Why I think Dr. Shahid Masood's accusations are correct.

[PakSword]

The Thing Is With New Money Laundering Legislation Banking Transactions Are Closely Monitored Cryptocurrencies Give The Benefit Of Anonymity and Fast Transfer of Funds That Conventional EFT Systems Can't.

But you have to buy the currency first.. for that you will have to transfer fiat currency to a crypto exchange using a bank account or credit card.. meaning the first transaction will be initiated through legit banking channels. right? Am I missing anything?

 

[Samlee]

How will you buy the currency in the first place?

This May Help

https://bitcoin.org/en/

But you have to buy the currency first.. for that you will have to transfer fiat currency to a crypto exchange using a bank account or credit card.. meaning the first transaction will be initiated through legit banking channels. right? Am I missing anything?

Read This

https://bitcoin.org/en/bitcoin-for-individuals

 

[Big Tank]

How will you buy the currency in the first place?

There are Pakistan based websites where you can put an ad to buy or sell cryptocurrency.

 

[PakSword]

This May Help

https://bitcoin.org/en/

Arey bhayya, I have crypto, and I am dealing in it.. I am just saying that I have to purchase the money through fiat currency first.. it means that my bank knows which exchange I sent the money to..

 

[El Sidd]

We have no rules.

This is actually economic terrorism but who listens to me these days

 

[PakSword]

There are Pakistan based websites where you can put an ad to buy or sell cryptocurrency.

So through the ads (from private sellers I believe), we can buy millions of dollars worth bitcoins?

 

[Mrc]

Arey bhayya, I have crypto, and I am dealing in it.. I am just saying that I have to purchase the money through fiat currency first.. it means that my bank knows which exchange I sent the money to..

Did u make any money??

 

[Big Tank]

So through the ads (from private sellers I believe), we can buy millions of dollars worth bitcoins?

Exactly. Either you wanna sell coins or buy. You put an ad and Seller or Buyer reaches you within minutes.

 

[PakSword]

Did u make any money??

Very little.. lolz.

Exactly. Either you wanna sell coins or buy. You put an ad and Seller or Buyer reaches you within minutes.

And the sellers purchase the money outside of the country?

 

[Samlee]

Arey bhayya, I have crypto, and I am dealing in it.. I am just saying that I have to purchase the money through fiat currency first.. it means that my bank knows which exchange I sent the money to..

Not Really Read This

https://bitcoin.org/en/how-it-works

Suppose You Pay Cash To Some Blockchain Expert And Then He Transfers You Bitcoins That You Can Use.That Is One Way Of Avioding Banks and Documentation

 

[Big Tank]

Very little.. lolz.



And the sellers purchase the money outside of the country?

No. The money transition take place via Western Union etc. So it has to be local. Once you buy the coins. You can sell them while being anywhere in the world you want. Using the local website.

 

[Sugarcane]

Can anyone tell me how cryptocurrency can be used for money laundering?

Why someone will try to do money laundering via crypto when there are dozens of easy and efficient ways available than it?

 

[Samlee]

So through the ads (from private sellers I believe), we can buy millions of dollars worth bitcoins?

Well Not Million But Good Amount I Checked Back In December That Bitcoin Is Worth $17000 Dolllars.Depends On What Advertisers Are Willing To Offer

 

[pak-marine]

The "35 puncture" idiot has now come up with 37 accounts. It took a couple of years for the 35 puncture story to be exposed but this time Hakeem Dhabhardoos has made an @$$ out of himself in only 24 hours.

End of times Hakeem dhabardoos has messed the case up for his trps on the body of a very small Child .. God knows whats is true or fake but i now consider Shahid Masood a pittho and a very low quality and zero credintial journalist

 

[PakSword]

No. The money transition take place via Western Union etc. So it has to be local. Once you buy the coins. You can sell them while being anywhere in the world you want. Using the local website.

So you are saying that if I want to do money laundering, I will first ask someone to sell me crypto. Of course, the seller can't buy the crypto locally, so he has probably purchased the crypto using fiat outside of the country (meaning he can be brought under radar anytime by the foreign banks). So the seller purchases the crypto, comes to Pakistan, transfers it to my account, takes cash from me and then? Deposits it in Pakistani bank or transfers it to his foreign account? If he transfers it in his foreign account through bank transfer or western union, both are legal.. if he does it through purchasing dollars from local market, he will come under radar.. if he takes Pakistani Rupees abroad through hawala (real money laundering), he can be caught.. it means that to do money laundering, seller doesn't need to use crypto.. if in the end he will have to transfer fiat illegally.. (old method)..