But to buy bitcoin on an exchange, even if it doesn't have KYC laws, you'd need to have the money in a bank account first to do the wire transfer to fund your crypto exchange account. The problem of money laundering is how do you get it into the bank account in the first place. What I'm saying is that you'd have to do actual cash transactions, meaning giving someone paper money and getting bitcoin into your wallet. That's quite a problem, especially as the numbers get larger.
There are plenty of HNW individuals who want to buy or sell crytpo for cash no questions asked. Just last week a Swiss guy wanted to buy 1.5 million EUR of bitcoin from me for cash at a 10% premium. He'd supposedly have the cash delivered anywhere in Europe.
Too risky for me, but if you're a drug cartel, that's business as usual.
