Re: [Taler] How Does GNU Taler Prevent Money Laundering

[Christian Grothoff]

On 9/8/21 4:52 AM, taler--- via Taler wrote:
> 
> Money laundering takes place when illegally obtained money
> is used in a transaction.
> This is certainly not a concern where the merchant
> is trying to receive illegally obtained money
> in the GNU Taler System, since all money merchants
> receive is visible to governments.
> It is also not a concern for money obtained by clients
> from exchanges participating in the GNU Taler system,
> since exchanges of fiat money for cryptocurrency money
> is still visible for taxation.
> 
> I am thinking this is a concern when a customer attempt
> to use cryptocurrency that they obtained from illegal
> sources when trying to pay for things.
> May one of the GNU Taler developers clarify how it protects
> against all forms of money laundering.

The Taler exchange needs to ensure that it only accepts inbound funds
from sources deemed legit.

For Euros, those could be typically be KYC'ed bank accounts in the
Eurozone.

For Cryptocurrencies, I would expect that the exchange would have to
trace the blockchain to see if illegal sources were involved in the
UTXO's tree before issuing digital coins.

-Christian

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