Is crypto currency a money laundering scheme?

jehova · 2026-02-05T21:26:39-05:00

Scams & Pyramid schemes - Is crypto currency a money laundering scheme? I think so! It’s being used for crime and... (11 replies).

Poll - Total Votes: 11

Yes laundering money

Yes for sex trafficing

50:50 / unsure

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You may vote on multiple answers, up to 2.

I think so! It’s being used for crime and probably sex trafficking. All to avoid taxes
You get Two votes.

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Nitedoc · 51-55, M Best Comment

It's more like a ponzi sceme.

Nitedoc · 51-55, M

@Nitedoc Thank you for Best Comment!

HoeBag · 51-55, F

I said unsure. I would figure if it were anything real legit, major corporations would accept it as payment. But no, it seems to be popular on shady sites like craigslist or with overseas scammers trying to blackmail people.

It is kind of we*rd though how some gas stations have ATM's that sell it.

ArishMell · 70-79, M

Not itself, no, but it is unofficial and no-one seems to have the courage to clamp down on it, better still put it out of existence; so it is ripe for criminal uses.

The crimes may include sex-trafficking and pornography but those probably forming a small proportion of the total illegality.

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jehova · 36-40, M

@jshm2 that would interpret whether or not laundering money is good or bad, that’s not the question. Although laundering money escapes taxes which is a negative for nearly everyone; except the individual; not paying taxes. The question is, IS cryptocurrency utilized to launder money? Which may or may not involve sex trafficking. Yes or no? Or it’s unclear. Hence the question exists!

PicturesOfABetterTomorrow · 41-45, M

Largely yes. Partly because it is a rich man's game and it is the wild west so it appeals to the more criminal element.

CountScrofula · 41-45, M

Crypto currency is barely used as currency at this point. Its just used for financial speculation. Basically its like poker chips at this point.

jehova · 36-40, M

@CountScrofula so where gambling might be a money laundering mechanism cryptocurrency could be too?

CountScrofula · 41-45, M

@jehova I would be shocked if it wasn't used extensively for money laundering. I don't know if it is, I just assume it is.

SunshineGirl · 36-40, F

A largely unregulated financial system is an obvious destination for money launderers.

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