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I am wrong, or the dollars should be already laundered before they reach MtGox? You have to transfer them from a bank account, right?
by vrotaru 15y ago
I am wrong, or the dollars should be already laundered before they reach MtGox?
You have to transfer them from a bank account, right?
- weavejester 15y agoNo, you could buy bitcoins with unlaundered dollars, even with a credit card, and then launder the bitcoins themselves so that when you spend them they can't be traced back to the account you bought them with.
- hnsmurf 15y agoYou can do that but it would serve no purpose. If you bought $100k bitcoins on a credit card, now the IRS has a paper trail. They'll want to know where that $100k you paid the credit card bill came from. Even if you got the money in without being traced and spent them that's not laundering, it's tax evasion.
- weavejester 15y agoAh, I misunderstood what was being proposed.
- hnsmurf 15y agoYou are not wrong, unless there's some way to buy bitcoin by cash or some other untraceable means (Western Union?). I think many people are confusing laundering with other things like tax evasion. They're distinctly different.