Criminal Activities Through Bitcoin Down
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Criminal Activity Through Bitcoin is 80% Down Since 2013

“The volume, the number of transactions and the dollar value has grown enormously over the years while the relationship with criminal activity has decreased”

An agent of the Drug Enforcement Administration (DEA) noted that Bitcoin’s role in crimes has decreased, and it can be assumed that criminals account for only 10% of the transactions, while the number of transactions has grown “enormously,” Bloomberg reports on August 7.

In an interview, DEA’s specialist Lilita Infante, a member of the Cyber Investigate Task Force, has said that the relationship between legitimate and illegitimate Bitcoin transactions has made a turn and added;

“The volume, the number of transactions and the dollar value has grown enormously over the years while the relationship with criminal activity has decreased”

The term “criminals using cryptocurrency as an alternative to cash”, has traditionally formed as a key argument used by those who are critical of Bitcoin’s future and use.

Regulators have also been ready to cope with the extensive use of cryptocurrency for illegal purposes, often associated with terrorism and money laundering.

As Bitcoin’s popularity has grown, it’s now legitimate trading that constitutes the overwhelming majority of activity, with Infante stating that “the majority of transactions are used for price speculation.”

Infante says that although there are privacy-focused cryptocurrencies that are less liquid and more anonymous, DEA still has “ways to track” currencies like Monero and Zcash, which are supposed to be completely anonymous.

“The blockchains give us many tools to identify people. I actually want them to continue to use them.” Adds Infante.

At a meeting in the United States, public house in mid-July digital assets was discussed. Andreessen Horowitz, a managing partner in Scott Kupor, suggested that “Bitcoin is the best friend of the police authorities” because of the ability to track illegal transactions on the blockchain.