Illicit activity involving cryptocurrency is down 15% in volume so far this year, according to a new report from blockchain intelligence firm Chainalysis. This compares to a 36% decline in legitimate transactions. "If we dig into specific forms of cryptocurrency-based crime, we find that some have actually increased in 2022, while others have declined more than the market overall," the firm reports. There are mounting concerns that recent United States government sanctions against Tornado Cash will become a "slippery slope" for Web3 privacy that could eventually make the entire space "meaningless." Speaking to Cointelegraph, Shumo Chu, co-founder of privacy protocol Manta Network expressed worry that the strict sanctions against Tornado Cash could have a knock-on effect on every Web3 protocol including ones providing privacy. The U.S. Securities and Exchange Commission has further broadened its crusade against the cryptocurrency industry, announcing charges against John Joseph Roets, chief architect of Dragonchain, for allegedly raising $16.5 million in unregistered "crypto asset" securities offerings. The Tuesday filing follows the SEC's assertion that popular crypto exchange Coinbase listed unregistered securities on its platform in July. San Francisco-based exchange company Kraken's CEO Jesse Powell recently told that he was still bullish on Bitcoin and hoped to buy one Bugatti for one Bitcoin by the end of 2022. Powell joined Bloomberg Exclusive, where he was reminded of his forecasts from last year. You can find these stories and more at the link below:
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