Topic: Cryptocurrency to be used in Money laundering and Terrorism? - page 6. (Read 2743 times)
The security check procedure that can be gotten Fromtge usual money transaction has made money launder are vices look the way of cryptocurrency but still I there would be father measures put into cryptocurrency
99% of the cryptocurrencies aren't even big enough to be able to cover transactions of a single super market let alone want to be used in money laundering and terrorism that are handling billions of dollars at a time. not to mention that majority of altcoins are indeed shitcoins that lose value in a blinking of an eye. no money launderer would ever want to suddenly lose a huge percentage of their money.
they still stick to using USD because it is the most reliable currency for illegal activities with the most stable value.
they still stick to using USD because it is the most reliable currency for illegal activities with the most stable value.
Cryptocurrency is like a blade, there are good and bad sides.
It must be admitted that the negative side of cryptocurrency can be used as
money laundering and terrorism. But don't focus too much on the negative side.
Because there are still many positive sides to cryptocurrency that we can see.
For me cryptocurrency is a miracle that can change my life.
Therefore as much as possible I want to do something that makes crypto
looks positive in the eyes of the world. Then the negative accusations against crypto can
disappear slowly.
It must be admitted that the negative side of cryptocurrency can be used as
money laundering and terrorism. But don't focus too much on the negative side.
Because there are still many positive sides to cryptocurrency that we can see.
For me cryptocurrency is a miracle that can change my life.
Therefore as much as possible I want to do something that makes crypto
looks positive in the eyes of the world. Then the negative accusations against crypto can
disappear slowly.
This is what people and the government say when they want to go against and attack cryptocurrency. It is an agreed upon fact that even before the existence of cryptocurrencies, money laundering and terrorism has always been a major crime, so cryptocurrency is not what is being used to foster these crimes. More energy should be focused on the crimes to tackle them, rather than spreading negativity on crypto.
But still, we can't deny the fact that some of the cryptocurrency users today are using crypto in different illegal activities. It is one of the realities we need to face. And as much as we hate to hear it because it makes such a bad image to bitcoin and other cryptos, it is really happening now. The criminals, terrorists, and drug syndicates are also adopting the use of this kind of technology to make their transactions at ease and their identities are hidden.
Because of that, we can't blame other people to think negatively about crypto though this issue has the same principle with our own money (fiat). It's also use for this kind of stuff, and yes, even before crypto has been invented.
Money is not actually a bad thing. It only becomes bad when it is used for illegal activities. It's the reason why money is defined as the root of all evil, but it is not the evil itself, it's the people who are because they choose to use it that way.
Bet they're just looking for a reason that would make it relevant for them not to accept cryptoccurency. They're just using it as an excuse because first of all, government don't want cryptoccurency. Regardless of what kind of currency you are using, there will always be money laundering and/or terrorism and other criminal activities.
Don't make crypto look bad because even with physical cash, there are still cases like that. It's just easy to have transactions since it's decentralized. If a government would create one, obviously its in centralized. But it's not crypto who has to take all the blame because it's the people who abuses its use.
Don't make crypto look bad because even with physical cash, there are still cases like that. It's just easy to have transactions since it's decentralized. If a government would create one, obviously its in centralized. But it's not crypto who has to take all the blame because it's the people who abuses its use.
According to the world survey: https://www.loc.gov/law/help/cryptocurrency/world-survey.php
Many of the warnings issued by various countries also note the opportunities that cryptocurrencies create for illegal activities, such as money laundering and terrorism. Some of the countries surveyed go beyond simply warning the public and have expanded their laws on money laundering, counterterrorism, and organized crimes to include cryptocurrency markets, and require banks and other financial institutions that facilitate such markets to conduct all the due diligence requirements imposed under such laws. For instance, Australia, Canada, and the Isle of Man recently enacted laws to bring cryptocurrency transactions and institutions that facilitate them under the ambit of money laundering and counter-terrorist financing laws. This is one of the reasons why government will not take the risk on accepting cryptocurrency as global money.
This is actually happen a long time ago and still now. There are many scammers and hackers that are using bitcoin in order for them to get money from their targets without being traced. Cryptocurrency transaction could not be monitored so easily. Also, I read a news before that bitcoin is the mode of payment for purchasing illegal materials also in the internet. Many of the warnings issued by various countries also note the opportunities that cryptocurrencies create for illegal activities, such as money laundering and terrorism. Some of the countries surveyed go beyond simply warning the public and have expanded their laws on money laundering, counterterrorism, and organized crimes to include cryptocurrency markets, and require banks and other financial institutions that facilitate such markets to conduct all the due diligence requirements imposed under such laws. For instance, Australia, Canada, and the Isle of Man recently enacted laws to bring cryptocurrency transactions and institutions that facilitate them under the ambit of money laundering and counter-terrorist financing laws. This is one of the reasons why government will not take the risk on accepting cryptocurrency as global money.
yes it is indeed true, why the government is worried about the presence of cryptoqurrency because of fear of being misused for money laundering such as terrorism funding, drug transactions, and other illegal transactions. and I think this is a major problem why the government does not legalize cryptoqurrency in every country.
it’s just that the government is afraid of losing a very big profit. regular money is now being used to finance all these bad things in the same way, but regular money is still legal
yes it is indeed true, why the government is worried about the presence of cryptoqurrency because of fear of being misused for money laundering such as terrorism funding, drug transactions, and other illegal transactions. and I think this is a major problem why the government does not legalize cryptoqurrency in every country.
Anything valuable can be used to exchange any goods either weapons or bombs its left for those doing the exchange, this doesn't have any thing to do with crypto, bitcoin can be use for means of payment thats all there is to now, what ever anyone wants to use their bitcoin to buy shouldn't be any of our problems
This is what people and the government say when they want to go against and attack cryptocurrency. It is an agreed upon fact that even before the existence of cryptocurrencies, money laundering and terrorism has always been a major crime, so cryptocurrency is not what is being used to foster these crimes. More energy should be focused on the crimes to tackle them, rather than spreading negativity on crypto.
We all know that they are existing type of crime even before the era of cryptocurrency but we need to accept also that cryptocurrency is the top most used type of currency in doing illegal activities like money laundering and terrorism because it is so easy to put your money in cryptocurrency and pass it to another person without looking suspicious. 
This is what people and the government say when they want to go against and attack cryptocurrency. It is an agreed upon fact that even before the existence of cryptocurrencies, money laundering and terrorism has always been a major crime, so cryptocurrency is not what is being used to foster these crimes. More energy should be focused on the crimes to tackle them, rather than spreading negativity on crypto.
According to the world survey: https://www.loc.gov/law/help/cryptocurrency/world-survey.php
Many of the warnings issued by various countries also note the opportunities that cryptocurrencies create for illegal activities, such as money laundering and terrorism. Some of the countries surveyed go beyond simply warning the public and have expanded their laws on money laundering, counterterrorism, and organized crimes to include cryptocurrency markets, and require banks and other financial institutions that facilitate such markets to conduct all the due diligence requirements imposed under such laws. For instance, Australia, Canada, and the Isle of Man recently enacted laws to bring cryptocurrency transactions and institutions that facilitate them under the ambit of money laundering and counter-terrorist financing laws. This is one of the reasons why government will not take the risk on accepting cryptocurrency as global money.
Many of the warnings issued by various countries also note the opportunities that cryptocurrencies create for illegal activities, such as money laundering and terrorism. Some of the countries surveyed go beyond simply warning the public and have expanded their laws on money laundering, counterterrorism, and organized crimes to include cryptocurrency markets, and require banks and other financial institutions that facilitate such markets to conduct all the due diligence requirements imposed under such laws. For instance, Australia, Canada, and the Isle of Man recently enacted laws to bring cryptocurrency transactions and institutions that facilitate them under the ambit of money laundering and counter-terrorist financing laws. This is one of the reasons why government will not take the risk on accepting cryptocurrency as global money.
Whatever, i am tired of hearing this over again, fiat is been used in money laundering and terrorism before blockchain technology was created and now digital currencies take over and introduce better means of payment so terrorist organisations and crime syndicates can use it as well, this doesn't mean that it was created for bad people to use.
Cryptocurrency to be used in money laundering and terrorism? Uhm, I think this is what people who are actively against cryptocurrency say just to create a bad image for the coin. If you ask me, Money and other fiat currencies have been used in money laundering and terrorism too, and you don't see people going about trying to bring these down. I think people who are against cryptocurrencies should come up with a better point that these.
And do you know that american dollar is the most used currency for such illegal activities. How many people know it? And still they use USD and still is a worldwide accepted currency, so where is the problem?
yes, crypto is used for illegal things, but i bet, fiat money has been used more in the last 20 years to do illegal things. even with gold, silver and other things illegal activities were paid.
as soon as something has value, it is also used to pay for illegal things. it has always been that way and will certainly stay that way.
as soon as something has value, it is also used to pay for illegal things. it has always been that way and will certainly stay that way.
According to the world survey: https://www.loc.gov/law/help/cryptocurrency/world-survey.php
Many of the warnings issued by various countries also note the opportunities that cryptocurrencies create for illegal activities, such as money laundering and terrorism. Some of the countries surveyed go beyond simply warning the public and have expanded their laws on money laundering, counterterrorism, and organized crimes to include cryptocurrency markets, and require banks and other financial institutions that facilitate such markets to conduct all the due diligence requirements imposed under such laws. For instance, Australia, Canada, and the Isle of Man recently enacted laws to bring cryptocurrency transactions and institutions that facilitate them under the ambit of money laundering and counter-terrorist financing laws. This is one of the reasons why government will not take the risk on accepting cryptocurrency as global money.
Okay, let's imagine this survey is accurate then ban crypto currencies everywhere (impossible BTW),will all the terrorism and crimes stops?Many of the warnings issued by various countries also note the opportunities that cryptocurrencies create for illegal activities, such as money laundering and terrorism. Some of the countries surveyed go beyond simply warning the public and have expanded their laws on money laundering, counterterrorism, and organized crimes to include cryptocurrency markets, and require banks and other financial institutions that facilitate such markets to conduct all the due diligence requirements imposed under such laws. For instance, Australia, Canada, and the Isle of Man recently enacted laws to bring cryptocurrency transactions and institutions that facilitate them under the ambit of money laundering and counter-terrorist financing laws. This is one of the reasons why government will not take the risk on accepting cryptocurrency as global money.
No right! then blaming cryptos for something which is in control of government is stupidity.
They are only talking about the negative side of crypto currencies in which it can be use freely by money launderer and terrorism, in which we cannot deny it as crypto currencies can be used by anyone.
Other reason why the government will not take the risk in accepting crypto currencies is they are afraid that they cannot tax the crypto currencies and they cannot earn from it. But for those open minded government, they are taking the risk in accepting it as they know the capability of crypto currencies in the near future.
Other reason why the government will not take the risk in accepting crypto currencies is they are afraid that they cannot tax the crypto currencies and they cannot earn from it. But for those open minded government, they are taking the risk in accepting it as they know the capability of crypto currencies in the near future.
That is a figment of people who are against Bitcoin, of people who do not understand Bitcoin, of people that are not enough educated. Bitcoin is pseudo anonymous and you can always track the transactions...
According to the world survey: https://www.loc.gov/law/help/cryptocurrency/world-survey.php
Many of the warnings issued by various countries also note the opportunities that cryptocurrencies create for illegal activities, such as money laundering and terrorism. Some of the countries surveyed go beyond simply warning the public and have expanded their laws on money laundering, counterterrorism, and organized crimes to include cryptocurrency markets, and require banks and other financial institutions that facilitate such markets to conduct all the due diligence requirements imposed under such laws. For instance, Australia, Canada, and the Isle of Man recently enacted laws to bring cryptocurrency transactions and institutions that facilitate them under the ambit of money laundering and counter-terrorist financing laws. This is one of the reasons why government will not take the risk on accepting cryptocurrency as global money.
What is being invested in the concept of global money is completely unclear to me. In any case, no state would ever switch to using only cryptocurrency. Each state will always use its national money and along with them will allow the circulation of cryptocurrency, however, it will not actively support it.Many of the warnings issued by various countries also note the opportunities that cryptocurrencies create for illegal activities, such as money laundering and terrorism. Some of the countries surveyed go beyond simply warning the public and have expanded their laws on money laundering, counterterrorism, and organized crimes to include cryptocurrency markets, and require banks and other financial institutions that facilitate such markets to conduct all the due diligence requirements imposed under such laws. For instance, Australia, Canada, and the Isle of Man recently enacted laws to bring cryptocurrency transactions and institutions that facilitate them under the ambit of money laundering and counter-terrorist financing laws. This is one of the reasons why government will not take the risk on accepting cryptocurrency as global money.
A decentralized cryptocurrency for circulation within each state will necessarily be subject to regulation, including with the aim of combating the laundering of dirty money and the financing of terrorism. Therefore, the FATF already on June 21 announced its recommendations on this matter and more than 200 states are obliged to introduce them into their national legislation throughout the year.
I get sick any time i see people making an accusations regarding cryptocurrency been used for money laundering and terrorism. These two crime acts existed long before cryptocurrency had even been thought of. And moreover, all transactions made of the blockchain network are public and can't be deleted. This means that all transactions can be easily traced. Blockchain technology can be used to track and catch these people easier and faster if you know where to search.
Jump to: