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?
Anything that has an advantage also has a disadvantage and illicit activities are part of it so far it involves money, however, the rate of fraudulent cases and money laundering activities that have been committed using fiat currency since its existence cannot be compared with money laundering cases in cryptocurrencies. What do you think can be done to mitigate the risk of cryptocurrencies being used for criminal purposes? What measures should be taken?