The U.S. Drug Enforcement Administration (DEA) announced a significant decrease in the use of bitcoin in criminal activities. As representatives of the agency noted, only 10% of all transactions are related to crime, while the volume crypto deals has grown significantly.
As stated by DEA special agent Lilita Infante, over the past five years the number of legal bitcoin-transactions has exceeded the illegal ones. This data was obtained as a result of the analysis of blockchain data, which DEA started in 2013. Back then the agency paid attention to the increase of bitcoin usage in cases under investigation.
DEA came to the conclusion that to date only 10% of transactions are related to criminal activities. Claiming that the majority of digital currency are used in price speculation.
WHY IS IT IMPORTANT?
1. Statements that criminals use cryptocurrency for money laundering and terrorist financing have long been heard by bitcoin critics. In addition, many central banks regularly put bitcoin in the claim of its anonymity.
2. As the published data show, these statements are far from the truth. Gradually, the market of cryptocurrencies is becoming more mature, and the digital assets themselves are used for positive purposes.