TL; DR
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Chainalysis just reported that cryptocurrency laundering fell 30% in ’23 (compared to 2022), from $31.5 billion in illicit trade, to $22.2 billion.
Full story
There are a handful of government officials who are happy to talk about how crypto can be used for money laundering.
Which is absolutely possible.
(But so are cash, casinos and coin laundries).
The point is: as long as there is money in the world, there will be money laundering.
The good news is (on the crypto side):
Chainalysis just reported that cryptocurrency laundering is down 30% in 2023 (compared to 2022), from $31.5 billion in illicit trade to $22.2 billion.
The analysis company notes:
“The inherent transparency of DeFi generally makes it a poor choice for obscuring the movement of funds.”
(Can someone send this to Senator Warren?)