This has got to be the most naive statement on crypto and laundering.
Crypto are so easily laundered not because of traceability but because of the huge and rapid swings in value, Unexpected wealth is easily justified.
Large sums are easily laundered by scripting thousands of transactions.
That’s not how it goes. Laundering works because you don’t have to report the sale, you just have to report the income. If you can track the sale then laundering never will work.
It was not ‘pictures of monkeys’ it was art. It was digital art. If you don’t get that then you don’t understand money laundering.
Monkey laundering.
Coming to FX next this fall
Sitcom of chimps in the big city running a shady laundromat.
Run this on Adult Swim and I’ll consider watching it.
How much can a virtual banana cost, Michael? Ten dollars?
I read that as monkey laundering
You can’t money launder with bitcoin. The whole purpose is that everything is traceable.
This has got to be the most naive statement on crypto and laundering. Crypto are so easily laundered not because of traceability but because of the huge and rapid swings in value, Unexpected wealth is easily justified. Large sums are easily laundered by scripting thousands of transactions.
https://syntheticdrugs.unodc.org/syntheticdrugs/en/cybercrime/launderingproceeds/moneylaundering.html
That is how you launder money with art and Bitcoin.
Because it’s normally suspicious if someone gives $1mil for no reason, but if you know it’s for a monkey jpeg, then it’s normal.
I have no idea if it attracted the attention of any regulatory body but yeah that’s pretty much how it went down as far as I know
That’s not how it goes. Laundering works because you don’t have to report the sale, you just have to report the income. If you can track the sale then laundering never will work.