Post
Topic
Board Bitcoin Discussion
Re: Cryptocurrencies and Financial Crime
by
Mate2237
on 05/07/2023, 17:13:36 UTC
What do you think can be done to mitigate the risk of cryptocurrencies being used for criminal purposes? What measures should be taken? Huh
As far as Bitcoin and other Cryptocurrencies are currencies, nobody can do any to stop that. Whatever happens to the Fiat can also happen to any Cryptocurrency. If a country can not stop money laundering, nobody can stop criminals from using Cryptocurrencies. Who is using Cryptocurrencies for criminal activities is unknown so how do you stop it. Cryptocurrency us not use by few members in a family or compound but the whole world so it will be very difficult to identify those criminals.

If care is not taken, the crime rate in Cryptocurrency will be higher than the Fiat Currency because everyone now is going to the internet and criminals are more in the internet. They use the internet as cover up or umbrella body for criminal activities.