Dutch Authorities Look to Deem ‘Bitcoin Mixers’ as Money Laundering
The Dutch government is trying to make it easier to launch a criminal investigation against persons who use bitcoin to launder money from illegal activities, according to Financieele Dagblad, a Dutch newspaper. Dutch investigators have discovered criminals are shielding activities using “bitcoin mixers.” A bitcoin mixer is a grab bag with bitcoins of several owners. The bitcoins paid out from the bitcoin mixer cannot be traced back to the original owner. Bitcoin And Money Laundering. The FIOD, the investigative arm of the Dutch tax authority, wishes to have the bitcoin mixers recognized as....
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Dutch public prosecutors and the tax inspection agency are ramping up their fight against bitcoin money laundering this year. According to research conducted by Dutch financial newspaper Het Financieel Dagblad (FD), at least three criminal cases pertaining to money laundering with bitcoin are scheduled for 2017. Additionally, the FIOD — the investigative arm of the Dutch tax authority — wants to lower the bar for prosecution of unlicensed bitcoin traders. The FIOD will also try to have mixing services recognized as money-laundering operations. The Challenge of Anonymity. Bitcoin’s relative....
As the Dutch proverb goes: “The soup is not eaten as hot as it is served.” Meaning: The threat is often not carried through as thoroughly as initially presented. Bitcoin Magazine recently reported that the investigative arm of the Dutch tax authority — the FIOD — wants to lower the bar for prosecution of unlicensed bitcoin traders. As part of that effort, the FIOD aims to have mixing services recognized as money-laundering indicators. Users of mixing services would be assumed guilty, Dutch financial newspaper Financieele Dagblad (FD) wrote, unless they could prove otherwise. The FIOD has....
The Dutch public prosecution office is looking at three pending cases involving the digital currency bitcoin and money laundering in 2017. In a report from Financieele Dagblad, a Dutch daily newspaper, the public prosecution department is aiming to tackle money laundering by cracking down on the issue that the country is facing. The first case to be heard will take place on February 6 involving a 24-year-old man from Amsterdam and a 27-year-old man from Utrecht. They are accused of laundering €2.4 million with the use of bitcoins. In the second case, four Dutch nationals are involved who....
Prosecutors from the Netherlands have seized 2,532 bitcoins worth $33 million after a couple was convicted of money laundering by the Rotterdam District Court. The man and his wife were sentenced to two years for illegal money transmission and the court claims the couple’s bitcoin stash was used on the deep web. Dutch officials recently arrested and charged a man and his wife for illegal money transmission and money laundering. According to the Dutch Public Prosecution Service from the Rotterdam District Court, the two suspects laundered close to $19 million using bitcoin during the....
A total of six people has been arrested during police raids yesterday, which took place in The Netherlands and beyond. These police raids are a result of an ongoing investigation regarding money laundering with Bitcoin, a service offered by several individual residing in the Rotterdam area. Bitcoin’s PR problem has gotten slightly worse yet again by the look of things. It is not the first time Bitcoin is linked to money laundering activities. However, this police investigation focuses on several individuals offering a guaranteed anonymous exchange from fiat currency to Bitcoin. This type....