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What on earth is money laundering if not disguising the origin of lots and lots of physical cash? As always, a lot of this has its origins in drug trade. Money
by revelation 9y ago
What on earth is money laundering if not disguising the origin of lots and lots of physical cash? As always, a lot of this has its origins in drug trade.
Money laundering is disguising the origin in general, which is of course the point of mixing. It's not some kind of theoretical bitcoin boner exercise, it's intended so you can maybe at a later date withdraw some bitcoins without the party providing the cash (and the feds) immediately making the connection to the crime.
- dfox 9y agoMoney laundering is not about simply disguisng the origin, but about disguising the origin such that it looks like some legitimate (typically taxable) endeavor. Bitcoin mixing disguises the origin only as far as the blockchain is concerned, you still end up with X BTC that you have no explanation for how you earned them.