Topic: Money laundering tools - page 8. (Read 2509 times)
Bitcoin is not a tool for money laundering. I have used it to buy things. Maybe not as many different things as cash, but a lot of things, such as computer parts. Also people use it as a donate to different things that accept Bitcoin as a donation.
The nature of Bitcoin has given criminal activities a liking for it. Many global regulators are concerned that digital currencies may be vulnerable to money laundering or the illegal purchase of weapons and drugs.
Bitcoin transactions still have at least an electronic record to check. There is no more traceless, more difficult-to-track transaction than cash.
Bitcoin transactions still have at least an electronic record to check. There is no more traceless, more difficult-to-track transaction than cash.
bitcoin is considered to be non-compliance with the principle of anti money laundering. the skyrocketing phenomenon of Bitcoin prices makes it a lucrative investment commodity. On the other hand, however, this increase makes Bitcoin an invaluable currency. Bitcoin, whose current value continues to rise makes it more valuable as an investment commodity.
It is not a money laundering tool. Many normal investors are investing money it, you can find thousands of them on this forum itself.
Not true if only used for negative purposes. Many positive effects by using bitcoin. money laundering is just a diversion. And government concerns if legalizing bitcoin. whereas bitcoin widely changes the economy of many people. essentially financially to be better I guess.
In my opinion, BTC is not a traditional currency like gold and silver because it does not have any use value, so it is not a credit currency. It's basically just one use, money laundering tool. The tool explains why bitcoin prices are spread across the country and abroad. Domestic money is changed into bitcoins and then physical transportation to overseas exchange for foreign currency escapes regulation and the cost of money laundering is lower than before, and the risk is low.
Bitcoins has been exploited in many ways by organizations and many people, it may in fact be one
effective and efficient tool at that but that isn't Bitcoin's main purpose. It's not even bitcoin's fault,
this innovative solution is so far more capable of offering solutions, it depends on how people use
it and that's where it gets associated and got involve in numerous criminal transactions and activities.
But that's about to change soon, regulation will lessen some of the illegal stuff and a lot of governments
are aware of such things.
I find that it can be kind of difficult to money launder using Bitcoin, since where are they going to sell it? Coinbase? Places like Coinbase have to follow country laws. People on the street? Not liquid enough.
Cash is still the best for this.
Cash is still the best for this.
Yes that’s true. Cryptocurrency can be used for money laundering. In fact four primary areas of criminal activity lend themselves to cryptocurrency: tax evasion, money laundering, contraband transactions, and extortion. This is the reason why many countries are against cryptocurrencies. But I think that’s the fault of people and not Bitcoin that they are using this wonderful technology for such illegal motives
The use of crypto have become a way to facilitate these kinds of criminal activities. It’s sad that bitcoin has become associated to these and has given it a bad name. Criminals have taken advantage of the anonymity of bitcoin and the fact that it’s decentralized. It would also be hard for the police or investigating bodies to trace so its preferred by the criminals.
Putting money illegally into the financial system, in other words depositing money The process of accumulation and revolving funds after they have penetrated the financial system The accumulation and revolving process the money after they have penetrated the financial system
Bitcoin has no value ? clearly you dont know anything about bitcoin. Are you a paid FUD spreader ? because people wont believe you here in this forum cause we know that bitcoin has a value like gold and dollar. In fact the current value of it is $6627 because investors trust it and the source of it's value are miners.
I think bitcoin can not be made as money laundering because every time we turn a bitcoin into a fiat, it has a certain maximum number of limits that can be done. so on a scale we can not exchange bitcoin into fiat with a large amount because there is a maximum limit possible way that can be done is transferring on some wallet account from many bitcoin assets owned.
I mean just like anything it can be used for bad things. But you're sounding like the media back in the day, making it seem as if only money launderers are using it. As least that's how it's going to make it seem.
I think this is not really the case. This is not absolutely true. With bitcoin the users become anonymous but only to a certain point. If you exchange your money back to fiat currency then it is possible that your identity can be known. I am sure that if you are a person of interest and they want to track you for money laundering you will certainly be caught if you will be converting your bitcoin back to fiat because exchanges have your identity at their disposal. There are KYCs just like in our locality.
Mostly people taking advantage of being anonymous and of fast and easy transactions using BTC. Actually, criminal activities and money laundering are existed already since before crypto arrives. Isn't good to put blame on crypto existence of having these events, but sadly its getting worse when people started to adopt this new form of currency. Government regulations will be a big help to minimize laundering activities using cryptocurrency.
Digital money is not taxable and anonymous so you can hide your resources to avoid government taxes, Yes you are right many individuals using crypto only for illegal activities like you said but i think in several decades government accepting crypto for gaining taxes that can big help for the country.
Mostly people taking advantage of being anonymous and of fast and easy transactions using BTC. Actually, criminal activities and money laundering are existed already since before crypto arrives. Isn't good to put blame on crypto existence of having these events, but sadly its getting worse when people started to adopt this new form of currency. Government regulations will be a big help to minimize laundering activities using cryptocurrency.
Money laundering is the conversion of illegal money into legal money by some means!
Really want to launder money, antiques, stocks, insurance are much better than Bitcoin!
BTC is a good choice for transferring assets!
If the whole world start using a single currency throughout the world, then i do not think that we will feel any need for money laundering, it is only because that some time people make illegal money in their country so they want to keep them safe outside of their country so they send their money through money laundering which is consider as illegal way of sending your money out of your country. Really want to launder money, antiques, stocks, insurance are much better than Bitcoin!
BTC is a good choice for transferring assets!
The problem is not btc, but people. Blushing has existed for many years before btc appeared, and there is no sign of abating.
Bitcoin is not completely anonymous. Just follow the Bitcoin wallet and check the criminals' information through the exchange to find the criminal.
Bitcoin is not completely anonymous. Just follow the Bitcoin wallet and check the criminals' information through the exchange to find the criminal.
Each and everything has got a advantageous part, similarly it too has got a disadvantages part. It is our responsibility to choose the required one. If money laundering has never happened over the past and with bitcoin existence it came to the world means we can say bitcoin is bad. Money laundering is found high through fiat தான் bitcoin which shows bitcoin too is used based on the feature it has got.
I have heard also, that bitcoin was involved in many criminal issues, but only this fact doesnt make bitcoin evil, it is people, who use it in the wrong way.
This is right. Bitcoin is being used in different criminal activities like human trafficking, drug smuggling and many more. But with this, we can’t just say this bitcoin is harmful. No, there are more advantages associated with this coin rather than those evils. So better is to make yourself equipped with best knowledge and then make fantastic improvement in this world. Make your life
It is not a money laundering tools. All exchanges require KYC for big investments, you can in fact buy gold without receipts.
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