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Cryptocurrency market. Who is more: criminals or speculators?

The US Anti-Narcotics Board voiced information according to which the use of bitcoin for criminal purposes decreased from 90% to 10%. The data was taken from the analysis of bitcoin-transactions for the last five years.

And despite the fact that due to the rapid growth of the market in recent years, the volume of cryptocurrency operations associated with crime actually increased, against the background of the hyperactivity of legal users, it fell sharply.

In an interview for Bloomberg, a special agent Lilita Infante said that most of the operations with the crypto currency are carried out by speculators. She also added that with the help of technology blocking, US law enforcement agencies conduct identification of citizens in order to prevent money laundering and drug distribution.

Criminal organizations such as drug cartels are increasingly using digital currencies in their operations, from money laundering to international transfers, since it is cheaper, faster and perceived more securely than passing the banking system. But these conclusions are erroneous, as law enforcement agencies use blocking technology in their own interests.

Blokchein gives us tools to identify people. In fact, I would like the criminals to continue to use it, Infante said.

The conclusions of Infante contradict the popular opinion that Bitcoin is mainly used by criminals. Many big businessmen and politicians do not recognize digital assets precisely because of their connection with the criminal world. It is necessary to recognize that the crypto currency is really used for criminal purposes, but not more than any other kinds of money. The lion’s share of operations with bitcoin is speculation.

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