Sirwin
Sirwin

The Shocking Truth About Crypto Money Laundering: You Won't Believe How LITTLE It Actually Is!

By Cryptofab | Cointune | 18 May 2024


I constantly see news about Binance working with different countries to fight against money laundering through cryptos... But how much does it REALLY represent?

🤔 Is the crypto world a hotbed for dirty money? I can't help but wonder every time I see headlines about Binance's latest anti-money laundering efforts. It got me thinking... just how much money laundering actually happens in the crypto sphere?

🕵️‍♀️ Turns out, it's surprisingly less than you might think! According to Chainalysis, a whopping $22.2 billion in crypto was linked to shady business in 2023. That sounds like a lot, right? But here's the kicker... it's just a tiny drop in the ocean compared to the estimated $800 billion to $2 trillion laundered globally each year.🤯

📉 That means crypto accounts for a measly 1% of all money laundering. And get this, that percentage has been shrinking lately. So, while criminals definitely dabble in digital dough, it's not their main money-washing machine.

💡 But why is everyone so focused on crypto then? Maybe it's because it's new and mysterious, or perhaps the blockchain's transparency makes it easier to track dirty deeds. Or, maybe those headlines are just too juicy to resist! 😉

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Cryptofab
Cryptofab

Studying Bitcoin, Alts & Arts.


Cointune
Cointune

Crypto, DeFi and passive income.

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