Re:Binance's books are a black box, filings show, as it trie...
by csomar on Monday December 19, 2022 @10:49PM
(#34061306)
> I get that you'd need evidence, but wouldn't crypto be the perfect space for dark money?
It should/could/is. However, there are two things you need to understand:
1. Crypto is mostly a young people game. Who happens to be quite broke. The people who have money where I'm from, are not comfortable with crypto. They'd rather deal cash, real estate, gold or valuable objects.
2. You can't launder money with crypto. You can only launder money with something that has an off-ramp. For now, crypto acceptance is very limited. The number of places, stores and businesses that accept crypto is quite minuscule that you almost always need an off-ramp into the traditional financial system. And that's where the laundering will happen, and is happening.
It should/could/is. However, there are two things you need to understand:
1. Crypto is mostly a young people game. Who happens to be quite broke. The people who have money where I'm from, are not comfortable with crypto. They'd rather deal cash, real estate, gold or valuable objects.
2. You can't launder money with crypto. You can only launder money with something that has an off-ramp. For now, crypto acceptance is very limited. The number of places, stores and businesses that accept crypto is quite minuscule that you almost always need an off-ramp into the traditional financial system. And that's where the laundering will happen, and is happening.