[marcus_holmes]

> What's the difference between money launderying features and privacy features?

Really good question.

I'd say "if your privacy feature allows you to trade above the trigger limit (usually 10K USD/EUR/GBP) without having to state the source of your funds, then it's actually a money laundering feature"

[ashwagary]

If the funds aren't procured through criminal activity, then it can't be considered money laundering. Only if the individual doesn't declare a taxable event to a tax authority has a crime been committed.

[marcus_holmes]

no, it's money laundering even if the funds haven't been procured from criminal activity. The regulations don't care where the money comes from, they're just specifying what reporting needs to happen around the movement of money. Not being able to properly describe where the money comes from is a crime.

I've worked in the finance industry, and I've worked with people who've seen bad guys turn up with suitcases full of other people's money. I'm totally happy that these regulations are in place.

[ashwagary]

>>no, it's money laundering even if the funds haven't been procured from criminal activity.

You are wrong.

FINCEN "Money laundering involves disguising financial assets so they can be used without detection of the illegal activity that produced them."

WIKIPEDIA "Money laundering is the process of concealing the origin of money obtained from illicit activities such as drug trafficking, corruption, embezzlement or gambling, by converting it into a legitimate source."

https://www.fincen.gov/what-money-laundering

https://en.wikipedia.org/wiki/Money_laundering