4 ms·
> so they're still going to be doing the BTC->XMR->BTC->exchange swap in order to hide their identity. Wouldn't this just shift the risk to the exchanges who a
by Namidairo 6y ago
> so they're still going to be doing the BTC->XMR->BTC->exchange swap in order to hide their identity.
Wouldn't this just shift the risk to the exchanges who are now holding tracable proceeds of crime?
To my knowledge, there is at least some amount of identity verification on the major exchanges, so presumably that they're fronting with stolen identity documents and the exchange is the one "holding the bag" so to speak?
- capeterson 6y agoMmm it's not too hard to get use a decentralized exchange to get cash overnighted for BTC sent to a PO box that was made with a fake name and cash. You can't really spend/deposit that cash easily, but at least it's not crypto anymore. Also, it's pretty much impossible to fraud Coinbase/Gemini/etc. since you need to hook it up to your bank account, right. Ergo, no one is sending BTC (even if it's "clean") to an exchange hooked up to their bank account. If someone is thorough it's highly unlikely that clean BTC will get them imprisoned, but the IRS might take a hefty cut that vendors of course would prefer to circumvent. Many vendors also don't cash out until they're completely clean, if they can afford to.