4 ms·
At least with respect to US federal money laundering laws (18 USC 1956, et seq.), there needs to be “specified unlawful activity”, as defined, involved for it t
by FateOfNations 3y ago
At least with respect to US federal money laundering laws (18 USC 1956, et seq.), there needs to be “specified unlawful activity”, as defined, involved for it to be money laundering.
Running a legal porn site isn’t illegal.
- codetrotter 3y agoI think what they are saying is that the counter-party in the in-person BTC/USD trade could have gotten those USD in an illegitimate way, and that by accepting those USD in exchange for BTC you’d be partaking in money laundering.
- Rufbdbskrufb473 3y agoIs there really a legal responsibility placed on an individual selling BTC for cash to verify the source of funds? I assumed that wouldn't be necessary if not operating like a business with the intention to turn a profit. If I sold my car for cash, would I have the same responsibility?