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This might sound like a dumb question but wouldn't that require bitcoin to be classified as money rather than a commodity?
by internet101010 3y ago
This might sound like a dumb question but wouldn't that require bitcoin to be classified as money rather than a commodity?
- Ajedi32 3y agoI'm not a lawyer, but yeah it certainly does seem that way based on how the law is worded. I wonder if Sterlingov's lawyers tried that argument in court.
- banannaise 3y agoNo. You can launder money using anything that works as a transferable, divisible store of value. You just have to be able to break it down into smaller pieces and exchange the "dirty" pieces for "clean" ones. The bitcoin is just the vehicle for the laundering, and the mixer is basically just a money laundering machine. (You can use it to exchange clean assets for other clean assets, but if you start with dirty ones, you're money laundering.)
- Ajedi32 3y ago18 U.S. Code § 1960 isn't about money laundering though, it's about "unlicensed money transmitting businesses".