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> There is no compelling evidence they are 'rampant money laundering machines'. Reggie Fowler and Crypto Capital were convicted of money laundering for crypto
by qeternity 6y ago
> There is no compelling evidence they are 'rampant money laundering machines'.
Reggie Fowler and Crypto Capital were convicted of money laundering for crypto companies just a couple years ago. This was Bitfinex’s bank, which caused big balance sheet problems for iFinex and likely spawned the current era of the Tetheral Reserve.
Compelling evidence? The biggest exchanges’ banks are being thrown in jail for laundering. I’m not sure how much clearer it could be.
- CryptoPunk 6y agoBeing convicted of violating anti-money laundering laws is not proof that they engaged in money laundering. Like I explained, to prove money laundering occurred, you have to prove that money was generated in a criminal enterprise, which would require the party who provided the funds to be convicted in a court of law of some crime that generated the income. In the vast majority of cases where a financial intermediary is convicted of violating an anti-money laundering law, this doesn't happen. It would make discussions more constructive if you read the comment in full before responding to it.