Study: Fiat is 800 times more used in illegal activities than bitcoin
Analytical portal Messari has published statistics designed to illustrate how well-grounded criticism of the US Treasury Secretary and other skeptics about cryptocurrencies.
Based on data from Chainalysis and the United Nations Office on Drugs and Crime, analysts have determined that for every dollar spent on the darknet using bitcoin, there is $ 800 laundered through traditional fiat money..
This issue has also been previously addressed by Europol, whose staff prepared a report entitled “Why does cash continue to rule?”
“While not all uses of cash are criminal, all criminals use cash to launder money at some stage in the process,” Europol writes. – The world is wary of possible abuses of virtual currencies in the criminal sphere, and this report may seem unusual in the sense that it does not highlight new phenomena or emerging risks. Money laundering schemes detected by law enforcement officers are still characterized by the use of mainly traditional methods, in particular, the use of cash “.
Messari analysts also note that over the past 10 years, the Federal Reserve has increased its foreign exchange supply by 13,664% relative to the issue of bitcoin..
Earlier, the Chainalysis company announced that the current year could become a record for the amount of bitcoin payments on the darknet. At the same time, the share of such transactions in the total volume of bitcoin payments continues to decline. Now they are less than 1% against 7% in 2012.
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