Report: Criminals Will Move Off Bitcoin



A recent report published by the pro-cryptocurrency lobbying group Crypto Council For Innovation and co-authored by former CIA deputy director Michael Morell analyzed the degree of illicit activity associated with Bitcoin and concluded that criminals will decreasingly leverage bitcoin to launder money.

The report, titled “An Analysis Of Bitcoin’s Use In Illicit Finance,” noted the fact that Bitcoin is pseudonymous (as opposed to completely anonymous) as a reason that other cryptocurrencies that better protect user privacy represent a “far larger” percent of total transaction volume for illicit activities than bitcoin.



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