Topic: Money laundering via BTC - page 7. (Read 39154 times)
maybe with technological sophistication and also with the existence of bitcoin currencies because this is not related to legal legality so that it allows people to embezzle money so that it is not detected by the relevant legal entity.
Bitcoin is many places is not considered a currency or money but is called a virtual service, so in some places, it's just considered as a commodity rather than as a currency. Of course I am sure governments will try to regulate and control if they see too much money is being drained from their country.
some of the governments already make efforts to put btc into law field. I wander how will situation maintain by the end of the year.
actually, bitcoin can answer money laundering problems, we know that blockchain is a transparency technology, everything is recorded and cannot be deleted. but bitcoin is still a mystery because of the owner's anonymity. all of that can be overcome through KYC, whereas we know that people who hold bitcoin still need to be exchanged fiat and fiat certainly has transfer limits in every country. I think money laundering with bitcoin is an issue.
I don't think I can do money laundering by buying bitcoin and after that sell it and your money will be white and clean, the bitcoin in your wallet can be easily tracked by anyone by looking at the wallet address, so it will be useless if doing money laundering using bitcoin, this is only a personal opinion
I also think so (about money laundering) when some officials or entrepreneurs who want to commit bribes or crimes that violate other laws by sending their money in the form of crypto to their colleagues are anonymous and this is money laundering too
Is it possible to do money laundering via bitcoin? I mean as no one knows if you have bitcoin and how much bitcoin do you actually own, it could be used to convert black money to white right? Or at least store your black money without much hassle. But there is the risk of its value but I think for people who have lots of black money and don't want to be caught, this risk might be worth taking for them isn't it?
What are your thoughts?
What are your thoughts?
It is very likely that besides being very safe, bitcoin cannot be regulated by any country.
I think that such a choice is a very attractive choice for big criminals, in a country where the level of corruptors is very large. in interest, therefore there are still many countries that reject bitcoin to become a medium of exchange directly, in developing countries for example, it is solely to prevent corruptors from being able to save money from their crimes stored in bitcoin.
Of course you can.In General, there are many ways to launder black cash.Through its own banks, investment and charitable funds, government orders, etc.But laundering through the use bitcoin think the movers and shakers of the middle class.Large bigwigs launder money through the state directly))) through military companies in the first place.Or like the Italian mafia through the Vatican for example)))))
Laundering money using bitcoin is the most freedom we are enjoying from crypto currency because it is not check by any government or controlled by their authority. It may sound very bad but this the freedom we are getting from investing in cryptocurrency using bitcoin.
You're grossly in error to think the governments are looking the other way or lacking in the mechanisms or structures to keep tabs and magnifying glasses on the Bitcoin market. On the surface, might not seem obvious, but when the need arises, tracing the person behind a transaction or an address is no longer the big deal it used to be. I think Bitcoin is the opposite of that because all Bitcoin transactions are transparent and everyone in the world can see the ongoing Bitcoin transactions.
People may not be able to connect certain individual identities to Bitcoin transactions directly, but if they find it, then they can see all the transactions you have done on the Bitcoin network. This is why Bitcoin is the wrong way if you use it for things that are not right like money laundering.
Crypto currency is quite different with fiat or physical money, bitcoin because bitcoin is digital in nature that can easily be trace in electronically means while fiat money can be hoard in your own vault like what illegal drug traders so that they can't be traced they should not transact money in bank to elude the law inforcer. People may not be able to connect certain individual identities to Bitcoin transactions directly, but if they find it, then they can see all the transactions you have done on the Bitcoin network. This is why Bitcoin is the wrong way if you use it for things that are not right like money laundering.
I think Bitcoin is the opposite of that because all Bitcoin transactions are transparent and everyone in the world can see the ongoing Bitcoin transactions.
People may not be able to connect certain individual identities to Bitcoin transactions directly, but if they find it, then they can see all the transactions you have done on the Bitcoin network. This is why Bitcoin is the wrong way if you use it for things that are not right like money laundering.
People may not be able to connect certain individual identities to Bitcoin transactions directly, but if they find it, then they can see all the transactions you have done on the Bitcoin network. This is why Bitcoin is the wrong way if you use it for things that are not right like money laundering.
Sure you can do money laundering with bitcoin but it's not something I'd recommend doing.
Is it possible to do money laundering via bitcoin? I mean as no one knows if you have bitcoin and how much bitcoin do you actually own, it could be used to convert black money to white right? Or at least store your black money without much hassle. But there is the risk of its value but I think for people who have lots of black money and don't want to be caught, this risk might be worth taking for them isn't it?
What are your thoughts?
I think that is possible, people are different. But if people who have problems with law buy bitcoin, we will not know about it. I believe that such people should be involved by the police and security services of the country. And not to block cryptocurrency. What are your thoughts?
all that can happen. corruptors can perform money laundering actions to run from a state penalty, and the money can be used to buy bitcoin or altcoin. if that happens then the government will find it difficult to track and search for evidence of crime. because bitcoin users are very difficult to track and bitcoin transactions are very difficult to identify.
It's not far from possible that criminal groups will use bitcoin for laundering.
These users prefer to have their identities remain hidden which is bitcoin's best feature. Although government could gain access on the blockchain if they decided to. But it will be difficult, like q needle in a haystack.
These users prefer to have their identities remain hidden which is bitcoin's best feature. Although government could gain access on the blockchain if they decided to. But it will be difficult, like q needle in a haystack.
Deals that can be easily done easily
actually, bitcoin has been used for money laundering years ago. besides, it is also used for criminal activities
Yeah. Offcourse this is happening and there's very few chances to locate this kind of activity, some regulations are needed to stop this kind of activity.
Of course it is possible to launder money via Bitcoin. Otherwise, Bitcoin cannot be considered the equivalent of a real currency, because the ability to launder money is a "feature" of every fiat currency.
in fact money laundering is not only done with bitcoin but can be any way, but for the case of crypto currency may be much easier because the existing system is global is not affected by one of the countries, so the current era is indeed the criminals who use that way, but it may be difficult in a country where the financial system is very tight and very well integrated, such as japan and other developed countries.
Bitcoin is increasing used by some criminal organizations for their money laundering activities and to pay for illicit trades. There also some report that bitcoin is also used by some drug smugglers, child traffickers and other illegal activities. This is some of the reasons why countries are imposing their cryptocurrency regulation to stop or curb these illegal activities.
Of course, money laundering is also possible through bitcoin. However, one should take into account that bitcoin is only relatively anonymous and that specialists with a great desire can, with a successful combination of circumstances, reach a concrete holder of bitcoins. For money laundering, coins with a higher degree of anonymity are used. According to the conducted studies, bitcoin is used for illegal activities from within one to ten percent of cases.
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