Not really. Money laundering is about making your money seem like they're coming from a legit source. And the best way to do that is by buying a company that's hard to trace customer's money, a casino is the prime example. No one can tell if customers spent 50k or 500k.

Converting illicitly acquired money to cryptocurrency and back to cash doesn't answer the question where did you find the money in the first place. But say you have a coffee shop, then you can claim that you sell twice as much beverages as you really do, pay the taxes and have your money cleaned.