All of the other items you mentioned are things that society attempts to regulate against as well. And while there are an infinite number of ways to exchange value it stays between those involved. If the drug dealer is happy to trade heroin for house painting the damage is self limiting.
Once it’s converted to money it’s everyone’s problem. I can’t avoid my mortgage interest helping supporting the dealer who is supplying the addicts who are stealing my stuff. The harder I work, the worse it gets.
The controls may not be effective but I think they are necessary. I wouldn’t want to live in most countries where money laundering dominates financial activity.
Once it’s converted to money it’s everyone’s problem. I can’t avoid my mortgage interest helping supporting the dealer who is supplying the addicts who are stealing my stuff. The harder I work, the worse it gets.
The controls may not be effective but I think they are necessary. I wouldn’t want to live in most countries where money laundering dominates financial activity.