Many investors still have the idea that blockchain technology is mainly used by criminals. In the beginning, it happened a lot that money was laundered. But the criminals were deterred from the government that decided to tackle the money launderers. The consequences for the market are great because criminal activities have decreased by about 80% since 2013.
Despite the fact that the number of investors Buying Bitcoins is increasing, we see that the interest from criminals drops considerably. A special research team that does research from America afterwards shows that this trend has arisen in recent times.k
Investors who look rather critically at the Bitcoin often use the argument that it is a currency of criminals. There would only be black money. In the weekend we often see huge increases in the price. According to some, this would be due to the large amount of drug money being converted to crypto coins. In the end, all of this turns out to fall giant according to the research team’s research.
Popularity of the crypto coins reduces criminal activity
Because crypto coins are becoming increasingly popular, they are more often on the agenda with the government. The result is that the criminals have become afraid to be caught sooner. Especially when the regulation is implemented at once. But due to the arrival of legal means to buy crypto coins, money laundering is rapidly declining. The speculation on the course seems to be much more interesting than money laundering.
Yet America suspects that there will still be a lot of laundered crops. Only not with the Bitcoin because the coin is under a magnifying glass. It is mainly the small alt coins that are used because it is not looked at. Coins such as Monero and Zcash could sometimes be used for criminal activities let the DEA team know.
In July a new team was set up to investigate criminal activities at the Bitcoin. The new team consisted of a collaboration with several countries including Australia, the UK and the Netherlands. Together they have to ensure that money is laundered less quickly.