After Bitcoin and other cryptocurrencies got the place onto the bigger picture , naysayers as always suggested that digital assets were used for nefarious transactions, that is money laundering, and much more.
Sure, Bitcoin was the favored currency of bad actors in the beginning. This in turn sparked mainstream adoption, however temporarily. Analysts today support the idea that the crypto criminality is on the downward slope.
“2020 was an wonderfull year for cryptocurrency. In spite of the devastation brought by the world-wide pandemic, Bitcoin has blown its previous price records, mostly because of increase demand from institutional investors that many in the cryptocurrency community have long been thought would drive the cryptocurrency to all time highs,” reports Chainalysis. “ But, as always, cryptocurrency is most appealing for criminals because of its pseudonymous nature and the ease with which it gives users authority to send funds anywhere in the whole world without any delay, but because almost everyone is trying to get into it because of FOMO, that is, governments too and it being transparent and traceable design, the good news is that cryptocurrency-related crime fell significantly in 2020.” For now we have to wait and see what is becoming of crypto world.
