hi, I started this subthread. it is very easy to money launder with crypto and isn't the crux of my argument. my argument is simply that this case is about unregistered futures and swaps being traded in US jurisdiction, and that its not about aml/kyc.
to your question, "if you can't withdraw USD?" is very limiting and seems based on heavy misconceptions about both money laundering and a limited idea of utility of crypto, not sure where to start there. the other person's response talks about reintegration which is a very accurate tip of the iceberg. layer and reintegration is much easier with crypto.
Its not and for you to write that you didn't really visualize what I described
At the bare minimum you should realize that any KYC’d individual can convert billions of dollars of crypto to US Dollars in a day without moving the markets more than a few percent
and after that you should realize that classifying a transaction as clean is not difficult
But if you don't want any transaction associated with anyone’s identity it is simply more time consuming, eventually you are still getting to a KYC’d individual that can receive a wire transfer in dollars at any meaningful amount in a day
And finally, you can try to reread what I wrote earlier, jot the steps down on a napkin if you need to, its not that complicated you are just starting from a place that assumes an omniscient state and a culture of stigmatizing the movement of money, and thats just flawed
based on your comments, this all seems pretty pointless. why mess with binance when you could just use a distributed service like coinjoin. Seems like money laundering is easy!
> And finally, you can try to reread what I wrote earlier, jot the steps down on a napkin if you need to
give me a break bud. talking down to people makes me assume you're clueless.
to your question, "if you can't withdraw USD?" is very limiting and seems based on heavy misconceptions about both money laundering and a limited idea of utility of crypto, not sure where to start there. the other person's response talks about reintegration which is a very accurate tip of the iceberg. layer and reintegration is much easier with crypto.