Comment by thelastgallon
2 days ago
Crypto replaces all other money laundering schemes. This is the only use case for crypto. Easiest to hold anywhere, move across borders, don't even need freeports or anything physical.
Crypto is also the currency of corruption. Easiest way to pay/accept bribes by creating $myshitcoin.
Not really.
Most cryptocurrencies are open ledgers, quite easy to trace and track the movement of funds.
Pretty much every exchange for on/off ramping funds must comply with KYC and anti money laundering regulations. They use tools such as Chainanalysis (which analyses such addresses) and also reports back to governments.