Re: Why do people need to use Bitcoin for Money laundering?
Between 2004 and 2010, HSBC laundered Billions of Dollars for the Mexican Drug cartels and nobody blinked an eye. After
7 years of doing this, they got busted and they paid US$1.9bn in fines. {This could be recovered in profits, within a few
weeks} Most people saw this as a slap on the wrist for the people who were involved with this. Not one person working for the
Bank got jail time for doing this.
https://observer.news/featured/5-years-ago-hsbc-fined-record-us1-9bn/
Ross Ulbricht, was sentenced to life in prison without parole for creating and running Silk Road, which allegedly facilitated
the sale of $250 million worth of drugs.
Why are we seeing such double standards, when Bitcoin is involved?
As each coin has two sides, bitcoin too have two sides, inspite of being so useful and providing employment to millions of people around the world, also have few dark sides like we all know that bitcoin is a decentralised crypto currency and there is no such proper authentic regulating body over bitcoin who could keep eye over all the bitcoin activities and thus leading to many illegal use of bitcoin like in selling drugs, explosives, money laundering any many more and also bitcoin transactions doesnt involve any third party seizure so no third person can see the transaction between two and thus being used in money laundering.7 years of doing this, they got busted and they paid US$1.9bn in fines. {This could be recovered in profits, within a few
weeks} Most people saw this as a slap on the wrist for the people who were involved with this. Not one person working for the
Bank got jail time for doing this.
https://observer.news/featured/5-years-ago-hsbc-fined-record-us1-9bn/Ross Ulbricht, was sentenced to life in prison without parole for creating and running Silk Road, which allegedly facilitated
the sale of $250 million worth of drugs.
Why are we seeing such double standards, when Bitcoin is involved?