Post
Topic
Board Gambling discussion
Re: Money laundering in crypto casino
by
Fortify
on 29/12/2024, 21:10:24 UTC
We all know the recent issue about the mixer status here in the forum. Crypto casino is also being use for money laundering by some criminals that’s why every casino has AML policy.

I’m just curious what will be the fate of crypto casino once money laundering activity from mixer will jump to casino now that mixer will not be advertised here which means it has less exposure. Is there any possibility that crypto casino will be seized by the government just like what happened to mixers in case they failed to screen the laundering activity?

The thing with mixers is they only had one use: that is to disguise funds by taking them from once source and "cleaning" them by paying out from a different source. That is the very definition of money laundering, which is why they were chased and shut down by every financial regulator who could find them. They might have come up with other claims, such as trying to keep the anonymity of Bitcoin, but they earned fees from every transaction so it was in their interest to keep them up as much as possible. Casinos like you say, have much more stringent anti money laundering controls because they were historical such a big avenue for criminals to wash their money and now the authorities know all the tricks, so they are generally more respectable.