How “cash to crypto” swaps allow users everywhere to convert local currencies to stablecoins and then to debit cards, avoiding financial oversight and sanctions
www.nytimes.com/2025/12/07/t... Ken Caldeira / @kencaldeira.com : Is there any purpose to cryptocurrency other than to facilitate criminal activity? — www.nytimes.com/2025/12/07/t... Waldo Jaquith / @waldo.net : ...Are people doing anything *else* with cryptocurrency? By total value, of the amount of Bitcoin etc. that is used as currency (and not as an investment), surely the supermajority is spent on crime? Nate Schenkkan / @nateschenkkan : Stablecoins and other crypto present a solution to a real problem that comes with moving money across borders: its cost. But the reason for the cost is compliance with regulations, and the proposed solution is to evade compliance: www.nytimes.com/2025/12/07/t... Kate Klonick / @klonick : Here's the piece by @kashhill.bsky.social www.kashmirhill.com/stories/ bitc... And here's Aaron Krolik's great piece that came out today about how the illegality that crypto has always enabled has been absolutely accelerated this last year in this direction — 2/2 — www.nytimes.com/2025/12/07/t... Kate Klonick / @klonick : For the first ~6 years of its existence, the big question around crypto currency was “what's the use case”— @kashhill.bsky.social had a great 2013 “living on bitcoin” story that was defining. — But for the last year the answer has been clear: crypto's best use case is fraud & political corruption … @watchdogprg : I have stated many times: crypto is the currency of criminals. NYT has caught up with this fact 👇 — How a Cryptocurrency Helps Criminals Launder Money and Evade Sanctions.. www.nytimes.com/2025/12/07/t... Mastodon: @SuffolkLITLab@esq.social : TL;DR: Experts highlight how stablecoins can obscure financial transactions, making it easier for criminals to launder money and evade sanctions through complex networks of intermediaries. https://www.nytimes.com/... #law #tech #legaltech ⚖️ 🤖 #autosum Forums: r/NoShitSherlock : How Stablecoins Can Help Criminals Launder Money and Evade Sanctions Msmash / Slashdot : How a Cryptocurrency Helps Criminals Launder Money and Evade Sanctions