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/biz/ - Business & Finance

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13458709 No.13458709 [Reply] [Original]

How likely is it that tether is receiving funding from countries/large corporations that need to launder money? Its possible tether is liquid but not legally. Liverpool sent cz an invitation to their stadium to talk about "partnerships"

>> No.13458714
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13458714

Satoshi seems to think so. At least that exchanges are laundering money.

>> No.13458732

>>13458714
if they are how can they be stopped? it doesnt seem like this type of behavior willl ever go away.

>> No.13458734

>>13458709
Money laundering and crypto who woulda thought

>> No.13458743

>>13458734
the question is who can stop them from doing this? seems like the task is too big to handle. sec and irs cant even stop everything in the us.

>> No.13458746

>>13458709

0% likely because its 100% traceable. Money laundering would be done via privacy coins like XMR. Volatility hardly matters because the coin is only held for a very short amount of time and money launderers are ok will loosing a little.

>> No.13458752

>>13458709
my theory back in 2017 for the best case tether sceanrio was that suitcases full of CNY cash were being trucked over the bridge from mainland to the Bitfinex Hong Kong headquarters. Chinese people would be willing to pay a premium for Tether because fuck holding CNY and good luck getting it out of the country unless you want to pay for overpriced Canadian real esate. Tether would then exchange the CNY for US Tbills that the PRC is always looking to offload and use that as the collateral for their Tether reserves.

Shady but it would mean that Tether is basically solvent.

>> No.13458768

>>13458752
so who will keep them in check? is corruption never ending?
>>13458746
so u dont believe money laundering takes place among exchanges and such?

>> No.13458800

>>13458709

Yes, I think they are just laundering money, just like the media with the tv movies and shit

>> No.13458829
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13458829

>>13458746
money laundering is the process of paying taxes on dirty cash or crypto. How does a privacy coin alone help you do that? You still haven't paid taxes on your crypto after you switch it to XMR and back to btc. all that does is make it cleaner in regards to the history on the blockchain, its still dirty crypto in that you can't explain where it came from and you havent paid taxes on it. XMR and BTC are amazing for simply hiding value truly out of touch of the regular finance world, but actually laundering your crypto is gonna take a lot more than just buying XMR. it seems a large purpose of XMR and other privacy coins is simply as a mixer for BTC lol. send BTC to exchange you're not kyc on, exchange for XMR , send XMR to different exchange your not KYC on and exchange back for BTC. Now you've got different btc but you still can't explain to the IRS how you acquired that btc if you acquired it illegally. the way to launder money is through cash businesses adding a reasonable amount extra every day of business they actually did, that way you are paying taxes on your dirty cash. You can't expect to launder a huge about of money really quickly unless you've got huge businesses set up already. the cartel uses businesses of all kinds water parks hotels restaurants farms to launder their money. its a more complicated process than just hiding your money. these days with crypto its pretty easy to hold a lot of value out of reach.