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Money Laundering in Digital Currencies

Publication Date: June 3, 2008

Document ID: 2008-R0709-003

Archived on: January 1, 2011. This document may contain dated information. It remains available to provide access to historical materials.

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This assessment describes digital currencies and the digital currency system and how they are used to launder and move funds.

Your questions, comments, and suggestions for future subjects are welcome at any time. Addresses are provided at the end of the page.



Key Judgment





Key Judgment

Digital currencies combine the intrinsic value of gold and other precious metals as well as the designated value of national currencies with the worldwide reach of the Internet to create an ideal mechanism for international money laundering. Users can anonymously fund digital currency accounts, send those funds (sometimes in unlimited amounts) to other digital currency accounts worldwide, and effectively exchange the funds for foreign currencies--often while bypassing U.S. regulatory oversight.


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