishment and rise in popularity, various groups and even the government are questioning the credibility of Bitcoin and the potential of being responsible for the threat of wide existence of money laundering being imposed by those certain groups transacting black money into the system. There might be a chance that there are cases wherein Bitcoin will be involve in such activity but Bitcoin is just being used by those as a platform and the blame must not be put into Bitcoin itself. But surely most people who do money laundering would prefer such activity of doing it with fiat for they might be thinking that the unfamiliarity with it might get them to be caught. But if it is possible with Bitcoin, yes it is.

Theres no doubt that every elements that's used as currency can be use for illicit activity but the government and various group who throw shade on Bitcoin been used to execute the black money transaction are just trying to make an unfair accusation about Bitcoin because before the existence of Bitcoin fiat have been used for illicit transaction and the research done by ex-CIA director prove fiat to be the most used currency for illicit transactions.

[Shasha80]

In theory Bitcoin can indeed be used for money laundering, but because Bitcoin is easy to track, for me there is a greater risk of being caught.
Therefore doing money laundering with Bitcoin is more risky than using other assets, criminals should rethink if they want to launder money
with Bitcoin. There have been many articles that have also reviewed this issue, and money laundering with Bitcoin is rare. But because
the government often reports that Bitcoin is widely used for money laundering, hence the thinking of many people Bitcoin is very good
for money laundering. Even though the reality is that it is not that easy to laundering money with Bitcoin.

[Mr.007]

Hi guys ! My name’s Dave.
ข่าวกีฬา
Is it possible to do money laundering via bitcoin? I mean as no one knows if you have bitcoin and how much bitcoin do you actually own, it could be used to convert black money to white right? Or at least store your black money without much hassle. But there is the risk of its value but I think for people who have lots of black money and don't want to be caught, this risk might be worth taking for them isn't it?
What are your thoughts?

Yes, it is possible to do money laundering in Bitcoin because Bitcoin itself is because Bitcoin is a digital coin and if there are tax people they may not see the results of corruption because Bitcoin has no physical form

[Willitivity]

Hi guys ! My name’s Dave.
ข่าวกีฬา
Is it possible to do money laundering via bitcoin? I mean as no one knows if you have bitcoin and how much bitcoin do you actually own, it could be used to convert black money to white right? Or at least store your black money without much hassle. But there is the risk of its value but I think for people who have lots of black money and don't want to be caught, this risk might be worth taking for them isn't it?
What are your thoughts?

Money laundering is possible to achieve using bitcoin or other crypto coins. Usage of non custodial wallets, coin mixing services and other techniques helps with privacy and this in turn is beneficial to people who intend to use Bitcoin for such  a venture. I need to mention that there have been several cases of money laundering aside from the few ones we see in the media. Dealers can make use of p2p services to wrap up deals like that thanks to Bitcoin . That is why I said it is very much possible. It's easy too since anybody can send anybody funds without knowing the origin.

[Mr.007]

The government wants to be in control of the money and they also want to stop anything that might undermine their own currency. They want the ability to tax and seize at will. Crypto makes this difficult which is why I see them trying to stop it in the future.

it is very annoying how they play dirty to kill crypto coins so that they are not used by many people, even though using crypto coins is very simple and fast when sending balances between countries

[Mr.007]

So what if some financial institutions use cryptocurrencies to launder money . They will get a fine and then its over. Always goes that way, we seen it many times before in banking system. Nothing happens. Its buy the dip always is,

yes, this is just fud from the government so they keep people away from using crypto, so just keep buying and waiting for the bulls to return

[KryptoKings]

Hi guys ! My name’s Dave.
ข่าวกีฬา
Is it possible to do money laundering via bitcoin? I mean as no one knows if you have bitcoin and how much bitcoin do you actually own, it could be used to convert black money to white right? Or at least store your black money without much hassle. But there is the risk of its value but I think for people who have lots of black money and don't want to be caught, this risk might be worth taking for them isn't it?
What are your thoughts?

The question is, how will you buy such large quantity of btc by your black money?.
If you go to any centralized exchange, they will ask you to do kyc and add money from your bank or credit/debit card.
If you planning to do p2p trade, then again you have to personally meet the seller and buy btc from him for cash (Which is risky considering you want big amount)
Even p2p platforms like localbitcoin and paxful ask you to do kyc for larger amount of trades.
So their is no way you can launder your black money through btc.

[peter0425]

Hi guys ! My name’s Dave.
ข่าวกีฬา
Is it possible to do money laundering via bitcoin? I mean as no one knows if you have bitcoin and how much bitcoin do you actually own, it could be used to convert black money to white right? Or at least store your black money without much hassle. But there is the risk of its value but I think for people who have lots of black money and don't want to be caught, this risk might be worth taking for them isn't it?
What are your thoughts?

If you won't be caught ? then why not right?

Do your country has no Laws and action about Money laundering ? in mine there are so tight way in monitoring money launderer because of the cases happens couple of weeks ago when syndicates use our country to launder tons of money from other countries bank.


But I'm telling you Not to dare trying this because once you caught surely your funds will be going to confiscation .

[iTradeChips]

I do not do that since I am no crook. If it is gambling money then it should not be dirty. But aside from crypto, I might also buy gold and silver using the said money since there are so many establishments that sells them. But I might not do bulk purchases, just little purchases here and there. Also with bitcoin, I would prefer personal direct approach buying bitcoin from people and putting them on my personal wallet. No fuzz, no mess, hopefully.