Will Bitcoin lose control over money laundering?

[WhoYouCantKill]

One mistake I think people shouldn’t make is thinking or believing that merely using Bitcoin automatically makes their money safe from legal or financial problems. That’s why it’s crucial to always very every single payment details and also keep transaction histories, especially when trading with people on P2P. These are essential security habits that can help you protect your funds from scams or misunderstandings without giving up control of your funds.

[Sticky Bomb]

Bitcoin is actually the last thing a criminal trying to launder money will think of .. every on-chain transaction is transparent. Do you think it’s just like convert to BTC then send the BTC out and boom! the money is clean

I'm afraid you're wrong lol... Bitcoin is pretty much the first step to launder money. It's stable enough has enough value and is decentralized. Come to think about it? What else could they ever use? Yeah yeah you can say privacy coins but in reality they come after it has been successfully stolen via bitcoin.

Stables can be frozen, at least most if em'. privacy coins on the other hand can be very difficult to get actually. We barely have enough trusted DEX providers.

No Mia, He actually knows what he's saying. Money laundering is done more via fiat, and it is mostly carried out by governmental bodies. 95% of government contracts has embezzlement embedded in it of which is made clean through the contract terms, contracts are surface, how the money is distributed after the contractors is mobilized is the main laundering game and since fiat transactions isn't public, its easier done through awarding contracts, the only percentage for the contractor is 10 - 30%, the rest is money laundering. I talk from experience.

Bitcoin is the last option, unless it is money stolen through crypto institutional hacks and others, but the main laundering of money is neatly done with fiat through contracts, sponsorships and ambassadorial deals, e.t.c. Let me give you one example:
Odogwu bitters which was launched 4 years ago: Here are the Ambassadorial deals-
Portable: ₦50 million (approximately $120,000 at the time).
Zubby Michael : Undisclosed amount
Late Alex Ekubo: Undisclosed amount
Broda Shaggi : Undisclosed amount
Mr Jollof : Undisclosed amount

Now why did you think the others chose not to disclose? It is not just for security purpose, but because the money would raise eyebrows.

Now ask yourself how many packets of that bitters were sold and can you still see them promoting it or the bitters selling in nearby stores?
Do you think they launched their bitters for it to fade away in a little timeframe?
This is what money laundering is, bitcoin na less, the government knows what they're doing and fighting bitcoin because they cannot control it. Money laundering on bitcoin is harder and very negligible compared to fiat

[Zigabel]

You need understand one thing first before you talk about this Bitcoin mata, one of the primary fight wey we dey see government dey fight well well for Bitcoin mata na the fight to gain control, dem know say if dem fit get control over am, e go benefit dem in some ways and some of dia selfish interest too dem go fit fulfil am, but Bitcoin na something wey be say one person or group of persons no fit control am, and na where the hate for Bitcoin by some governments start. so if you first understand this thing, e go help you understand how the whole hate and alleged allegations on Bitcoin use come about.

No doubts, e get pipo dem wey dey use Bitcoin run some kain dirties, but not all of the accusation on Bitcoin really dey true, infact actual stat get am say dem launder moni in fiat pass crypto sef, but because e get one kain hatred for crypto, dem go wan push everything put for crypto. Bitcoin on its own no get any issues with illegality, rather na pipo dem dey use am run matas, so i think say e better to focus more attention on the said culprits dem dan to den blame d asset wey  be  like just tools wey fit dey used for every and any thing. Bitcoin here no be the problem, i think the launders dem naim be d issue to face and not the means.

[Coyster]

It may also happen that the government can take Bitcoin under its control like banks.

Lol, how is that going to happen bro. Bitcoin is decentralized, it is not something any entity can just take under its control at its whim.

Bitcoin is just a tool, a great and useful one at that. If some people use it for illicit purposes, then it is on the perpetrators and not the coin in itself. Talking about money laundering my friend, what better tool to use for that purpose than cash, why are you not kicking up a fuss about fiat then, i guess it's because bitcoin is the easy target and is not printed by the money printers

[Shadiq]

Money laundering has happened before and is still happening, so there is no point in blaming Bitcoin. Is money laundering not happening with fiat? Of course it is. Despite central or government control, money laundering is happening, criminals are conducting criminal activities, yet we cannot blame them for it. Because, the failure is not of money or financial management, but here the government is failing, the regulatory agency is failing. You can blame those who are laundering money or abusing the financial system.

Since Bitcoin or crypto is decentralized and supports pseudonymity, it is relatively difficult to reveal the identity of the launderer. So money launderers and criminals are trying to turn to crypto, especially Bitcoin. This is not a problem with Bitcoin or crypto, but the fault of those who abuse the system. There is no system in the world that is not abused.

[Cryptomultiplier]

It may also happen that the government can take Bitcoin under its control like banks.

Lol, how is that going to happen bro. Bitcoin is decentralized, it is not something any entity can just take under its control at its whim.

Bitcoin is just a tool, a great and useful one at that. If some people use it for illicit purposes, then it is on the perpetrators and not the coin in itself. Talking about money laundering my friend, what better tool to use for that purpose than cash, why are you not kicking up a fuss about fiat then, i guess it's because bitcoin is the easy target and is not printed by the money printers

We have been led to believe by the government how Bitcoin is the main tool for money laundering and that's why CEX exist with AML policies and kYC requirements to track and monitor most activities, but I doubt they really understand that money laundering has different methods to be achieved, instead all that this fear is geared at is to control Bitcoin.

Since Bitcoin is decentralized, other systems or most times accumulation can become most effective with it because even hackers who steal Bitcoin find it hard to easily swap it to other currency to spend due to monitoring tools and government eyes that's everywhere. So how can money laundering with Bitcoin thrive when it is the most watched coin on the network?

[devouring-DARKNESS]

Just recently there were talks about how during the end sars movement people paid to support through bitcoin to make sure their identities were safe while they were still able to be a part of the end SARS movement, I understand that No-KYC doesn't automatically mean the money has been successfully laundered but if you are saying you don't see t e possibilities then you are clearly lying to yourself.
I believe making use of Mixers will aid alot in laundering money through bitcoin though I do not fully understand how Mixers work, then there is also converting bitcoin to other cryptocurrencies that make use of different Blockchain across multiple wallet addresses, at the end you might not be successful in laundering the money but that doesn't mean it's impossible.