Professor Richard Gordon interviewed in Washington Examiner article on bitcoin’s potential uses in money laundering

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Professor Richard Gordon, director of the Financial Integrity Institute at Case Western Reserve University and the Master of Arts in Financial Integrity Program, was quoted in the recent Washington Examiner article, “Firm offers anonymous sales of fine art, luxury cars using bitcoin.”

The article, which highlights a firm that takes payment in bitcoin for procuring fine art and luxury goods, weighs in on this new mechanism for potential money laundering and tax evasion as regulations struggle to catch up to the new cryptocurrency’s surging popularity.

According to Gordon, “any time someone can purchase a significant capital asset without any record is a channel to invest criminal proceeds without much fear of detection. If you just want secrecy from creditors or rapacious criminals or governments, you can set up a company or trust in a jurisdiction that respects the rule of law, and have that buy the painting. Why you’d want more secrecy that that, unless of course you’re a criminal or tax evader, I really don’t know.”