Criminal activity with cash is still higher than crime related with cryptocurrency

Criminal activity with cash is still higher than crime related with cryptocurrency

Recent statistics refute the fact that cryptocurrencies are an important means of payment for crime.


26 Jan 2021 , 19:10 @ Matey Salt

Criminal activity with cash is still higher than crime related with cryptocurrency

Recent statistics refute the fact that cryptocurrencies are an important means of payment for crime.

Surely you have already encountered the fact that cryptocurrencies are called a favorite currency of criminals, even without specific statistics being available.

That is why the analysts at Chainalysis have decided to bring more truth to this issue and the results are more than favorable.

As you can see in the chart above after 2019, the curve of the criminal share of all cryptocurrency activity quickly turned and fell below 0.50%.

This positive progress was not unnoticed, and to a surprise, the US Senator from Wyoming, Cynthia Lummis, commented.

Cynthia Lummis wrote on her twitter:

According to Chainalysis, cryptocurrency-related crime is smaller than criminal activity with cash. #Crypto regulations need to leave room for innovation. Just because a limited number of bad actors have abused crypto doesn’t make it evil.

In this answer, she also mentioned Janet Yellen, the new US Secretary of the Treasury, who only recently spoke about her position and what she will promote in the field of cryptocurrencies.

Read also: US Treasury Secretary candidate J. Yellen sees potential in cryptocurrencies

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