Research Concludes that Laundering of Illicit Funds Constitutes Less than 1% of Bitcoin Transactions
The Foundation for Safety of Democracies’ Center of Sanctions and Illicit Finance alongside facet blockchain analytics agency, Elliptic, has printed a study searching for to hint the circulations of illicit funds contained in the bitcoin financial system from 2013 to 2016. The evaluation concludes that the share of funds of illicit origin contains a lot much less than one p.c of all bitcoin flows, and has exponentially declined as a result of the cryptocurrency has gained rising adoption and recognition.
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Research Seeks to Observe Illicit Bitcoin Flows From 2013 to 2016
The report states that “Criminals – sometimes early adopters of new utilized sciences – shortly appreciated that bitcoin has distinctive properties that may doubtlessly serve their curiosity in evading laws enforcement.” The evaluation asserts that “bitcoin’s illicit use is particularly based mostly totally on anecdotal proof, usually with…