When we think of money laundering in Texas, we might think of relatively small-scale enterprises like car washes, nail salons, and laundromats that offer customers the opportunity to pay in cash and allow the owners to hide ill-gotten money. But in the age of cryptocurrency, money laundering does not follow traditional means of obfuscation.
Just a few days ago, an American couple made the news when they were arrested for stealing more than 3.6 billion dollars’ worth of cryptocurrency. Charged with conspiracy to commit money laundering and conspiracy to defraud the United States, this couple’s situation sheds light on how technology can complicate areas of criminal law that are still being developed.
Is Money Laundering a State or Federal Crime?
Even if the crime of money laundering is committed exclusively in the state of Texas, a person may be charged with federal money laundering crimes if they use or try to use money they know was illegally obtained. Certain types of crimes can also bring federal money laundering charges, such as:
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