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No, you can not launder money and cash out.
https://store.steampowered.com/steam_refunds/
If have credit card, use that, or use bank transfer just like above but link credit card instead.
Allowing cash outs would easily be facilitating laundering money. Just get money illegally, buy giftcard, then redeem it back to cash laundering the money.
It's a reason any site offering giftcards doesn't have a way to turn it back into cash.
It has nothing to do with due dilligence. Facilitating those types of transactions are under a whole nother level of accountability and its impossible to prevent illegal use of said features.
After all there is a reason literally every company in the world that offers gift card's don't allow you to convert your giftcards back into cash after buying them
Once you convert currency into this type of system, you can't retransform back into regional-system currency. Everyone should know this by now.
Wallet refunds are possible under certain circumstances.
Cashing out redeemed gift cards have never been a thing.