Just saying that, by far, the most common ways to launder money have nothing to do with btc. It can be taken advantage of by criminals just like usd or any currency. Go to a casino, exchange usd for chips, cash out chips…laundered. Apparently it’s very easy no matter what currency you want to use so not liking btc is fine but it can’t be because is laundering.
“While casinos and junkets have for years served as vehicles for regional underground banking and money laundering, the proliferation of … underregulated cryptocurrency exchanges has changed the game, allowing for faster anonymized movement of funds"
From a 2024 UN report on money-laundering in casinos in South East Asia
Money laundering with casinos and with crypto aren’t necessarily separate issues, particularly with the rise of online and digital gambling.
Casinos can be and often are fined if regulators suspect money laundering - the majority have systems in place to crack down on it. Crypto is part of this arms race between casinos and criminals.
Yes, crypto is rising to the level of corruption of the usd but isn’t there yet. One big difference, you can print more usd(and do all the time at a heafty rate). You can’t print more btc. Ever.
Those things can be used for stuff other than crimes. Holding Bitcoin itself isn’t a crime, but there’s not really any use cases for it outside of crime.
Just saying that, by far, the most common ways to launder money have nothing to do with btc. It can be taken advantage of by criminals just like usd or any currency. Go to a casino, exchange usd for chips, cash out chips…laundered. Apparently it’s very easy no matter what currency you want to use so not liking btc is fine but it can’t be because is laundering.
“While casinos and junkets have for years served as vehicles for regional underground banking and money laundering, the proliferation of … underregulated cryptocurrency exchanges has changed the game, allowing for faster anonymized movement of funds"
From a 2024 UN report on money-laundering in casinos in South East Asia
Money laundering with casinos and with crypto aren’t necessarily separate issues, particularly with the rise of online and digital gambling.
Casinos can be and often are fined if regulators suspect money laundering - the majority have systems in place to crack down on it. Crypto is part of this arms race between casinos and criminals.
Yes, crypto is rising to the level of corruption of the usd but isn’t there yet. One big difference, you can print more usd(and do all the time at a heafty rate). You can’t print more btc. Ever.
This guy launders money
To be fair, USD is used for things that aren’t crimes as well. Bitcoin has no utilities other than crime and speculation
So email hosting, VPN, domain names, supporting content creators, buying PC parts – are these crimes?
Those things can be used for stuff other than crimes. Holding Bitcoin itself isn’t a crime, but there’s not really any use cases for it outside of crime.
I just listed 5…