Post
Topic
Board Bitcoin Discussion
Re: Bitcoin mixing is NOT money laundering, per se
by
franky1
on 14/05/2023, 12:02:05 UTC
Since it's illegal in both Germany and US to run an unlicensed money transmitter service, and ChipMixer was running in just about both countries, it's pretty much certain that it did break the law.

I have nowhere stated that there are no laws that prohibit such activity. I have merely argued there is no law that prohibits mixing, which is true as far as I'm concerned. In no court have I ever seen mixing being equated to some unlicensed money transmitting service's product. You can practically mix coins yourself, with absolutely no other users, even though it's not recommended for your privacy. But it is, and can obfuscate in an extent. Coinjoining is neither money transmitting.

Protocols themselves can't be classified as "money transmitting businesses". They're decentralized (non-custodial) by design. The law only applies to individuals running a mixing service all by themselves (centralized, custodial). I guess that's the reason why the US government has been hunting down centralized crypto mixers lately.

If mixer operators had a "money transmitting license" and followed KYC/AML rules, they would've nothing to fear. But that would greatly undermine a user's privacy/anonymity. Thus, decentralized (non-custodial) mixing would become the norm in the future. I'm fine with that as long as financial freedom and privacy is preserved. Just my opinion Smiley

try and read a regulation once in a while to realise what your getting into
they do actually treat currencies and protocols aswell as businesses

aswell as mixers(not only businesses that use mixers, but mixers themselves) as something to red flag but also AEC
anonymity enhanced currency

yes LN is a red flag monero is a red flag.

...
so lets summarise this entire topic
you can either ass kiss the mad hatter clan of idiots that just kiss ass whomever will sponsor them to advertise crap services.. who never do research.. but want to pretend mixers will hide you better  and there is nothing law can do to find you...

or
you can actually research for instance regulations and see that when regulations LITERALLY SPELL IT OUT FOR PEOPLE that if you use a mixer, tumbler, aec you will be red flagged and monitored, scrutinised more closely

so when regulations tell you that using a mixer gets you scrutinised more closely.. guess what.. mixers are not doing a good job to hide you. instead they are passing you a red flag to wave in the air to be spotted easier