According to Ciphertrace's report on Anti Money Laundering almost all drugs sold on darknet are bought with crypto. The University of Technology Sydney reports that 46% of illegal activity per year is associated with Bitcoin. I found this article interesting because it is a hot topic of conversation for a lot of people who are quick to judge crypto.
While it makes sense to use unanimous money to purchase drugs, cash seems to remain the largest use for carrying out illicit transactions because it is untraceable. Ciphertrace did point out that 76% of transactions on dark markets are still made with BTC mostly due to it being the most widely known.
What are your thoughts on this topic? Do you think it's going to be a better way to track where money is moving?
https://cointelegraph.com/news/crypto-cash-and-drugs-crypto-use-grows-as-drug-trade-digitalizesIts a long road down really and its also a call for concern for anyone who is concerned about the growth of the crypto market. Today we have heard about several news and how crypto especially bitcoin have been used for series of unholy activities by people who prefers much more to operate in the shadows. The research study no matter how damaging it might be does not remove the fact that there are real elements of truth in it and its on every other person to try within its own limit to push the agenda that irrespective of this damaging news, there are also some good deeds that can be pointed on to have risen from the use of bitcoin.