The Last DJ.
I mean, this "fascist" country took you and your family in when you were fleeing communism and 9/11 was real thing, so maybe you mind want to tamp down the rhetoric, eh?Money laundering, not at all. Bitcoin is just too risky to use for money laundering. I'm assuming you understand what money laundering is? Where you cover the source of your money by setting up a business and paying yourself, making it look like that business is the source of your money, not some other illicit activity? Imagine having to set up a Bitcoin business and claiming you're earning a lot of Bitcoin by paying yourself Bitcoin. Such a Bitcoin business alone will attract attention. But, yeah, you can look for the data yourself. Bitcoin money laundering is tiny. Cash and big banks are kings for that. Tax evasion? Absolutely. That's the whole point of it being sovereign currency. But, that doesn't apply to El Salvador. There's no tax on Bitcoin trades. It's just money there.
As for "strict reporting requirements in the developed world," that's not a thing. It's strict reporting requirements in hyper paranoid fascist USA that is terrified about terrorism, people moving large amounts of money without US tracking it (even if done by foreigners), and countries moving away from USD standard, especially for trading oil. US is f'in nuts with regards to what it demands and how it forces other countries to comply. And other countries really hate US for it. As they should. So fuck'em. As I said, with this, countries can finally fight against emperialist and fascism by being their own sovereign countries for a change.
More on point, money laundering can and is done with Bitcoin since criminals can hold cryptocurrencies without divulging their identity, which allows them to move money through front and legitimate Bitcoin businesses to wash it and Bitcoin mixing makes the process even easier. Bitcoin and other cryptocurrencies are used by criminal groups for payment methods in ransomware attacks because they can remain anonymous and cash out their ransom proceeds for hard currency. Major exchanges have also been complicit in this.
"Elliptic estimates that between 2011 and 2019, major exchanges helped cash out between 60 per cent to 80 per cent of bitcoin transactions from known bad actors."