Fact: There is no anything like money laundering but governments want to buy BTC

[semobo]

money laundering by officials seems to be a culture. with severe punishment this can only minimize the activity. until there is a country that applies the death penalty for corruptors, but there are still corruptors. therefore the government should calculate the benefits and risks of bitcoin, don't just look at the negative side

Money launderers are the government officials and politicals leaders and also they are the one who is making laws then how can you expect them to give death penalty for such crimes so they should be real to hang themselves or it it will never be possible.

[lixer]

Fact: There is no anything like money laundering but governments want to buy BTC

The fact is that that there is no anything like money laundering but governments want to buy BTC, just assume that when you buy bitcoin then you use your credit card or bank account, your money already has transferred at that time to a foreign bank account and you have bitcoin in exchange with that, similarly if you are a miner who mines bitcoin then you sell bitcoin either in your country or either to someone who lives outside, then in exchange he transfers money using a bank account to your account so how it could be possible that money laundering might exist? Governments want to keep the price of Bitcoin down in order to buy more Bitcoin by spending the less amount of so called "Fiat" currency.

I think you misunderstood the meaning of money laundering. Someone who is buying Bitcoin is not doing something illegal, unless Bitcoin is illegal in your country. And a miner who is selling his mined Bitcoin is also not doing anything wrong at all, there is nothing bad about that as long as Bitcoin is legal in your country.

But as for money laundering, it doesn’t have anything to do with these things that you have mentioned here. Money laundering means when you’re trying to conceal an illegally obtained money through international bank transfers and legit businesses. So when they say that Bitcoin can be used for money laundering, they know what they are saying. But that doesn’t mean Bitcoin is the only thing that’s used for that, a lot of means can be used in laundering money, and fiat is on top that list.

[DashingAgent]

It is already explained that if governments just abolish fiat money then there will be no case of money laundering because fiat is the only thing which can be used for money laundering like black money to white money as someone stated in his comment, while you cannot make bitcoin white or black because you will only have bitcoin and how do you claim that "What if someone uses his bitcoin to buy gold"? Only if someone who is noob or stupid will prefer to use bitcoin to buy gold or use bitcoin to buy usdt

When there are bank statements then how money laundering is possible via bitcoin? You pay fiat to buy bitcoin, you don't pay bitcoin to buy bitcoin. If governments want to stop money laundering then they must abolished the fiat currency.

By the way, @OP do you know what is money laundering?

Any earnings which are not reported to government so you are not paying taxes is called black money and people who are converting black money into white in different ways is called money laundering so money laundering can be done by anyone and the medium of asset is different in all the cases.

What if someone uses his bitcoin to buy gold or get physical cash where there is no involvement of a bank? Literally, money laundering is unstoppable no matter how many strict regulations the governments are having unless they allow the evaders to accept their mistake and give the least amount as a penalty for their mistake done by them in the past.

[teosanru]

Fact: There is no anything like money laundering but governments want to buy BTC

The fact is that that there is no anything like money laundering but governments want to buy BTC, just assume that when you buy bitcoin then you use your credit card or bank account, your money already has transferred at that time to a foreign bank account and you have bitcoin in exchange with that, similarly if you are a miner who mines bitcoin then you sell bitcoin either in your country or either to someone who lives outside, then in exchange he transfers money using a bank account to your account so how it could be possible that money laundering might exist? Governments want to keep the price of Bitcoin down in order to buy more Bitcoin by spending the less amount of so called "Fiat" currency.

Haha money laundering in bitcoin is taking place in two ways. One is through cash. People are abandoning their cash because they know bitcoin is a better option in terms of storage. Those who don't want to take a risk can simply buy a stablecoin in crypto. It's much easier to store these Cryptos than it is to store any amount of cash also they can be easily transferred. Second problem is for payment of services. If you bought something from bitcoin, you just evaded both indirectly tax as well as direct tax because this service and it's amount will never come into circulating GDP.

[DashingAgent]

Then you should not blame bitcoin because if bitcoin is obtained illegally then it is already illegal so how it can be called a form of money laundering? if bitcoin is being used to conceal money, then bitcoin is not a legal currency in those countries. If bitcoin is illegal then it cannot be blamed for money laundering. The only thing which can be blamed is fiat.

Fact: There is no anything like money laundering but governments want to buy BTC

The fact is that that there is no anything like money laundering but governments want to buy BTC, just assume that when you buy bitcoin then you use your credit card or bank account, your money already has transferred at that time to a foreign bank account and you have bitcoin in exchange with that, similarly if you are a miner who mines bitcoin then you sell bitcoin either in your country or either to someone who lives outside, then in exchange he transfers money using a bank account to your account so how it could be possible that money laundering might exist? Governments want to keep the price of Bitcoin down in order to buy more Bitcoin by spending the less amount of so called "Fiat" currency.

I think you misunderstood the meaning of money laundering. Someone who is buying Bitcoin is not doing something illegal, unless Bitcoin is illegal in your country. And a miner who is selling his mined Bitcoin is also not doing anything wrong at all, there is nothing bad about that as long as Bitcoin is legal in your country.

But as for money laundering, it doesn’t have anything to do with these things that you have mentioned here. Money laundering means when you’re trying to conceal an illegally obtained money through international bank transfers and legit businesses. So when they say that Bitcoin can be used for money laundering, they know what they are saying. But that doesn’t mean Bitcoin is the only thing that’s used for that, a lot of means can be used in laundering money, and fiat is on top that list.

[DashingAgent]

So why reserve banks do not accept taxes in the form of Bitcoin? (Reserve banks do not accept bitcoin yet but claim that they accept bitcoin) otherwise it only shows that that governments just want to generate fiat money out of thin air. Governments should blame themselves, instead of showing their hypocrisy by cracking down on bitcoin.

Fact: There is no anything like money laundering but governments want to buy BTC

The fact is that that there is no anything like money laundering but governments want to buy BTC, just assume that when you buy bitcoin then you use your credit card or bank account, your money already has transferred at that time to a foreign bank account and you have bitcoin in exchange with that, similarly if you are a miner who mines bitcoin then you sell bitcoin either in your country or either to someone who lives outside, then in exchange he transfers money using a bank account to your account so how it could be possible that money laundering might exist? Governments want to keep the price of Bitcoin down in order to buy more Bitcoin by spending the less amount of so called "Fiat" currency.

Haha money laundering in bitcoin is taking place in two ways. One is through cash. People are abandoning their cash because they know bitcoin is a better option in terms of storage. Those who don't want to take a risk can simply buy a stablecoin in crypto. It's much easier to store these Cryptos than it is to store any amount of cash also they can be easily transferred. Second problem is for payment of services. If you bought something from bitcoin, you just evaded both indirectly tax as well as direct tax because this service and it's amount will never come into circulating GDP.

[Distinctin]

Okay, but if the government and the banks considering this as a money-laundering then they have to call attention to the owner of the said credit card and do the investigation. But they don't and that simple it was not against the law unless if the transaction is suspicious. However, banks had already known and aware of Bitcoin, even they don't accept Bitcoin as their payment but they are still in business you know coz these people will surely convert their Bitcoin to fiat money and deposited it back into their account.

Money laundering really exists but not all the transfer transactions will be meant that way.

[Rengga Jati]

Fact: There is no anything like money laundering but governments want to buy BTC

This is not a fact, but an opinion, your own opinion.
Money laundering does exist and there are many ways to do money laundering.
Every government servant or employee has their own salary based on their rights.
However, why money laundering does exist?because there are funds that are not their right salary, or money from corruption, and other money that is used and saved without known by the country and not notified.
In this case, how if someone got money and then he asked other people to deposit money to exchanges? It can be and it will not be tracked by the bank if the money is his.

[semobo]

It is already explained that if governments just abolish fiat money then there will be no case of money laundering because fiat is the only thing which can be used for money laundering like black money to white money as someone stated in his comment, while you cannot make bitcoin white or black because you will only have bitcoin and how do you claim that "What if someone uses his bitcoin to buy gold"? Only if someone who is noob or stupid will prefer to use bitcoin to buy gold or use bitcoin to buy usdt

If you don't pay taxes to your earnings whether it is bitcoin or fiat, its simply called as black money. Governments will never be going to leave their fiat money and accept bitcoin as a legal tender unless they are facing hyperinflation and economical crisis. You can't say that someone who buy gold with bitcoin are stupid because if you bought bitcoin at its peak it was about $62K but now it is at $32K in matter of months but we don't see such type of crash in gold so it all depends on how good ou are multiplying your income.

[poodle63]

Money laundering always exists doesn't matter whether it's through using fiat or cryptocurrency, the thing is, money laundering in crypto usually being made as a big deal while the scale of money laundering through crypto in
my opinion isn't as large as those with paper money. The government likes to demonize crypto because it's just out of their control, imagine a decentralized currency that not even government could freeze, that's why they
usually really opposes it.

[ven7net]

Fact: There is no anything like money laundering but governments want to buy BTC

The fact is that that there is no anything like money laundering but governments want to buy BTC, just assume that when you buy bitcoin then you use your credit card or bank account, your money already has transferred at that time to a foreign bank account and you have bitcoin in exchange with that, similarly if you are a miner who mines bitcoin then you sell bitcoin either in your country or either to someone who lives outside, then in exchange he transfers money using a bank account to your account so how it could be possible that money laundering might exist? Governments want to keep the price of Bitcoin down in order to buy more Bitcoin by spending the less amount of so called "Fiat" currency.

The process of money laundering is when financial transactions are carried out without the use of official government instruments. However, if you buy BTC or sell BTC using a bank card, then there is probably nothing like money laundering, unless you do it all without using the same bank cards. As for the governments, although whether they buy BTC or not, we cannot know 100%, since none of them officially announced this. But the fact that the price of BTC has gone down suggests that someone is buying BTC and that these are probably large funds.

[teosanru]

So why reserve banks do not accept taxes in the form of Bitcoin? (Reserve banks do not accept bitcoin yet but claim that they accept bitcoin) otherwise it only shows that that governments just want to generate fiat money out of thin air. Governments should blame themselves, instead of showing their hypocrisy by cracking down on bitcoin.

Fact: There is no anything like money laundering but governments want to buy BTC

The fact is that that there is no anything like money laundering but governments want to buy BTC, just assume that when you buy bitcoin then you use your credit card or bank account, your money already has transferred at that time to a foreign bank account and you have bitcoin in exchange with that, similarly if you are a miner who mines bitcoin then you sell bitcoin either in your country or either to someone who lives outside, then in exchange he transfers money using a bank account to your account so how it could be possible that money laundering might exist? Governments want to keep the price of Bitcoin down in order to buy more Bitcoin by spending the less amount of so called "Fiat" currency.

Haha money laundering in bitcoin is taking place in two ways. One is through cash. People are abandoning their cash because they know bitcoin is a better option in terms of storage. Those who don't want to take a risk can simply buy a stablecoin in crypto. It's much easier to store these Cryptos than it is to store any amount of cash also they can be easily transferred. Second problem is for payment of services. If you bought something from bitcoin, you just evaded both indirectly tax as well as direct tax because this service and it's amount will never come into circulating GDP.

Umm! Ideally, Fiat isn't generated out of thin air! For every million generated by the government, there are repercussions on the whole economy so it needs to be very smartly done. Talking about why Reserve Banks do not accept taxes in form of bitcoin. Taxes are basically a cut from what you have earned. Now Imagine if Reserve Bank starts collecting taxes in form of gold? People who earn in fiat will rather start buying gold and then deposit their taxes, in this buying price of gold would dramatically increase and therefore people who would pay their taxes late would end up paying much more tax than what is required. Moreover, it's a futile exercise. For this sake of simplicity, taxes are collected in legal tender only.