The Truth About Money Laundering in Crypto & Gaming
summary
Panel claims the top five money‑laundering scandals involve about 19 legacy banks and no crypto or iGaming, arguing crypto mostly helps layering via mixers and cross‑chain bridges while final integration still hits banks. Investigation times drop from days to minutes on‑chain, and laundering costs rise from roughly 5–10% to 15–30%. Many offshore VASPs accept ID upload no liveness checks, skip KYT and FATF recs (10,15,16), and licensing often functions as branding rather than real controls. Regulators push stricter KYC and advertising limits but focus on TV/radio despite youth moving to digital.
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chapters (15)
- 0:00Money laundering in crypto & gaming
- 1:13Top laundering scandals
- 3:21Why banks dominate laundering
- 5:04Costs of laundering in regulated sectors
- 8:16Regulatory gaps in AML
- 10:22iGaming laundering risks
- 13:37Legal vs illegal transfers
- 16:06AML tech & analytics
- 18:11Offshore operators' arbitrage
- 20:39Compliance motivations
- 21:23PAGCOR's KYC measures
- 23:10Regulators vs black market
- 25:00Regulation challenges
- 26:24TV & radio gambling bans
- 27:08Digital media gambling oversight
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