this post was submitted on 30 Mar 2024
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You can’t money launder with bitcoin. The whole purpose is that everything is traceable.
That is how you launder money with art and Bitcoin.
Because it's normally suspicious if someone gives $1mil for no reason, but if you know it's for a monkey jpeg, then it's normal.
I have no idea if it attracted the attention of any regulatory body but yeah that's pretty much how it went down as far as I know
That’s not how it goes. Laundering works because you don’t have to report the sale, you just have to report the income. If you can track the sale then laundering never will work.
This has got to be the most naive statement on crypto and laundering. Crypto are so easily laundered not because of traceability but because of the huge and rapid swings in value, Unexpected wealth is easily justified. Large sums are easily laundered by scripting thousands of transactions.
https://syntheticdrugs.unodc.org/syntheticdrugs/en/cybercrime/launderingproceeds/moneylaundering.html