Or at least the amount of "money laundered" with Bitcoin and Crypto is less than 1% of the total money that is "laundered" in the world. This was made clear by a study carried out by the Foundation in Defense of Democracies and Elliptic, a company that studies Blockchain in a forensic way.
According to their website where they clarify why they did the study ...
... what analysts know about Bitcoin’s illicit applications is mainly based on anecdotal evidence, usually without supporting data, regional context, or trends over time. - Bitcoin Laundering, An Analysis of Illicit Flows into Digital Currency Services
And the study report is basically aimed at ...
... policymakers and financial industry leaders who want to better understand illicit finance risks arising from bitcoin and formulate ways to enhance Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) compliance among cryptocurrency businesses. - Bitcoin Laundering, An Analysis of Illicit Flows into Digital Currency Services
Although of course, anyone can download the report of the study on the website of the Center for Sanctions and Illicit Finances, the program formed by the Foundation in Defense of Democracies and Elliptic to carry out the study.
Pixabay
And as I said in the title, if less than 1% of the money that is laundered in the world is in crypto-currencies then, almost 98% (let's remove some of the % because of gold, diamond and things like that) is washed in the national Alt-Coins known as FIAT money (Dollar, Euro, Yuan , Pound, Yen and all the others).
I think we are "regulating" them by actively opting out of the old system and pushing for decentralization, and participating in crypto more and more.
Never put all your money in fiat... :)
LOL XD
true they should leave our crypto currency alone
Yes they should ... cryptos are self-regulated by software normally ;)
It would be nice if the government leave the cryptocurrencies alone. Unfortunately that's not gonna happen as decentralization would reduce their control over the populace. So they are gonna do everything to centralize the crypto world, and we are seeing the results of their efforts now.
Everything that has its advantages always has disadvantages... It is very easy for authorities to point out the illicit aspects of this innovation...but they fail to acknowledge the positive effects it has. Even fiat is being used for illicit activities. This is something that is inherently unavoidable
Big true! Like the Internet, guns, FIAT money, etc ;)
We all know that if they are directing the attention at Crypto - for money laundering - it's just their predictable 'set up' to try and regulate it, in some fashion...
They could try ... well they can regulate the "human factor" but not the crypto perse :)
Cryptos aren't all that bad. Actually more like not bad at all.
Governments would love to get a grip on the cryptocurrency movement - in undermines their (criminal) control. I say the more decentralization the better - more power to the people!
Please Check out my latest post: "Tips to find the next Bitcoin" - https://steemit.com/bitcoin/@nzfxtrader/tips-to-help-you-find-the-next-bitcoin-ethereum-or-ripple
Yess good bos
Great piece of content! Give you an upvote and followed you. Anyway, I'm a new user of steemit platform. You can read my Introduction to the link below.
Introducing My Self - Living a Life With “Invisible Illness”