Andy on Twitter: "A lot of folks are asking how the cash gets in the crypto market on the buyer side to begin with. I have two answers to this -- the first is that a large portion of global criminal transactions are already conducted via crypto. So the cartels are paid in crypto already. 1/2"
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Ok so for those of you scratching your head about what is going on here, let's quickly explain how money laundering works with crypto assets (thread) 1/6pic.twitter.com/j9xKO83cws
Let's say you're a cartel, and you have made a ton of money smuggling drugs and arms and want to clean it so it looks like it was legitimately made in the eyes of governments or whoever. Well you're in luck! Now it is easy with crypto. 2/6
Just create two accounts/crypto wallets that you control (in reality you'd want to do a lot more rinsing between many accounts but let's keep it simple right now). One of these accounts is your "legit" account, that you get into the "digital asset" / NFT space. 3/6
