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If my business wants to sell me a token for $5M, that should be my right. The real crime is how I got that $5M, not that I decided to put it into another busine
by MichaelGG 9y ago
If my business wants to sell me a token for $5M, that should be my right. The real crime is how I got that $5M, not that I decided to put it into another business.
Where's the fraud? If I want to run a pizza shop and record a million orders to myself that I never actually deliver, so what?
- openasocket 9y agoIf you record a million orders to yourself, that's not money laundering. Though, unless you already paid tax on that money you're using to purchase the "pizzas," you are committing tax evasion. Because you're essentially giving pre-tax dollars to your private company.
- MichaelGG 9y agoUntil the million orders are paid with by the money I made illegally?
- openasocket 9y agoI mean yeah. Money laundering is just tax evasion and fraud with illegally gotten money. We treat it differently than regular tax evasion because it's a more serious crime, much like how pre-meditated homicide is treated differently than regular homicide. Does that make sense?
- MichaelGG 9y agoNo. You've got the tax evasion (if any - certainly you could set it up so you're paying the full taxes) plus the illegal activity, so two crimes already there. In fact, it's less serious for society if you launder it, because then you're paying taxes on money you wouldn't otherwise pay taxes on.