Crypto Casinos vs money laundering.

[ethereumhunter]

Money laundering became a virus to many of the developing nations as compared to  developed nations. Because developing countries are large in size mostly and economic spread over large period. So most of the economy was not accountable,their the corruption was occur is large scale.So the developing countries economies involved in Money laundering and more crypto currency casino will be origin in this place.

And maybe that's why some casinos ask users to do KYC in anticipation of the casino being used as a place to launder money from corruptors. Casinos also don't want to become targets for corruptors who play with big money because later it can cause problems for the casinos so the regulators will put more pressure on them. And this won't be good for crypto gamblers who don't engage in illegal activities because they don't know anything about it. But the money launderers know where they can carry out their activities easily. Moreover, their network is very wide so they can easily contact places they are used to as money laundering.

[1714880003]

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[coupable]

As a response for whom think that bitcoin can be associated with crime by using it for gambling activities ; Even Fiat money is used in suspicious activities and has not been subjected to any attack to limit its use in one way or another. Moreover, the adoption of Bitcoin by casinos cannot be considered a suspicious activity, especially for licensed casinos.
In my opinion, it is good to see more businesses supporting Bitcoin, including gambling projects and even porn production companies. On this basis, I understand op's remark and his question about it, because the number of crypto-based casinos has increased a lot and cannot be compared to the number in the early years of Bitcoin. Answer: Yes, this contributes to strengthening the position of Bitcoin and supporting it as a reliable currency and a secure payment gateway. However, the side effects that must be dealt with can never be canceled by adopting the necessary procedures.

[AmoreJaz]

As a response for whom think that bitcoin can be associated with crime by using it for gambling activities ; Even Fiat money is used in suspicious activities and has not been subjected to any attack to limit its use in one way or another. Moreover, the adoption of Bitcoin by casinos cannot be considered a suspicious activity, especially for licensed casinos.
In my opinion, it is good to see more businesses supporting Bitcoin, including gambling projects and even porn production companies. On this basis, I understand op's remark and his question about it, because the number of crypto-based casinos has increased a lot and cannot be compared to the number in the early years of Bitcoin. Answer: Yes, this contributes to strengthening the position of Bitcoin and supporting it as a reliable currency and a secure payment gateway. However, the side effects that must be dealt with can never be canceled by adopting the necessary procedures.

and thinking about the money laundering, crypto or btc is just one of the currencies involve in this fraudulent act. but up until now, fiat is still the major means of this illegal activity. launderers just add another route to their scheme. media is just highlighting btc in a bad light. but we all know, fiat is still the major player in these fraudulent schemes.

[Rabata]

So, what do you say, does crypto casinos really care about money laundering?

I think they will be limited to their responsibilities. If the casino brings any allegations of money laundering against a client, their business may suffer in a way that they would never want. If they are asked to investigate these illegal activities, they will not do that because they have no need to investigate the gambler's finances. What casinos can do is ask each gambler for their KYC. If they get any error then they can take necessary action. Money laundering is an illegal activity, every casino should discourage such activity.

[Webetcoins]

The best or the worse thing? I think there is more than money laundering, and that would be hacking because when a casino is hacked, all funds are going to be swept away but as far as I know no money is lost during a money laundering act. The launderer will just exchange the coins that they got from illegal stuffs. It's like they are only cleansing/cleaning it. Those casinos who has a KYC on them do cares about money laundering.

If the customer is a potential launderer, it will still be blocked by a casino and they can't earn with it but they shouldn't feel bad. At least they help combat these illegalities and maybe they can still get some recognition from the public and on the government.

[Casdinyard]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

The thing is, and this happens everyday mind you, things wouldn't be a cause for concern until the cops' sirens are heard. With that idea in mind you could put two and two together in the sense that these casinos aren't exactly tolerating it, but aren't exactly against it either as it doesn't disrupt their business for one, and it's not something that they can't outright ban cause it would take massive efforts and a whole lot of enemies too on their part just so they can uphold justice.

So until the authorities do something about it, perhaps mobilize a police task force that tackles specifically money laundering, we won't see any movement on the casino's part as they are in a precarious situation where they can't do anything else they risk losing their business one way or another.