Can bitcoin money laundering be carried out by criminals?

Another avenue through which criminals can undertake bitcoin money laundering is unregulated cryptocurrency exchanges.

What is anti-money laundering?

Anti-Money Laundering (AML) is the process of detecting and disrupting money laundering and terrorism funding activities. Two laws are the foundation of the US efforts to combat money laundering. The first is the Bank Secrecy Act of 1970 (BSA).

What is crypto money laundering?

Money laundering, which includes criminals trying to hide the proceeds of their illegal activities by converting them into crypto (spoiler: it doesn’t work); Darknet marketplaces, or hidden sites where users buy and sell drugs, stolen credit card details, and other illegal goods for crypto.

What are bitcoin money-laundering strategies?

Under this typology, as Europol has observed, criminals can use bitcoin networks to launder illegally obtained fiat currency by selling the fiat for bitcoin in one location, then exchanging the bitcoin for fiat somewhere else, as payment for illicit services. These represent just a couple examples of bitcoin money-laundering strategies.