Bitcoin and other cryptocurrencies undoubtedly offer new opportunities for financial transactions. However, they can also be used for purposes of financial crime, such as fraud and money laundering. The absence of central control and the pseudonymous nature of transactions make cryptocurrencies appealing for illicit activities.
What do you think can be done to mitigate the risk of cryptocurrencies being used for criminal purposes? What measures should be taken?
Yes, bitcoin can be used for criminal purposes, but the proportion of this is insignificant compared to cash. All real crimes are committed using cash and the influence of btc is greatly exaggerated in this. Why would an average villain use bitcoin with all the complexities in the form of wallets, transactions and other things that will surely leave traces when you can use cash, the movement of which no one will track and it is impossible to understand who and to whom, as well as what paid for.What do you think can be done to mitigate the risk of cryptocurrencies being used for criminal purposes? What measures should be taken?
You say bitcoin is pseudo-anonymous. OK. But cash is 100% anonymous.
I believe that all this information about the use of cryptocurrencies for criminal purposes is being spread on purpose because banks and governments can't control it. If they wanted to prevent crime, then why didn't they abolish and ban cash, as they are trying to do with btc? Perhaps soon this will happen with the advent of CBDC.