Actually, it hasn't been redefined at all - at least legally.
To quote Wikipedia:
It is defined as knowingly engaging in a financial transaction with the proceeds of a crime for the purpose of concealing or disguising the illicit origin of the property from governments.[1]
More specifically, money laundering is defined in Article 6.1.a.i and 6.1.a.ii of the United Nations Convention against Transnational Organized Crime[2]. The PDF won't let me copy & paste the text, but it uses the language "proceeds of crime" in both subsections.
Some jurisdictions may have monetary reporting laws which are broken during transferring BTCs, but it isn't money laundering (under international law anyway).
Comments
Actually, it hasn't been redefined at all - at least legally.
To quote Wikipedia:
It is defined as knowingly engaging in a financial transaction with the proceeds of a crime for the purpose of concealing or disguising the illicit origin of the property from governments.[1]
More specifically, money laundering is defined in Article 6.1.a.i and 6.1.a.ii of the United Nations Convention against Transnational Organized Crime[2]. The PDF won't let me copy & paste the text, but it uses the language "proceeds of crime" in both subsections.
Some jurisdictions may have monetary reporting laws which are broken during transferring BTCs, but it isn't money laundering (under international law anyway).
[1] http://en.wikipedia.org/wiki/Money_laundering#Criminalizing_...
[2] http://www.unodc.org/documents/treaties/UNTOC/Publications/T...