Many people criticizing the cryptocurrency for Money Laundering. Many cases had seen of money laundering via BTC. But money laundering is still possible in the banking systems as well. And all of us had seen these cases as well.
Currently, the cryptocurrency industry has also been criticized for being a tool for money laundering, despite statistics stating otherwise. It is estimated that only 1.1% of all cryptocurrency transactions are illicit. All we need to know the hidden truths of money laundering.
With the growing use of the Bitcoin network, 42 million Bitcoin wallets, and counting, it is becoming increasingly possible to track transactions on public blockchains, while private banking transactions remain hidden in plain sight.