Is it possible to do money laundering via bitcoin? I mean as no one knows if you have bitcoin and how much bitcoin do you actually own, it could be used to convert black money to white right? Or at least store your black money without much hassle. But there is the risk of its value but I think for people who have lots of black money and don't want to be caught, this risk might be worth taking for them isn't it?
What are your thoughts?
Money laundering is really possible for Bitcoin because it is also a currency or a money. In fact some countries are hesitant to adapt Bitcoin investment because of money laundering but thanks to the regulation in which money laundering using Bitcoin is now controllable. Latest News from Poland regarding money laundering activities but was foiled.
https://www.google.com/amp/s/www.bloomberg.com/amp/news/articles/2019-10-25/crypto-capital-official-nabbed-in-polish-money-laundering-probeBitcoin is actually regulated as a commodity but sometimes also regulated as a virtual currency. Money laundering is less than ideal with bitcoin because all transactions are visible on the blockchain unlike fiat currency. It's in fact easier to launder money using fiat than it is using bitcoin, and so far none of the AML regulations for fiat currency has made any real dent against money laundering. It's only hurt SMEs due to all of the paperwork they need to deal with.