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LocalBitcoins seems to a pretty good laundry service. Nothing's impossible but I can't figure out for the life of me how exactly anyone including governments c
by debt 9y ago
LocalBitcoins seems to a pretty good laundry service.
Nothing's impossible but I can't figure out for the life of me how exactly anyone including governments could de-anonymize LocalBitcoins.
- PeterisP 9y agoIt's nontrivial to launder, say, $100k in LocalBitcoins. The IRS doesn't care if you deanonymize tiny amounts (say, a few thousand dollars) but de-anonymizing LocalBitcoins for large operations can be easily done in the classic manner with sting operations since doing it regularly in large amounts generally is a crime even if the money is legitimately obtained. Since the major traders in LocalBitcoin inevitably are violating money laundering laws if they don't report the large cash transactions, you should expect that they can be pressured to cooperate and report on their customers in exchange for immunity or reduced penalties.
- Vadoff 9y agohttps://www.coindesk.com/9-years-localbitcoins-trader-sentenced-latest-money-transmission-case/ https://www.coindesk.com/9-years-localbitcoins-trader-senten...