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I suspect existing anti-money-laundering law will cover this somehow. Outfoxing governments through technical cleverness rarely (but sometimes!) works in perpe
by ISL 5y ago
I suspect existing anti-money-laundering law will cover this somehow. Outfoxing governments through technical cleverness rarely (but sometimes!) works in perpetuity.
An example: If any future >$10k transaction can be traced back to a wallet that you control (it wouldn't matter how you got the funds, only that you transferred them), then you'd be on the hook.
- gruez 5y agoBut why would you want to take (presumably) clean fiat on your coinbase account, exchange it for crypto, launder it, only to transfer back to your coinbase account? I'd presume anyone doing this is going to use the laundered money for illegal stuff, or at least transferring to some sort of offshore jurisdiction for tax evasion purposes. In both cases it won't be tied back to you.
- ISL 5y agoWhen The Man gets a warrant to monitor your communications, arrests you, takes all of your electronic devices, and then chats with your friends and colleagues, there is a chance that they might uncover your "hidden" wallet. Or, in the case that The Man gets a copy of the overseas bank's records with your name on it and a long and credible-looking list of transfers from wallets that match the amounts put into the mixer, it is going to look real suspicious. Investigators are smart people with many tools at their disposal.