Money laundering legal loophole?

[Stompix]

> buy them from yourself with "dirty" crypto on decentralised exchange
> report your income and pay tax on it
> live happily ever after

What is the point of the rest when you could simply do the same with any other coin, and then claim you had them from when it was 0.0001 per coin, if you were facing a true audit they will easily discover how you bought those fake meme coins just as they would discover how it was pumped with funds that have been blacklisted, so instead of just money laundering you would be faced with far more dangerous charges, being part of an organized group that does and conspiracy for money laundering which adds here 10 years!

Plus you're putting your family and friends in this situation and some might do the opposite of what you expect.

[pawel7777]

> buy them from yourself with "dirty" crypto on decentralised exchange
> report your income and pay tax on it
> live happily ever after

What is the point of the rest when you could simply do the same with any other coin, and then claim you had them from when it was 0.0001 per coin, if you were facing a true audit they will easily discover how you bought those fake meme coins just as they would discover how it was pumped with funds that have been blacklisted, so instead of just money laundering you would be faced with far more dangerous charges, being part of an organized group that does and conspiracy for money laundering which adds here 10 years!

Plus you're putting your family and friends in this situation and some might do the opposite of what you expect.

Depending on jurisdiction and the level of scrutiny, simply claiming that you had a certain coin from back when it was worth close to nothing might not fly, and you could be expected to prove it or risk that your coins could get seized (as it sometimes happens with large amounts of cash money).

From the government's perspective, proving that you pumped your newly created token with your own illicit funds is much harder if all was executed carefully. First of all, they would have to prove the dirty crypto was yours, which is almost impossible unless you got caught holding it. Second of all, by referring to "dirty" crypto, I only mean crypto that was not legally acquired and not necessarily to any "blacklisted" coins. But even blacklisted coins could get anonymised.

[philipma1957]

> buy them from yourself with "dirty" crypto on decentralised exchange
> report your income and pay tax on it
> live happily ever after

What is the point of the rest when you could simply do the same with any other coin, and then claim you had them from when it was 0.0001 per coin, if you were facing a true audit they will easily discover how you bought those fake meme coins just as they would discover how it was pumped with funds that have been blacklisted, so instead of just money laundering you would be faced with far more dangerous charges, being part of an organized group that does and conspiracy for money laundering which adds here 10 years!

Plus you're putting your family and friends in this situation and some might do the opposite of what you expect.

Depending on jurisdiction and the level of scrutiny, simply claiming that you had a certain coin from back when it was worth close to nothing might not fly, and you could be expected to prove it or risk that your coins could get seized (as it sometimes happens with large amounts of cash money).

From the government's perspective, proving that you pumped your newly created token with your own illicit funds is much harder if all was executed carefully. First of all, they would have to prove the dirty crypto was yours, which is almost impossible unless you got caught holding it. Second of all, by referring to "dirty" crypto, I only mean crypto that was not legally acquired and not necessarily to any "blacklisted" coins. But even blacklisted coins could get anonymised.

Well back to the op yeah your idea can be done but it may or may not work.

Check out this new scandal on a pump and dump.

Lets pretend some smart dude used the Women to make the meme coin to help his mobster friends launder money


https://www.yahoo.com/finance/news/hawk-tuah-girl-crypto-team-234357456.html


and now the world is crawling up there ass to find out what shit they were up to.

[Dr.Bitcoin_Strange]

Owning to the fact that so many projects have emerged, being hyped for some few weeks, listed on one or two exchange and in not more than 2 days, the project has dumped and that would be the end of the project. Between 2022 and this year, I have lost counts of many project that their all time high was just immediately after it got listed, since they have not reached a new all time high. With some of those projects, that must have been the case, just my guess.

On  a second thought, if someone comes up with this idea and decides to give out the coins for free, it will look suspicious too and the authorities might actually fish out the person.

[pawel7777]

On  a second thought, if someone comes up with this idea and decides to give out the coins for free, it will look suspicious too and the authorities might actually fish out the person.

Not necessarily. Giving away coins is a legit way of promoting a project and creating a first user base. Bitcoin has been given away in the past (I think the first faucet was handing out 5btc to each person completely free, happy days), and so where other bigger and smaller projects (e.g. Ripple).
So that's not necessarily suspicious, and even if it was, any wrongdoing would still have to be proved.