Quote from: FlamingFingers on March 29, 2017, 09:02:25 PM

Quote from: pruchol22 on March 29, 2017, 08:55:08 PM

ok so if u didnt steel money... just invested it in bitcoin then traded for exmaple: monero or dash and sold it for a lot more is not considered money laundry? am i correct?

No, it is not considered money laundry. It's just an investing/trading action, ...
Of course, if your money is hard-earned.

FlamingFingers is correct.
If the money you use for crypto trading is your money from legal means,
then it usually does not fall under "money laundering".

In this case, money laundering only exists because it is NOT your money but you
are trying to hide it from any criminal investigators.

Quote from: olubams on March 29, 2017, 09:04:45 PM

Quote from: pruchol22 on March 29, 2017, 08:55:08 PM

ok so if u didnt steel money... just invested it in bitcoin then traded for exmaple: monero or dash and sold it for a lot more is not considered money laundry? am i correct?

It will only be considered money laundering to the best of my knowledge if you are trying avoid paying the necessary dues to government.
... you must be ready to explain where it came from [or] else it will be regarded as money laundering so its all about disclosure and what the law says...

Olubams is correct here as well, but for a different reason than above.
The distinction is that if you need to pay taxes on some type of your money
and instead you do not pay your taxes and invest that money into cryptocoins
in order to help hide this money and prevent "pull backs" and etc., then you
are tax evading by money laundering.

In this case, money laundering exists because it is your money but you are trying
to hide the taxable assets from your government.

**Also, as a reminder, in some jurisdictions, you do not need to pay any taxes on your
cryptocoins UNLESS you convert your cryptocoins back into fiat. It is your responsibility
to keep track of your gains and losses over the years, and if you "cash out" your coins for
fiat, you are required by law to declare your gain or losses in that year's taxes.