Quote from: BitcoinPanther on Today at 09:00:26 PM

Quote from: Hispo on July 31, 2023, 11:50:08 PM

Quote from: noormcs5 on July 31, 2023, 11:22:43 PM

Quote from: QueenVera on July 31, 2023, 11:03:58 PM

Moreover this money lauderers know that the risk behind putting their money on gambling platforms and won't want to pass through the stress of these wagering requirements or kyc processes before withdrawal, they know chance of losing their stolen money is high and would seek other alternatives instead of going through those stressful processes

I understand that going through the gambling process and then fulfilling the wagering requirements can be a headache in itself but then what are the other ways of whiting the black money without any stress? I guess the other ways are even more difficult because exchanges have a lot more strict KYC policies and they would not let you withdraw if they saw anything suspicious about your account.

It is a misconception that Bitcoin and cryptocurrency are a landscape where money laundering is widespread. In fact, I would dare to say most of laundering still occurs with FIAT instead of Bitcoin and other alternative coins.

Cash continues to be the number one option for criminals and physical casinos are more appealing to them, since they have less chances of getting busted and their money being seized.

Ironically, even though this ecosystem is about total control on one's money, it is more transparent than the old tradicional one.

Despite the truth that money laundering is far greater in fiat currency, the emergence of cryptocurrency and crypto casino gives these money launderer more options to launder money. We cannot deny the fact that cryptocurrency is being exploited to launder money and most of them pass through the crypto casino to wash the traces of the transaction.

Wagering though slightly help to keep away money some launderer but it does not really stop the culprit to use crypto casino to launder money.

I am not denying that cryptocurrency can be used or is being used to launder money and assets, but I personally think if a criminal wanted to launder important amounts of money, then they would not dare to deposit an important percentage of it in a crypto casino, because they may have their money easily seized by operators. On the other hand, it is less likely they would catch the attention in a brick and mortar casino, specially if it is a big one accused to carter whales or passing tourists.

Even though, I like the concept of privacy as a human right. I know there is a good reason some of the biggest online casinos which are properly registered cannot afford to accept/support privacy enhancing coins like Monero. The laundering talking point to me also amplified by the stigma Bitcoin received in the early days. Tongue