6 ms·
It wasn't impossible before, but with BTC/ETH it's far easier to launder money. With a Cryptocurrency tumbler [1] it's almost untraceable. Previously, you had
by Pilfer 9y ago
It wasn't impossible before, but with BTC/ETH it's far easier to launder money. With a Cryptocurrency tumbler [1] it's almost untraceable.
Previously, you had to carry the cash yourself, or use a service to transfer the wealth for you (through falsified business transfers, casinos, diplomats, flight attendants, etc.) Now you don't need all that, you can practically do it yourself. There are less people involved and it's harder to trace.
[1] https://en.wikipedia.org/wiki/Cryptocurrency_tumbler https://en.wikipedia.org/wiki/Cryptocurrency_tumbler
- wheelerwj 9y agono, this is just plain wrong. the amount of controls in place, banking hosyility, and the market liquidity make digital currency terrible options for laundering.
- scottmp10 9y agoCompared with cash, digital currencies are much harder to launder. It will be obvious when you try to cash out that the money went through a tumbler. With cash, you always have plausible deniability unless you were physically seen receiving it in some illegal manner.