The Amount of Illicit Crypto Activity is Actually Miniscule, Says New Research
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Here's a lesson in being way, way, way, way, way, way off the mark. Last year, testifying before the Senate, US Treasury Secretary Janet Yellen suggested cryptocurrency transactions were used "mainly for illicit financing."
But according to new research released Thursday, the amount of crypto transactions involving illicit activity isn't just tiny, it's practically microscopic — only 0.15% of all crypto transactions in 2021 were tied to activities like cybercrime, money laundering and terrorist financing, a way lower percentage than fiat currency.
Source Fool.com
