Why i often advise against jumping into 'random' but entrapping questions.

[wellington]

DOJ indictment today: https://www.justice.gov/usao-edny/press-release/file/1562996/download

 

[bamboozlethemall]

because you watched Sean Connery's "Entrapment" many times.

 

[bubbledouble]

The user asked for advice about stealing and laundering cryptocurrency from these acquaintances

I think, if they go to quora they can read about this every day!

 

[Marzio]

I wonder why they talk CIS exchangers like Bitzlato if Bitzlato is registered in HK?

In any case i can see why Georgian banks are so afraid of foreign payments.

 

[RealDude]

U.S. arrests Bitzlato cofounder, alleges $700 mln of illicit funds processed​

Anatoly Legkodymov, a Russian national living in China, was arrested in Miami on Tuesday on charges that he operated the exchange as an unlicensed money exchange business that "in his own words, catered to 'known crooks,'" a top Justice Department official said.

Bitzlato has processed $4.58 billion worth of cryptocurrency transactions since May 3, 2018, prosecutors said, adding a substantial portion constitutes "the proceeds of crime."

https://www.reuters.com/business/fi...lato-ltd-money-laundering-concern-2023-01-18/

 

[MME]

U.S. arrests Bitzlato cofounder, alleges $700 mln of illicit funds processed​

Anatoly Legkodymov, a Russian national living in China, was arrested in Miami on Tuesday on charges that he operated the exchange as an unlicensed money exchange business that "in his own words, catered to 'known crooks,'" a top Justice Department official said.

Bitzlato has processed $4.58 billion worth of cryptocurrency transactions since May 3, 2018, prosecutors said, adding a substantial portion constitutes "the proceeds of crime."

https://www.reuters.com/business/fi...lato-ltd-money-laundering-concern-2023-01-18/

Take a look at the analysis this guy on Twitter posted:

https://twitter.com/x/status/1615858495458254850

Important parts:


You NEED to understand: they try to create a precedent:
- No platform should let people trade without a #KYC
- If you contribute to P2P exchange you may face charges
- Criminalization of P2P trades

Do crypto, but you HAVE TO be fully KYC'd and use a trackable intermediary
Privacy and confidentiality are in great danger. People are making fun of #Bitzlato but it was an easy pick that they can justify in the name of good against evil (Russia, Darknet...)

while you're laughing at them they're placing their pieces on the chessboard.

Soon, they will make people process that if you are not using CBDC, not fully identifying, or trying to make private transactions, you are a criminal.



As citizens of the world, we need to learn from our mistakes during the COVID-19 lockdowns and make an active effort in ensuring the future of finance is just.

 

[MiddleEuroAsia]

I wonder why they talk CIS exchangers like Bitzlato if Bitzlato is registered in HK?

because they've dealt with Americans, even though they said that they do not.
There is a reason there are lots of financial institutions in the east and else where that do not deal with any thing US related, be it an individual or a business.

 

[Marzio]

There is a reason there are lots of financial institutions in the east and else where that do not deal with any thing US related, be it an individual or a business

Probably the best way to deal with USD is not have USD leave US

 

[MME]

Probably the best way to deal with USD is not have USD leave US

Lets say US imposes huge capital controls that prevents the USD to be transferred internationally.

You can only spend your USD within US borders.

How would you get your money out?

 

[JohnnyDoe]

Lets say US imposes huge capital controls that prevents the USD to be transferred internationally.

You can only spend your USD within US borders.

How would you get your money out?

You wouldn’t really care much, because when this happens you will already be holding btc instead of USD.

 

[MME]

You wouldn’t really care much, because when this happens you will already be holding btc instead of USD.

True. But if it weren't, how would you do it?

 

[JohnnyDoe]

True. But if it weren't, how would you do it?

You would buy btc or xmr for USD in the US.

 

[MME]

You would buy btc or xmr for USD in the US.

Crypto is banned.

This is a real problem today, with the US as a placeholder for the actual country in question

 

[JohnnyDoe]

Crypto is banned.

This is a real problem today, with the US as a placeholder for the actual country in question

Crypto for private use is not banned in China, and even if it is banned in a certain country that doesn’t impede you to buy it.

 

[MME]

Crypto for private use is not banned in China, and even if it is banned in a certain country that doesn’t impede you to buy it.

There are no exchanges within this jurisdiction, and you have your state-sponsored dollars that cannot be transferred outwards.

Anyone with money already outside of this country would not want it back in. So what do you do with your dollars?

This example could even be of Rubles.

 

[MiddleEuroAsia]

There are no exchanges within this jurisdiction, and you have your state-sponsored dollars that cannot be transferred outwards.

Anyone with money already outside of this country would not want it back in. So what do you do with your dollars?

This example could even be of Rubles.

Buy other investments that holds it's value quite well and are liquid. I would buy gold and ship it offshore and sell it there for my preferred currency.

 

[TheCryptoAnt]

There are no exchanges within this jurisdiction, and you have your state-sponsored dollars that cannot be transferred outwards.

Binance still works in CN