Recent research from the National Endowment for Democracy (FDD) and Ellicit shows that less than one percent of Bitcoin transactions are linked to money laundering in any way.
The report, which was written to analyze the dangers of using cryptocurrency as a means of money laundering, says that many critics of Bitcoin are wrong in calling money laundering the main problem with cryptocurrencies. Money laundering is financial transactions whose purpose is to conceal information about the source of funds obtained through illegal means (fraud, corruption, organized crime, terrorism, etc.).
“The number of such transactions we recorded was quite small. Although Bitcoin has enormous potential for criminal activity, very few people use it for these purposes. The main platforms for such activity were two of the most famous darknet portals - Silk Road and AlphaBay."
Despite the fact that many skeptics believe that Africa is the center of cryptocurrency crime, the report also indicates that the majority of all illegal transactions using digital currencies were concluded in Europe, this number is approximately five times higher than the number of similar transactions in North America. Analytical companies are confident that the most effective means in the fight against money laundering will be more stringent measures applied to those who break the law. “The only way to combat such transactions is to strengthen the work of law enforcement agencies to track “dirty” money.
According to https://cointelegraph.com
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