Research Shows the U.S Dollar has been used to Launder Money 800x more than Bitcoin

2019-7-27 01:03

The cryptocurrency industry has faced a lot of resistance mainly from governments of the globe for several reasons. One of the main reasons given is that cryptocurrencies can be used for money laundering and lawmakers have proposed a complete ban several times. Some data, however, reveal information that is contrary to this belief.

Research conducted by research firm Messari reveals that more U.S Dollars have been used to launder money than Bitcoin. Precisely, the data reveals that the U.S Dollar has been used in money laundering 800 times more than Bitcoin. “For every $ in BTC spent on the darknet, at least $800 is laundered”, it states.

Data from Messari, Coinmetrics

This is a rather disturbing revelation as Bitcoin has been attacked by several government officials lately. United States President Donald Trump said earlier this month that Bitcoin has no value and unregulated cryptocurrency can be used for unlawful behavior like drug trade and others (including money laundering).

The U.S Treasury Secretary Steven Mnuchin expressed concerns about cryptocurrency just days after Trumps’ tweet about Bitcoin. Again, it was concerned on what cryptocurrency can be used to do on the darknet despite the fact that the U.S Dollar is used to commit the same illegal acts more than Bitcoin.

This data could be invalidating the claims that Bitcoin is mainly used for criminal activities. As a matter of fact, transactions using Bitcoin are more traceable than any fiat and so can be more easily traced than transactions in U.S Dollars. 

The crypto community considers such criticisms as publicity for Bitcoin and the crypto industry as a whole because it means the industry is important enough for the U.S government to give an opinion on. With the pressure to regulate the industry mounting, it might be a matter of time before the industry comes under full regulation.

Some are however of the opinion that the government might just be afraid of what Bitcoin could do to the U.S Dollar rather than being concerned about money laundering as regulation hasn’t succeeded in curtailing the situation.

The post Research Shows the U.S Dollar has been used to Launder Money 800x more than Bitcoin appeared first on ZyCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Money ($$$) íà Currencies.ru

$ 0.0004099 (+0.00%)
Îáúåì 24H $0
Èçìåíåèÿ 24h: 0.00 %, 7d: -2.27 %
Cåãîäíÿ L: $0.0004099 - H: $0.0004099
Êàïèòàëèçàöèÿ $18.807k Rank 99999
Äîñòóïíî / Âñåãî 45.887m $$$

research used money reasons several bitcoin launder

Èñòî÷íèê: zycrypto.com

research used → Ðåçóëüòàòîâ: 126


Samsung’s new AI can create talking avatars with a single photo

Samsung’s research center at Moscow has developed a new AI that can create talking avatars of photos and paintings without using any 3D modeling. A paper posted by the research team suggests that while traditionally researchers have used a large number of images to create a talking head model, a new technique can achieve it by few, or potentially even one image.

2019-5-23 12:03


Cornell Tech Research: Dangerous Arbitrage Bots Are Exploiting Decentralized Exchanges

There is a new trend in the market. People are using arbitrage bots to exploit innefficiencies in decentralized exchanges (DEX) in order to get more profit. This was originally reported by Homeland Security News Wire, which used research from Cornell Tech in order to affirm that some “predatory users” were profiting from these exchanges this […]

2019-5-8 23:00


Ôîòî:

Lazarus Hacker Group Continues to Target Crypto Using Faked Trading Software

This article was originally published by 8btc and written by Lylian Tang. The Chinese security service provider 360 Security has issued a warning that a large number of crypto exchanges have been targeted by the North Korean hacker group Lazarus and that the number is still rising after the recent hacks of crypto exchanges DragonEx, Etbox and BiKi.

2019-4-2 21:54


A comprehensive (and honest) list of UX clich

“You are not your user” A reminder that you are not designing the product for people like yourself. Often used as a way to encourage more user research in a project. “If Henry Ford had asked people what they wanted, they would have told him faster horses”Used as a counter-argument to the previous statement, when you start to realize you won’t have time or money to do enough user research.

2019-3-31 22:00


Ôîòî:

As Court Reconvenes for QuadrigaCX, Questions Surround Empty Cold Wallets

As QuadrigaCX’s legal counsel descends on the courtroom in Halifax, Nova Scotia, for another round of legal proceedings, the court monitor’s third report on QuadrigaCX’s finances — specifically its revelation that the exchange’s cold wallets are empty — lays out some hopeful avenues for fund recovery — and some frustrating dead ends.

2019-3-5 20:20


TecraCoin ICO

The mission of Tecra project is to compose a research and investment holding, which will create conditions for the research and commercialization of future technologies. Currently, we are at an advanced stage of research on patented graphene technologies that radically change the desired properties of many technologies commonly used today, such as hydrophobicity, barrier properties, biocidal properties, thermal and electrical conductivity, and increase in sliding properties.

2019-2-23 15:03


Ethereum’s Blockchain Gets Voted as Most Popular for Crypto Scams, Fake ICOs and Ponzi Scheme Exits

Ethereum has proven to steadily be out of step with being secure for users, with a large number of scams blighting the blockchain, according to recent research. According to the report, which was conducted by the specialist research analytics firm, Chainanalysis: Ethereum continues to be one of the most commonly used blockchains for conducting scams […]

2019-2-5 21:49


Where’s the ‘Missing’ $150 Million? Crypto Exchange QuadrigaCX’s Fiasco Gets Weirder with New Research

According to a cryptocurrency researcher with an online alias “ProofofResearch,” QuadrigaCX may not have a Bitcoin cold wallet nor $150 million in crypto. In a research paper, Zerononcense editor ProofofResearch stated that based on the evaluation of the company’s 31 Bitcoin addresses, no evidence to prove the existence of a cold wallet for QuadrigaCX was found.

2019-2-5 17:46


äàëüøå åùå 77 íîâîñòåé →

Ïàðòíåðû Currencies.ru

Àíàëîã Notcoin - Blum - Èãðàé è çàðàáàòûâàé Ìîíåòû



Ðåêëàìà íà Currencies.ru

Ñàìîå ñâåæåå íà Currencies.ru