Post
Topic
Board Bitcoin Discussion
Re: Some gamblers have been arrestes in Bangladesh for money laundering through bitc
by
audaciousbeing
on 28/07/2020, 08:00:57 UTC

I sometimes sell BTC in local market through the help of some facebook group. I never felt that I am in risk but for the first time, it seems like we are actually risking ourself a lot of by selling BTC to unknown. What if they get a trace of ourself and link us with such transactions? Would we be also get punished? For your info, we had to use our mobile number to continue dealing.

Selling to unknown people actually puts you at risk which is one of the reasons why the noose around KYCs is on the rise. Its not always about stifling freedom but sometimes its about protecting that freedom which we have all come to enjoy. A lot of people have entered the crypto industry and continued to use the technology for nefarious activities and that has made the work of law enforcement more difficult which is why when they manage to get one or two people, they tend to use it as a means of sending message rather than punishment.

As a way to stay out of trouble, the best approach is either you transact with people you know or carry out transactions on reputable platforms although the rate might be lower than selling directly but its way better than having a run with law enforcement agents.