Crypto or cash? Here is the terrible truth revealed by criminals!

A new study revealed that only 0.3% of crypto transactions are signals like illegal transactions, despite the popularity of cryptocurrencies, which are mainly used for criminal activities. Published by the Crypto Information Sharing and Analysis Center (CryptoISAC) in collaboration with Merkle Science, this report sheds light on the security and transparency of cryptocurrency transactions through reports on traditional financial systems.

Cryptocurrency: a month more transaction than you have ever known before?

Despite the increasing popularity of cryptocurrencies, criminals continue to prefer liquid silver for their illegal transactions. The ratio between 2% and 5% of GDP is released worldwide each year through traditional financial systems, representing between 800 billion and 2 000 billion dollars. In comparison, cryptocurrency transaction volume was only 0.34% in 2023, signaling potentially illegal transactions; in 2022 it was 0.42%.

One of the main advantages of cryptocurrencies is their transparency. The transactions carried out via the blockchain are immutable and public, so tracking is possible. Crypto exchanges in the United States are subject to strict regulations, including customer monitoring (KYC) and anti-money laundering (AML) rules, as they make it difficult to make transactions anonymous.

Stablecoins are also used to protect against illegal volatility gains because they are less likely to be associated with illegal transactions. Between July 2021 and June 2024, only 0.61% of Tether (USDT) transactions and 0.22% of Circle (USDC) transactions were assessed with potentially illegal signals.

International and secure cooperation

The appeal also calls for international cooperation to address national security concerns as a major party has engaged in illegal cryptocurrency activity on offshore platforms that are not subject to the same restrictions as United States cells are affected.

Since cryptocurrencies are stigmatized for being tools for criminal activity, the victims used by traditional financial systems are actually underutilized for illicit transactions. This transparency and traceability arise for reasons of security and reliability of cryptocurrencies at a fair price.

Eddie S.

World development and adaptation are the best forces to survive in this university future. Community Manager Crypto based, I’m interested in anything that has to do with blockchain or is derived from it. With the optics of sharing my experience and getting acquainted with a domain that I am passionate about, I feel that I need to read informative articles and contract on the spot.

DISCLAIMER

The views, thoughts and opinions expressed in this article belong solely to the author and should not be construed as investment advice. Do your own research before making any investment decisions.