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RE: G20: Presumably No Global Regulations Of Bitcoin And Cryptocurrencies
I really don't understand the money laundering argument for cryptocurrency. At the end of the day, the person has to cash out via fiat which if the value is over x will automatically trigger most financial institutions to report to AML authorities. It doesn't matter if it is cash or crypto it is the same result. In both cases the person will need have to prove why they received such a large sum of money and what is the source.
Fears overblown, in my opinion.
There are way better ways to wash money instead using cryptos and the money laundering argument shows me that they have not understand cryptos yet.
Yep, agree!
This way the governments are trying to hide an open secret. That using the current financial system criminal launder the most.