If smart group is using this one then they know the value of anonymous transaction.
However, there is loop hole in such transactions. They can not easily launder huge amount of money which is coming from the crypto space. Today or tomorrow they will need the crypto's converted to fiat for their daily needs. The only source they can the money is via their bank accounts.
Just imagine millions of transactions getting recorded in the bank account will surely sound the alarm for local authorities.
So it's still confusing for them and good for us since we will get great deal of volume in the crypto space.
However, there is loop hole in such transactions. They can not easily launder huge amount of money which is coming from the crypto space. Today or tomorrow they will need the crypto's converted to fiat for their daily needs. The only source they can the money is via their bank accounts.
Just imagine millions of transactions getting recorded in the bank account will surely sound the alarm for local authorities.
So it's still confusing for them and good for us since we will get great deal of volume in the crypto space.
To be able to use crypto thoroughly, one needs to have some technical background. Average criminals are not tech-savvy enough to be able to hide their nefarious actions when using crypto. They prefer physical cash (Fiat) on top of crypto because it's extremely easy to use, anonymous, and stable. Besides that, criminals can pay with physical cash regardless of catastrophes such as natural disasters, a war, etc. Crypto has many downsides to it, which limits mainstream adoption. At least, the number of legitimate use cases on crypto are increasing at a fast pace. This should allow the approval of crypto/Blockchain tech by mainstream governments. Things would've been worse if criminals used crypto in mass. It would stifle the growth of the industry as we speak.
Nonetheless, time will tell us whenever criminals will continue to use Fiat or switch to crypto altogether. With CBDCs, governments will be able to keep track of every transaction performed on the ledger (which greatly undermines a person's privacy). Since physical cash will no longer exist, the only alternative against government surveillance will be crypto. My guess is that privacy coins will be heavily used for criminal activities in the future. Once that happens, one would expect a full government crackdown on any cryptocurrency with anonymity features. At least, Bitcoin and other non-private cryptocurrencies will be able to survive for long. Privacy coins will eventually fade into oblivion because of the aforementioned reasons. Just my thoughts
